Professional Practice for Quantity Surveyors in the 21st Century

Professional Practice for Quantity Surveyors in the 21st Century

Andrew Ebekozien, Clinton Aigbavboa

This book covers developing trends and changes occurring in the quantity surveying profession. It begins by explaining the construction industry structure, followed by the quantity surveying practice modalities, professional ethics, roles of regulatory bodies, continuous professional development, and code of professional conduct of quantity surveying practice. Further topics covered include international construction, contract administration, financial management, and liquidated and ascertained damages as applicable to the construction industry.



Considers the structure of the construction industry and the interrelationship of professionals in the built environment Provides a compendium of quantity surveying professional practice, including developing country perspectives and examples Includes information on cultural differences and how they may impact quantity surveying practices, such as communication styles, decision-making processes, and work habits Focuses on current industry trends and practices, such as sustainable practices, building information modeling (BIM), and advanced technologies Covers financial statements and progress reports regarding construction projects This book is aimed at professionals and students in construction, quantity surveying/value management, and civil engineering.

Publisher

CRC Press

Publication Date

10/1/2024

ISBN

9781032661438

Pages

200

Questions & Answers

The book addresses the evolving role of quantity surveyors in the 21st-century construction industry by emphasizing their expanded responsibilities and the need for continuous professional development. It highlights the integration of technology, such as Building Information Modeling (BIM), and sustainable practices in quantity surveying. The book underscores the importance of quantity surveyors in managing costs, ensuring financial probity, and achieving value for money in construction projects. It also emphasizes the role of quantity surveyors in promoting sustainability, including life cycle costing and sustainable construction management. The book acknowledges the challenges posed by technological advancements and sustainability concerns, and encourages quantity surveyors to adapt and upgrade their skills to meet the demands of the modern construction industry.

The book identifies several key challenges and opportunities for quantity surveyors dealing with international construction projects:

Challenges:

  1. Cultural Differences: These can lead to communication barriers, misunderstandings, and conflicts. Quantity surveyors must navigate diverse communication styles, decision-making processes, and work habits.

  2. Financial Risks: Currency fluctuations, inflation, and interest rate increases can impact project costs. Additionally, securing financing and managing cash flow across borders adds complexity.

  3. Regulatory Frameworks: Different countries have varying regulations, which can complicate contract administration, insurance, and bonding processes.

Opportunities:

  1. Global Experience: International projects offer valuable experience in diverse environments, enhancing professional skills and knowledge.

  2. Networking: Building international connections can lead to new business opportunities and partnerships.

  3. Adaptability: Navigating international projects fosters adaptability and flexibility, crucial skills for a dynamic profession.

  4. Technological Advancements: Utilizing advanced technologies like BIM can improve efficiency and mitigate risks in international projects.

The book emphasizes the importance of professional ethics and continuous professional development (CPD) in quantity surveying by highlighting their role in maintaining high standards and ensuring the profession's relevance. It underscores that ethics are crucial for maintaining integrity, transparency, and accountability, which are essential for the profession's credibility. The book also emphasizes the need for CPD to keep up with technological advancements and evolving industry needs.

Specific ethical considerations highlighted include integrity, objectivity, competence, care, secrecy, and the right of conscientious refusal. The book also discusses the importance of adhering to professional codes of conduct, such as the Nigerian Institute of Quantity Surveyors (NIQS) code, which outlines responsibilities, disciplinary procedures, and the conduct expected of quantity surveyors. The book further emphasizes the need for quantity surveyors to be aware of ethical dilemmas and the importance of making ethical decisions in their practice.

The book discusses several financial management strategies and tools for effective cost control and project profitability in construction projects. Key strategies include:

  1. Cost Estimation and Budgeting: The book emphasizes the importance of accurate cost estimation and budgeting to ensure projects stay within financial limits. This involves preparing bills of quantities (BOQs) and cost models to forecast future costs.

  2. Value Management: Value management techniques are highlighted to optimize the cost and value of projects. This includes identifying cost-saving opportunities without compromising quality.

  3. Contract Administration: Effective contract administration is crucial for controlling costs and ensuring project profitability. This involves managing variations, interim valuations, final accounts, and daywork.

  4. Financial Reporting: Regular financial reporting helps monitor project progress and identify potential cost overruns. Reports should include initial tender figures, projected completion figures, current payment applications, and certified values.

  5. Risk Management: Identifying and managing risks is essential for cost control and project profitability. This includes assessing risks related to cost, time, and quality, and implementing mitigation strategies.

  6. Insurance and Bonds: Insurance policies protect against financial losses due to unforeseen events, while bonds ensure contractors fulfill their contractual obligations.

  7. Project Management: Effective project management ensures projects are completed on time and within budget. This involves planning, scheduling, and coordinating activities to achieve project objectives.

These strategies and tools, when implemented correctly, can help construction projects achieve cost control and profitability.

The book thoroughly explores various tendering methods and procurement processes in construction projects. It discusses open tendering, selective tendering, negotiated tendering, and contract documentation, highlighting their advantages and disadvantages. The book emphasizes the importance of considering factors like project size, cost, time, and accountability when choosing a procurement path.

For successful project outcomes, the book recommends the following best practices:

  1. Thorough Tendering Procedures: Ensure transparency and fairness in the tendering process to encourage competition and value for money.
  2. Competent Contractor Selection: Choose contractors based on their technical competence, financial stability, and past performance.
  3. Effective Contract Management: Implement clear contract terms and conditions to minimize disputes and ensure smooth project execution.
  4. Continuous Monitoring and Control: Regularly monitor project progress and costs to ensure they stay within budget and schedule.
  5. Professional Development: Encourage continuous professional development for all stakeholders to keep up with industry trends and advancements.

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