Quantity Surveyors are responsible for the financial, contractual, and commercial management of a construction project both before and during the construction process. The duties of a Professional Quantity Surveyor may differ depending on the size and type of the project. The successful accomplishment of a project mainly depends on the proper utilization of capital and time. A skilled and reliable PQS can help achieve this goal of the project owner.
The Canadian Institute of Quantity Surveyor has specified some standard activities that a PQS performs before and during construction.
Cost Planning Services:
Feasibility Study and Functional Program – Class D Estimate:
The Feasibility Study gives the information that is used to evaluate and find the optimum project solution. The details will depend on the nature and complexity of the project. A Functional Program is a pre-structured document narrating the functional needs of a building in sufficient detail to begin preliminary costing. During this stage, the Professional Quantity Surveyor may prepare Class D estimates of the construction costs, O & M costs, and cash flows for any of the solutions that are to be evaluated.
Schematic Design – Class C Estimate (Documents 5% – 25% complete):
Depending on the Client approved schematic design documents, the PQS shall review the nature and scope of the complete project and develop a Budget Cost Estimate(s) and Cost Plan which reflects the size and type of the entire project. This shall be presented as a Class C Estimate.
Design Development – Class B Estimate (Documents 25% – 33% complete):
Based on the Client’s approved design development documents, the PQS shall prepare a Project Cost Estimate that reflects the size and character of the entire project, including the architectural, structural, mechanical and electrical systems. This Estimate shall be presented as a Class B Estimate.
Working Document – Class B Estimate (Documents 50% – 66% complete):
Based on the Client’s approved 50%-66% contract drawings and specifications, the PQS shall prepare a Project Cost Estimate that reflects the size and character of the entire project, including the architectural, structural, civil, mechanical and electrical systems. This Estimate shall be presented as a Class B Estimate.
Pre-Tender contract Documents – Class A Estimate (Documents 90% – 100% complete):
Based on the Client’s approved Pre-Tender contract drawings and specifications, the PQS shall prepare a Project Cost Estimate that reflects the size and character of the entire project, including the architectural, structural, civil, mechanical and electrical systems. This Estimate shall be presented as a Class A Estimate, including quantities, unit rates of individual items of work and a Trade Summary suitable for comparison with contractors’ tenders or proposals.
Tender Package Preparation:
As the tender package is being assembled, the PQS should be made aware of all changes from the documents used to prepare the pre-tender update.
Tender Review and Contractor Selection:
If the tendered prices are unacceptable, the PQS may assist the Client and the design team in the negotiations and recommend a fair price. Such negotiations are supported by reference to the PQS’s estimates. Where a cost-plus contract is to be used, the PQS may advise on the selection of a suitable contractor and on the form of the contract.
The PQS may have to prepare a reconciliation report for the Client or Construction Manager may occur at any estimating phase.
The PQS may need value management at any stage of an estimation.
Functional Cost Analysis:
The PQS may prepare a functional cost analysis of the project based on the accepted tender. An available cost analysis shows the cost of various functions contained within a project.
Post Tender Stage-
Schedule of Values and Cost Reporting:
The PQS may review the schedule of values submitted by the contractor, check the contractor’s labour and material costs and report the same against the target budget.
Progress Advance Approvals:
Evaluation of the work as per the contract, including the balance to complete, advise on the amount of Lien Holdback and make recommendations as to the amount of such payments.
The PQS may also evaluate change orders, negotiate with the contractor, and recommend adjustments to the contract sum.
During the construction work, the PQS may regularly prepare statements showing the current expenditures to date, incorporating all change orders authorized and indicating the anticipated final cost.
On completion of the work, a full and detailed final account incorporating all change orders and cash allowances adjustments may be prepared.
PQS may check and certify payments for the client during the construction period.
Management of Contracts:
Provide a breakdown of the elemental estimate to conform with trade packages identified by the Project or Construction Manager to assist in calling tenders.