If you are working on a big construction project, a quantity surveyor can help with the cost planning and budgeting throughout the project. These professionals help in a range of ways, and ultimately, their help can cut costs on your project. Wondering how a quantity surveyor can save you money? Take a look:
Budgeting
A budget always helps you to save money, whether you are doing a construction project or anything else. With a budget, you know how much you anticipate spending throughout the project, and that helps you avoid costly emergency loans in the midst of the project.
Costing over the whole lifecycle
When quantity surveyors help you create a budget for your project, they can create a budget for the project right in front of you, but they can also create an analysis of how much each material and decision is going to cost throughout its lifetime. This analysis can include everything from anticipated repair costs, to replacement costs, to tax deductions and more. Having this breadth and depth of knowledge at your fingertips lets you make decisions that will work for the long term. For example, a quantity surveyor can help you determine when saving a bit of money now may translate into lots of repair bills in the future, or conversely, they can help you see when an investment now will help save money in the future.
Helping with procurement
Part of a construction project is getting the supplies you need to complete your project, and quantity surveyors also help with this aspect. Because they work a lot in the industry, they tend to have lots of great connections. Their network can ultimately help you save money.
Resolving disputes
In some cases, quantity surveyors even help with things that don't seem to be directly connected to the budget of your project. In particular, these experts know a lot about commercial contract administration and dispute resolution. When you are doing a construction project, you are likely involved with lots of other companies and professionals, a quantity surveyor can step in and help with communication if there is a dispute. This helps to save money as it reduces the chances of people reneging on their contracts or a dispute stopping the work from going forward.
Managing risk
Quantity surveyors aren't just people who create budgets. Rather, they have intimate knowledge of the construction industry, and they can help you foresee the results of your expenditures and efforts. In particular, they can help you see any financial or physical risks associated with your project, and most important, they can help you minimise and avoid risk. Ultimately, that helps you avoid disaster and sidestep costly mistakes, saving you money.
Share14 September 2016
When I first took over the admin of the company, the records were a mess. I got them mainly sorted out. Then last year my worst nightmare came true, and we got a back audit on taxes from before my time. It was a lot of work, but luckily we have a great accountant who helped us to sort out all of our records and get through the audit. Now we have a bit of tax to pay back, but I know our records are in better order, and if we get audited again, we'll be fine. This blog is all about tax services and auditing.