Whether you're a construction contractor or a building owner looking to have a new project built, you would do well to consult with a quantity surveyor. This professional is skilled in understanding the costs of projects before and after their construction, and they can help a contractor or owner in a variety of ways before they even decide on a lot or parcel of land and before any construction work begins.
1. Feasibility study
This typically refers to a budget or expected cost that a contractor or owner will face during construction, and this study will include details that may have been overlooked during the initial task of preparing a budget. For example, government requirements for a build may have been overlooked, or local market conditions that may be fluctuating and which were not considered should be included in the cost of materials. Site conditions that need to be addressed will need to be allocated in the budget, special mechanical considerations may be more costly than expected and so on. This feasibility study will allow a contractor or owner to make adjustments to their plans before work begins.
2. Lifecycle costing
Lifecycle costing refers to the cost of owning and operating a building of any sort over its expected lifespan. This would include not just the initial costs of construction and development, but expected maintenance and operating costs, mechanical and electrical systems upgrades and maintenance, utility costs, and other such expenses. This lifecycle costing can be adjusted before work begins so that changes can be made. For example, a more efficient type of insulation may be factored into the lifecycle costing; it may be a more expensive choice at the time of installation, but it may save on the utility costs of the building and in turn actually be the more cost-effective option overall.
3. Cost management
A quantity surveyor may work with a construction company or owner during the construction phase to ensure cost management; this refers to monitoring the costs of the build during construction and maintaining the budget as the work progresses. They may track costs and expenditures and adjust the budget accordingly, and allow for more informed decision making during construction. This will ensure that costs are contained properly and that changes are made where necessary, and that the project will not be halted or held up because of an issue with payment to vendors and the like.
Get in touch with a surveyor from a business like Just Depreciation to learn more about the surveying process.