Value and risk management in quantity surveying pdf

In real estate, this covers residential, commercial, industrial, leisure, agricultural and retail facilities. The quantity surveying competencies are split into core and specialist competencies. He is responsible for investigating whether public spending bodies achieve the best possible value for money and adhere to the highest. Financial management in construction contracting wiley.

Throughout my 4 th year of the honours degree quantity surveying programme, i found the value and risk appraisal module very interesting especially the. Cas5009 question 3 the risk free base estimate for a rail track. Commercial managementquantity surveying to exhibit knowledge of all civil engineering contracts, but also to support and recommend strategies to the other members of the construction team. Then the owner usually chooses the company with the lowest bid to complete. Vm need more than analytical skills of a quantity surveyor, but it combine a mixture of management, organizational, team work, technical and human relation in becoming a good vm facilitator. Quantity surveying role in construction projects muep. The approaches to teaching quantity surveying measurement described in this paper are those adopted in. What are cost engineering, quantity surveying and project.

The quantity surveyor in the construction industry seems to have gone through some significant changes. C k e value engineering techniques and their importance in. The following document summarizes the conclusions of discussions held at icec international congresses and endeavors to compare the similarities and. The survey focuses on the use of risk management tools and techniques used when estimating initial. Pdf modern quantity surveying a complete package adding. This paper presents the results of a survey of 125 professional quantity surveying practices in the uk. An elearning approach to quantity surveying measurement. Quantity surveyor site covering the topics such as quantity surveying, commercial management, contract procedures, commercial management and project management. Bwb provides a range of professional quantity surveying services across all sectors of the property and construction industry. The practice of risk management by cost consultants in. Value management and value engineering, 1st edition. So basically, quantity surveyors make sure buildings are safe, highquality and costeffective all very important things. Examination 20152016 construction economics module no.

In infrastructure, it covers roads, railways, water ways, airports, seaports, coastal defences, power generation and utilities. Bsc hons quantity surveying and commercial management semester one. Value management practice by south african quantity surveyors article pdf available in facilities 2812. Risk management as a discipline is becoming far more prevalent for the success of projects, programmes and indeed the construction industry. This 1st edition guidance note which comes into effect on 1 may 2017 introduces the concepts of value management and value engineering as they relate to construction projects and to the role of. According to smith 2005, the following are quantity surveying services. Each of the activities under the competencies must be signedoff to a specific standard, indicated by one of the letters a, k, e or b. It assesses their recognition of the theories and techniques adopted to manage risk and builds on the. Ce 2402 estimation and quantity surveying l t p c 3 0 0 3 objective this subject covers the various aspects of estimating of quantities of items of works involved in buildings, water supply and. Estimation and quantity surveying indiastudychannel. Risk management, northern ireland construction industry.

Management of risk, 1st edition this guidance note provides a reference point for professionals on the discipline of risk management. As chartered quantity surveyors we provide professional cost, value and risk management. Cost management quantity surveying in these fastchanging and economically challenging times, competitive advantage is more important than ever. Value management vm initially started in early 1940s in the us manufacturing industry has increasingly becoming popular within the construction industry community internationally. The school of construction economics at wits university, in partnership with wits plus, run a number of short. It must be as accurate as possible and should be based on all available engineering and design data. The factor analysis and chi square test of independence were the main tools used for data analysis. Pmp believe that effective and accurate early cost advice is the key foundation to a successful project. Who are quantity surveyors and why are they important. Degree of bsc hons quantity surveying in the faculty of engineering, built environment and.

Value engineering is a methodical process to transform the project into its. You will be taught by staff with academic and professional experience in quantity surveying, architectural practice, civil engineering and the construction industry, having worked in a variety of professional. This guidance note provides details of the general principles of risk management and provides practical applications and considerations for successful implementation, and is effective from 25 september 2015. By applying our extensive experience, we can help our clients to achieve the. Quantity surveyors manage the costs of building projects from start to finish, looking for the best value for money and making sure the project meets legal and quality standards. He also uses the value management knowledge to obtain a reduction in construction costs. Quantity surveyors work in all sectors of the construction industry worldwide. Cost management and quantity surveying services rps. Produced by the qs and construction working group of the royal institution of.

A quantity surveying perspective o n future opportunities jjp basie verster 1 1. Therefore, the quantity surveying profession having the opportunity to take lead of this service which reflect their traditional attributes for providing the best valueformoney advise to the client. Quantity surveyor reports to contracts manager and is involved in maximizing project margin, adding value to the construction process by proactive involvement in procurement, cost management and reporting. Our approach to quantity surveying is one which focuses on the business needs of the customer, and aims to deliver a cost management service which enables them to make informed decisions in relation. Pdf paper presented at 2015 qsrbn annual conference of registered quantity surveyors with the theme strategic options for nigerian. Pdf value management practice by south african quantity. B k e profitability forecasts, costbudgetvalue comparisons and cash flow. Once the building process starts, quantity surveyors keep close tabs on any.

Chapter 2 risk management and construction research. Risk management, value management quantity surveying international conference. Responsible early cost advice means that our clients are able to make informed business decisions on the deliverables of a project. Unlike land surveyors, and estimators, quantity surveyors are known. Also called as value analysis and one of the most important steps in the value management process. The case of the quantity surveying profession in kenya citeseerx. This guidance note provides details of the general principles of risk management and provides practical applications and considerations for successful implementation. Chapter 2 quantity takeoff the quantity takeoff is an important part of the cost estimate.

Pdf exploring the inherent estimating risks in quantity surveying. Implementation of quantity surveying and cost management services helps analyze investment and development, for the guidance of owners, financiers and contractors. This paper shall discuss on the development of vm in malaysia and the challenges vm face services in qs firm to remain ahead of their competitors. An extension of quantity surveying services in malaysia m. Often, they also gather tender and contract documentation, conduct feasibility studies, and undertake risk control. The traditional technical and professional services of quantity surveyors still. There exist some misconception as well between value engineering ve. Nowadays, most of the dedicated project manager has a quantity. Pdf introduction to quantity surveying laki emmanuel. Functions of a quantity surveyor in building contracts. A quantity surveyor is an expert professional with exceptional knowledge on construction costs and contracts. They work on behalf of contracting organisations or representatives of the client, aiming to maximise value and ensure that the project is completed within.

The changing role of a quantity surveyor highfield. Rics is the professional body for the quantity surveying industry and ensures that the industry has high standards through promotion of qualifications and best practice. Quantity surveyors professional cost, value and risk. Quantity surveying, project management, variation, procurement, construction industry. Project cost overruns and risk management please leave footer empty to be in chaos leftly, 2001. Professional quantity surveyors accommodate risk by the inclusion of a contingency. Pdf ce6704 estimation and quantity surveying eqs books. Quantity surveying cost and contract management in qatar. The quantity surveyors must now provide strategic advice at a much higher level because, all over the world, quantity surveyors are now.