You might have heard the phrase that a Quantity Surveyor can be an Estimator, but an Estimator cannot be a Quantity Surveyor. There is some truth to it. Quantity Surveyors are often seen as a jack of all trades in construction, a master of none, but oftentimes better than a master of one. A Quantity Surveyor will dip their toes into estimating, procurement, law, engineering, project management, and economics. This wide scope of activities means QSs need to be extra vigilant about their limitations. Let’s explore six common estimating mistakes to look out for as a QS.
1. Inaccurate Quantity Take-offs:
One of the most fundamental tasks of a Quantity Surveyor is to measure the quantities of materials, labour, and equipment required for a project. Mistakes in this process can lead to significant cost discrepancies. Inaccurate quantity take-offs often stem from human error, misinterpretation of drawings, or incomplete information. To avoid this, QSs should double-check their measurements, use reliable software, and ensure all project documentation is thorough and up-to-date.
2. Inadequate Risk Assessment:
Failing to properly assess and account for risks can have severe financial implications. Risks such as site conditions, weather impacts, and unforeseen technical issues can disrupt project timelines and budgets. QSs should perform comprehensive risk assessments, including contingency planning and sensitivity analysis, to ensure all potential risks are identified and mitigated.
3. Inadequate Labour Cost Estimates:
Labour costs can be one of the most variable elements of a construction project. Underestimating these costs can lead to budget overruns and project delays. QSs should use up-to-date labour rates, consider productivity rates, and factor in overtime, training, and potential labour shortages. Detailed analysis and consultation with project managers can improve the accuracy of labour cost estimates.
4. Ignoring Indirect Costs:
Indirect costs, such as site overheads, administrative expenses, and equipment maintenance, are often overlooked. These costs can accumulate and significantly impact the overall budget. QSs should ensure they account for all indirect costs by reviewing past projects, consulting with other departments, and creating comprehensive cost breakdowns that include these often-forgotten expenses.
5. Ignoring Inflation and Price Fluctuations:
Construction projects often span several months or even years, during which time prices for materials and services can fluctuate. Ignoring inflation and price volatility can result in underfunded projects. QSs should incorporate price escalation clauses in contracts, regularly update cost estimates to reflect current market conditions, and consider purchasing materials in advance or locking in prices through agreements with suppliers.
Metroun Learning
Before we move on to our final point, let’s address another common mistake made by Quantity Surveyors: failing to stay up-to-date with their CPD. This is where Metroun can help. Our online learning platform boasts a vast library of courses and lectures designed to help you excel as a Quantity Surveyor and stand out from your peers. Each lecture includes a video, a key points card, and a quiz. Upon completing a course, you will receive a personalised certificate detailing the course duration, which can be used for formal CPD. Click here to find out more.
6. Poor Communication and Coordination:
Effective communication and coordination among project stakeholders are crucial for accurate estimating. Miscommunication can lead to misunderstandings, errors, and omissions. QSs should establish clear communication channels, hold regular meetings, and ensure all parties are informed and aligned on project requirements, changes, and updates. Utilising collaboration tools and maintaining detailed records can enhance communication and coordination efforts.
By being aware of these common pitfalls and implementing strategies to avoid them, Quantity Surveyors can improve the accuracy of their estimates and contribute to the successful delivery of construction projects.
