In an Engineering Procurement Construction (EPC) project, Quantity Surveyors play a

critical role in reconciling various activities from project initiation to closeout. These
activities encompass a wide range of tasks aimed at ensuring project success, cost
control, and compliance. Here's a detailed list of additional activities that Quantity
Surveyors may reconcile throughout the project lifecycle:

1. Feasibility Study Reconciliation:

• Assist in conducting feasibility studies for the project.
• Reconcile cost estimates from the feasibility study with subsequent
detailed estimates.
2. Cost Benefit Analysis:
• Perform cost-benefit analysis for different project options.
• Reconcile potential benefits against project costs.
3. Financial Planning Reconciliation:
• Collaborate with project stakeholders to set financial goals.
• Reconcile financial plans with project budgets and timelines.
4. Insurance Reconciliation:
• Review insurance policies related to the project.
• Reconcile insurance coverage with project risks and requirements.
5. Claims and Disputes Reconciliation:
• Manage and reconcile any claims and disputes that arise during the
project.
• Work towards amicable resolutions and avoid costly legal battles.
6. Value Management Reconciliation:
• Participate in value management workshops to identify value-add
opportunities.
• Reconcile value management recommendations with the project's scope
and objectives.
7. Progress Payment Reconciliation:
• Review progress reports and site inspections to assess completed work.
• Reconcile progress payments to contractors based on work completed.
8. Cash Flow Reconciliation:
• Prepare and maintain cash flow projections for the project.
• Reconcile actual cash flows with projected figures.
9. Retention Reconciliation:
• Track and manage retention amounts withheld from contractors.
• Reconcile retention releases upon project milestones.
10. Liaison with Stakeholders:
• Act as a liaison between the project team, contractors, and clients.
• Reconcile different stakeholders' interests and expectations.
 11. Audit Reconciliation:
• Facilitate internal and external audits related to project costs and
financials.
• Reconcile audit findings with project records and financial statements.
12. Procurement Reconciliation (Post-Contract):
• Monitor and reconcile procurement activities during the construction
phase.
• Verify that procurement aligns with project needs and timelines.
13. Asset Management Reconciliation:
• Assist in reconciling project assets, equipment, and inventory.
• Coordinate asset handover and record keeping for closeout.
14. Defects Liability Reconciliation:
• Address defects liability period claims and rectifications.
• Reconcile costs related to defects and warranty work.
15. Project Closeout Reconciliation:
• Facilitate the closeout process, including final accounts and project
handover.
• Reconcile project outcomes with initial project objectives.
16. Lessons Learned Reconciliation:
• Conduct a post-project review to reconcile lessons learned.
• Use feedback to improve processes and future project performance.
17. Final Report Reconciliation:
• Prepare the final project report, including all reconciliations and
outcomes.
• Summarize key achievements and challenges during the project.

Quantity Surveyors are involved in various aspects of the project's financial and
contractual management. Their reconciliations contribute to the project's overall
success, helping to ensure that the project stays on track, meets quality standards, and
stays within budget constraints. The above list highlights the vast range of activities
that Quantity Surveyors are responsible for reconciling throughout the project
lifecycle.