Although often considered a service more likely to be used by a commercial project or large-scale projects, there are many potential benefits that can be had for the Residential build or even the home Renovation project. Here are a few points to consider and to view as an alternative way to manage and interact with your proposed residential build as opposed to the traditional "Get quotes from a builder or two" method. Enjoy !
A Schedule of Quantities sets out the quantity, as well as quality, of all the component parts necessary within the construction of the works
Quantities are measured by the Quantity Surveyor (QS) in accordance with the drawings and specifications provided by design consultants.
Ensures that all contractors tendering for the project will be able to price on exactly the same information, confirming like-for-like tender submissions.
Limits the risk element borne by the contractor to the rates he enters within their tender submissions.
Provides a solid foundation in regards to the assessment of variations, which often occurs throughout the project.
The itemised list format, of the component parts of the building, greatly assists the successful contractor in assessing his supply and labour requirements for the contracted works.
Allows the same basis for cost comparison between tenders, thus providing quicker and fairer tender assessment.
Priced Schedules of Quantities are valuable resources for cost analysis, which subsequently will be utilised on future contracts in terms of cost planning work and benchmarking.
Consultant quantity surveyors have a chance to sort out discrepancies or errors in drawings and specifications during BoQ preparation.
Reduces the inherent risk of the possibility of inadequate quantities being utilised when accepting the lowest tender bid.
It decreases the tenderers overheads for measurement, which may eventually be reflected in their final tender price submission.
Quantities are prepared by the consultant QS, ensuring quality of the SoQ.
Easier to assess Progress Payments (PP) by referencing the firm quantities, which prevents over-certification in monthly claims