Quantity Surveyors are skilled professionals in the construction industry, who advise clients on construction costs, measurements, contracts, etc. Their activity covers a wide range. Their services are indispensable during a construction project. This article will take a look at how a Quantity Surveyor can be useful during the tendering process for construction activity.
5 Benefits Which Compel You To Engage A Quantity Surveyor For The Next Tender
For an investment contractor, one of the best investments will be to hire the services of a professional quantity surveyor. They are highly knowledgeable people providing expert advice on matters like project cost estimation, economical procurement process & regular budgeted vs actual cost comparison, to name a few.
Their quantity surveying services are even more useful when you are planning to submit a tender for a construction project.
What Is A Tendering Process?
Often, before a construction activity, a competent local authority invites expressions of interest & bids from relevant third parties in similar lines of business. A tendering process is one in which the third parties bid for a project. The authority chooses the best bid as per the project parameters.
How Do The Quantity Surveyors Benefit The Contractor During The Tendering Process?
The following points should provide an answer to this question:
Quantity Surveyors Help To Assess Prospective Customers
A tendering process is not cheap. There are other associated risks, as well. So before you submit the tender, it would be worthwhile to take your professional quantity surveyor for a visit to the subject site. He/she can assess the project from various standpoints and judge the feasibility of bidding for it.
Quantity Surveyors Can Confirm Whether Or Not The Rates Are Reasonable
The surveyor can scan the contract thoroughly to check whether the terms & conditions therein are fair towards the contractor. Also, it should have provisions for liquidated damages in the event of an unfinished project which the contractor had secured.
E.g., a house, for which you had bagged the building contract, remains incomplete due to a governmental regulation/action. So you would receive a compensatory sum (like a certain rental amount) against your unearned future income from the property. The quantity surveyor would also be able to check the contract for the fair inclusion of this condition.
Quantity Surveyors Can Determine Your Possibility Of Securing The Contract
For any job, there will be several contractors who will bid for it. The presence of five or more contractors might discourage you from participating in the tendering process. The surveyor will be able to determine how secure your bid is vis-à-vis the contract requirement and will be able to let you know how much chance you stand to secure it.
Quantity Surveyors Can Determine Whether The Contract Period Is Achievable Or Not
The surveyors have a mechanism by which they can figure out whether you can achieve the contract within the stipulated period. If not, then he/she can ask you to redraft the agreement so that you can complete the results within the determined period.
Quantity Surveyors Ensure Better Control On Costs
It’s not enough to make a cost budget. It is equally important that you monitor the costs throughout the construction process. The professional quantity surveyor does this for you. They will maintain accurate cash flow statements & determine whether the payments you are making at every stage is conforming to the plans or not.
To conclude, quantity surveying services from a qualified professional is an absolute necessity when you decide to go for the next tender. You can rest assured that there will be no loopholes when you bid for the project.