Presentation Abstract:
This presentation will focus on different aspects of estimating and quantity surveying, its importance in construction and project management, with a major impact in risk management, cost containment, and project success. An outline of the best practices for quantity surveying and estimating is given in this abstract, emphasizing the importance of these methods for producing effective and economical project results.
Extensive data gathering and analysis is the first step towards effective estimation. Consideration of a number of variables, such as materials, labour, equipment, overhead costs, is necessary for accurate cost estimations. To ensure accuracy, best practices call for the use of sophisticated technological tools, historical data, and professional judgement. Furthermore, it's critical to engage in ongoing value engineering to find ways to cut costs without sacrificing quality.
The exact measurement and recording of project components is a task associated with quantity surveying, on the other hand.
Precise quantity surveying is essential for managing changes, controlling costs, and administering contracts. Standardized measurement codes and procedures, such as New Rules of Measurement (NRM) and the International Cost Management Standard (ICMS), are essential to best practices in this industry. Quantity surveying becomes more accurate and efficient as it adopts digital tools like Building Information Modeling (BIM)
Estimating is not something which ends at the start of project. As a cost manager we keep estimating until the pre-final payments to the contractor. If estimating and its documentation is properly recording in the beginning, all the change management becomes comparative easy to track and justify for increase/decrease on the budget.
To sum up, successful and economical construction projects depend heavily on applying best practices in quantity surveying and estimation. Construction processes can be expedited, and project outcomes improved by combining improved, by combining precise estimations with thorough quantity surveys, employing digital technologies, and encouraging teamwork. Acknowledging and implementing these optimal methodological guarantees timely, cost-effective, and superior quality project delivery.