Every contractor wishes to cut costs and maximise their profit on a project. One of the ways to do it is to utilise your own team and resources whenever possible. For example, if you have an in-house estimator team, it can provide calculations on your next project with minimal additional costs. So why then do many contractors hire an independent Quantity Surveyor and spend money on a service they could seemingly do on their own?
The truth is, skimping on that initial investment might lead to massive overruns once construction begins. After all, independent quantity surveyors are capable of bringing more accurate estimations and remain deeply involved throughout the project’s entire lifecycle.
Bias Elimination
It’s no secret that contractors pursue their own interests on a project. While a client wants the project executed cost-effectively, contractors are looking to make a profit. Clearly, these interests don’t always align.
When preparing project estimations, contractors may carry certain biases. For instance, they might present lower figures to secure a contract. However, this often results in budget inflation as the project progresses. Or contractors may add contingency to protect themselves from financial losses if something goes wrong. Yet this can be difficult to justify to a client.
A freelance quantity surveyor, on the other hand, is free from such biases. Their goal is simple – provide an accurate cost assessment. Although they act on behalf of a contractor, their estimates balance the interests of both parties. In other words, they’re designed to deliver the best value for a client and contractor alike.
Optimisation and Cost Saving
How do independent QS achieve this best value? They carefully study plans and drawings to try and find ways to switch to more efficient materials or methods to save labour costs. After all, their ultimate goal is to cut expenses without sacrificing quality. For example, there might be a way to use prefabricated materials – this will speed up the build and hence reduce labour hours.
At the same time, quantity surveyors are often involved in discussions with a client. Therefore, they can explain the possible tweaks to timelines or specifications and how they could lower costs. Their independent assessment may help influence the client to make a decision that benefits both the project and our bottom line.
Moreover, as risk management experts, independent quantity surveyors are able to highlight potential pitfalls early on and save you from costly overruns in the future. For instance, if the steel prices are going up, they may suggest getting deals with suppliers ahead of time.
All in all, contractor quantity surveyors can lower project costs through smart value engineering and procurement strategies – this is something an in-house team often overlooks.
Effective Budget Control and Project Success
As we have already mentioned, a QS for contractors does more than calculations. In fact, they manage all cost-related aspects of a construction project, including procurement advice, dispute resolutions, and even final financial reports.
In practice, this means they can help you control the budget throughout every stage of construction and prevent cost inflation. Since they monitor spending in real time, they are able to flag potential variations early on. As a result, you always get reliable information about the project’s progress and are ready to take necessary steps to keep everything according to the plan.
Estimators, on the other hand, are involved only in the early stages of a construction project. They normally provide the figures, and their role ends here. You cannot rely on them to ensure an ongoing cost oversight.
Tackling Multiple Tenders at Once
Are you taking part in multiple tenders? Since every contract demands attention, you might end up drowning in paperwork and stretching yourself thin. Not to mention you still need to keep track of ongoing projects.
In this reality, independent quantity surveyors can offer support for your overwhelmed internal teams. Thanks to their experience, they can help you run parallel tender processes without sacrificing quality on any of them. Meanwhile, you can focus on the work that actually generates revenue – running active construction sites.
There is one more thing worth noting – clients tend to take you more seriously when a QS backs your submissions. In their eyes, your bid will look more professional and your approach – more organised.
Bringing the Wealth of Experience
Last but not least, independent quantity surveyors have a level of experience and practical knowledge that’s hard to beat. While estimators often pull figures from price books and supplier catalogues, QS’ are actually involved in negotiations with subcontractors and material suppliers. As a result, they understand what things actually cost and what’s genuinely negotiable.
Furthermore, they know where the prices are moving and can include risk forecasting into their recommendations. At the end of the day, this can help you plan for uncertainty. Being prepared beforehand is better than reacting when problems occur.
As a contractor, you can greatly benefit from an internal estimator team. However, the assistance of an external quantity surveyor can take your project management to the next level.
Experts at Peja Surveying will work alongside your existing team to help you strengthen your bids, safeguard budgets, and give you the confidence that comes with truly independent oversight. Call us today and learn how we can benefit your next construction project.
