When undertaking any construction project, having an accurate bill of quantities (BOQ) is absolutely vital. The BOQ lists all the materials, labor, and equipment required to complete the build.
It provides itemised costings for every component. Without an accurate BOQ, projects can quickly become seriously compromised, leading to extensive financial losses.
For developers and self-builders, having confidence in your BOQ is crucial. Under-estimating quantities leads to unbudgeted costs part way through construction as more materials are ordered.
Even worse, if insufficient materials are estimated in the BOQ, the build program is delayed while re-orders are processed. The consequences of delays are costly - additional prelims, hire costs for equipment, extra site overheads etc.
With labor such a major component of any build budget, an inaccurate BOQ directly impacts your project finances. If the labor and plant quantities are under-estimated, you'll face unplanned wage bills and hire charges.
Equally, over-estimated quantities mean you've allocated budget you probably can't recover. With profit margins tight on most construction projects, budget creep caused by poor BOQs has a huge impact on final returns.
Checking your BOQ is a tedious but essential task however this is where an experienced quantity surveyor pays big dividends. Their expert eye for detail can identify any missing elements in your material take-offs.
Never be tempted to cut costs by getting your BOQ compiled on the cheap. The cost of using out-dated rates or relying on junior estimators far outweighs any initial savings.
If you're planning extensions or renovations, compile your BOQ meticulously. Seemingly small items like fixings, trim and sealants are easily forgotten but they all add to the final costs.
A single missing component can have a dramatic impact if you need to reorder part way through the build program. Especially if that component is manufactured abroad or has a long lead in time.
In summary, the bill of quantities directly correlates to the budget for your construction project. Without an accurate BOQ, you open yourself up to massive financial risk. Cost control is already difficult; an inaccurate BOQ makes it almost impossible.
Use an experienced quantity surveyor, don't cut corners, it’s critical that every element is compiled meticulously- this is one of if not 'the' main factors in making your construction project a success.
To make sure your bill of quantities gives you cost certainty and the best opportunity of pricing accurately just click this link “Quantity Surveyor Services” and book a no obligation consultation. We’d love to hear from you.
T: 01538 711777
E: hello@hc-services.uk
W: https://hc-services.uk/quantity-surveyor/
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