Quantity Surveying and Bill Audits specially tailored for Industrial Construction Projects.
Quantity Surveying and Billing can help you save nearly 3 to 5 percent of your project costs through careful planning and management. Figuring out Quantity Surveying (QS) for Industrial projects to effectively manage costs cannot be stressed enough. However, our experts have noticed that industrial clients tend to be very naïve when it comes to construction knowhow. This makes them susceptible to being taken advantage of by contractors and other construction personnel, especially when it comes to material quantities and costs as these are not validated by qualified professionals.
Why do Industrial Projects need Quantity Surveying and Bill Audits
Industrial projects also have very specific material requirements, unlike residential projects. These could be large steel girders, prefabricated components, vessels and tanks that need careful budget planning. Industrial projects are distinct as they need heavy equipment and machinery on site, along with specialized workforce, all of which has to be properly accounted for in the planning and validating in the billing process.
For industrial clients, timely completion of the project is the focus and pertinent aspects of Quantity Surveying are often ignored. So they stress that contractors maintain a good speed of work, not realizing that they are not assessing their budgets effectively. In such cases auditing of the quantities of material assumed great importance. And this can be carried out in the right manner by specialists.
How do Industrial Projects benefit from Audits
Firstly industrial clients need to understand that in a nutshell QS is about effectively managing the costs of a project. CQRA help industrial clients navigate the issues and intricacies that come with Quantity Survey and Auditing the Bills of projects.
Quantity Surveyors and Bill Auditors from CQRA make sure that project costs are estimated accurately based on the requirements and specifications of the infrastructure or industrial project and timely audits are carried out to ensure that the estimated and current costs are in line.
Right cost planning begins from preparing an accurate Bill of Quantities (BOQ), a document that defines the quality and quantities of material, the labor involved and the costs. But these BOQs need verification at various stages of the project in order to effectively manage expenditure, ascertain project budgets and to analyze the causes incase of budget failure.
Ideally, third party Quantity Surveyors and Cost Planning and Management consultants should be roped in at the initial stages of a project right till the it wraps up to ensure that smooth execution trajectory.
However in the Post construction stage Quantity Surveying and Auditing by the CQRA is done under the following headers as per the industrial project needs –
• Quantity Survey Audits – Also called the Bill Audit, this involves the validation of the initial budget of the project whereby the quantum of steel and concrete are rechecked and an estimate arrived at again.
· Budgeted Cost versus Actual Cost Analysis – These figures and analyses are important to know the implications of changes in costs.
· Bill Audit and Material Reconciliation – Material use and wastage analysis is done to know whether wastage is within limits or not, for example wastage limits for cement and steel is 3% waste and raw material is 10%.
· Balance Work Cost Analysis – In case a project has stopped midway, this analysis tells the client the cost of the balance work as per the present day costs.
Why is Quantity Surveying and Cost Planning essential for Industrial Projects?
· Continued Cost Planning and Management help the client and the contractor from potential future financial risks.
· A correctly made BOQ is an essential bridge between the Design phase and Cost Planning.
· Accurate planning helps to control cost in every phase of the project.
· Quantity Surveying helps identify the implications of design changes on the overall budget of the industrial project.
· Bill Verification helps identify the deviation which directly affects the cost of the project.
Industrial Projects have a lot to benefit from CQRA when it comes to Quantity Surveying and Bill Audit services since the clients have limited construction know-how. The time to rope in the experts is now.
