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REPUBLIC OF THE PHILIPPINES

POLYTECHNIC UNIVERSITY OF THE PHILIPPINES
MASTER OF SCIENCE IN CONSTRUCTION MANAGEMENT
(OPEN UNIVERSITY-LOPEZ, QUEZON)

SUBJECT: MSCM 602– QUANTITY SURVEYING AND COST MANAGEMENT

NAME: ALEA, CYRIL ANDRADE
STUDENT NUMBER: 2022-00867LQ-0
SECTION CODE: MSCM-LOPEZ
YEAR LEVEL: FIRST YEAR
ASSIGNMENT NO.: 1 (Presentation Review)
DATE: August 27, 2023
TITLE: QUANTITY SURVEYING and COST MANAGEMENT (MSCM 602)

Quantity surveying and construction cost management play indispensable roles in the
construction industry, ensuring projects are financially feasible, controlled, and executed
efficiently. Quantity surveyors, often dubbed "CA's of Engineering," manage diverse tasks across
project phases. They handle duties like initial budgeting, bid document collection, contractor
negotiation, and on-site work valuation. Besides assessing insurance claims, they create bills of
quantities (BOQs), offer cost-planning advice, aid in contractor selection, and oversee contract
valuation's financial aspects. Their pivotal role guarantees adherence to budgetary constraints,
cost-effective outcomes, and project success.

Successful quantity surveyors require a broad skill set. Effective communication is vital for
expressing design needs and pricing info accurately. Technical skills are crucial to prevent errors
in project documentation. Profound familiarity with building materials, construction methods, and
industry practices is essential. Clear comprehension of construction drawings, precise
calculations, and organizational aptitude enable them to grasp intricate project details. Accurate
cost prediction, factoring in various elements, underpins effective decision-making. Knowledge of
contract law and a client-centric approach facilitate valuable guidance during project execution.

The quantity surveying process encompasses distinct project stages, each serving
specific purposes. Pre-tender collaboration with clients establishes project terms and tentative
estimates based on architectural sketches. During tendering, meticulous review of tenders
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ensures accuracy, while comprehensive bills of quantities emerge from detailed blueprints.
Negotiations aid contractor selection. Post-tender, surveyors assess bids, recommend
contractors, and manage finances based on contractual obligations. The post-contract phase
involves finalizing accounts, accounting for deviations, and thorough financial evaluations.

Financial viability assurance is another key facet of construction cost management. Cost
control, budgeting, forecasting, estimating, investment appraisal, and risk analysis strike the right
balance between cost, quality, and project timelines. Methods like parametric, analogous, bottom-
up estimating, three-point estimating, and vendor bid analysis ensure accurate cost estimation.
Reserve analysis, considering quality costs, and project management estimating software
enhance cost projections.

In conclusion, quantity surveying and construction cost management are indispensable

for efficient construction project management. They ensure successful, cost-effective projects that
align with budgetary constraints. Competent quantity surveyors possess a diverse skill set and
contribute from pre-tender to post-contract phases. Construction cost management maintains
financial control while optimizing cost, quality, and timeline equilibrium. Stakeholders can enhance
project execution and financial accountability by comprehending and integrating these principles.