Fundamentals of Quantity Surveying and Cost Estimation

Quantity surveying is a profession in the construction industry that involves managing the costs and financial aspects of a construction project. A quantity surveyor, often referred to as a QS, plays a crucial role in ensuring that a construction project stays within budget and that all financial aspects are well-controlled. Their primary responsibilities include estimating the costs of materials, labour, equipment, and other resources needed for a project. They also prepare bills of quantities, which itemise the materials and labour required, and help in the procurement process.

Cost estimation, on the other hand, is a fundamental part of quantity surveying. It involves predicting the expenses associated with a construction project from inception to completion. Cost estimators use historical data, market rates, and other factors to provide accurate cost projections. These estimates are crucial for project planning, budgeting, and cost control throughout the construction process, ensuring that the project is financially viable and completed within the allocated budget.

Quantity surveying and cost estimation are integral to effective project management in the construction industry, helping to control costs and ensure project success.

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• Introduction to Quantity Surveying and Cost Estimation 07:00

  • 1: Introduction to Quantity Surveying and Cost Estimation Preview 07:00

• Construction Materials and Methods 07:00

  • 2: Construction Materials and Methods 07:00

• Measurement and Quantity Takeoff 07:00

  • 3: Measurement and Quantity Takeoff 07:00

• Preliminary Cost Estimation 07:00

  • 4: Preliminary Cost Estimation 07:00

• Elemental Cost Estimation 07:00

  • 5: Elemental Cost Estimation 07:00

• Rate Analysis and Pricing 08:00

  • 6: Rate Analysis and Pricing 08:00

• Cost Estimation Software 07:00

  • 7: Cost Estimation Software 07:00

• Tendering and Procurement 07:00

  • 8: Tendering and Procurement 07:00

• Cost Control and Budgeting 07:00

  • 9: Cost Control and Budgeting 07:00

• Valuation and Final Accounts 07:00

  • 10: Valuation and Final Accounts 07:00

• Legal and Contractual Aspects 07:00

  • 11: Legal and Contractual Aspects 07:00

• Professional Ethics and Standards 07:00

  • 12: Professional Ethics and Standards 07:00

• Additional Course: Accounting Fundamentals 54:00

  • 13: Introduction to Accounting 06:00
  • 14: The Accounting Cycle 12:00
  • 15: Financial Statements 09:00
  • 16: Accounting for Assets 09:00
  • 17: Accounting for Liabilities and Equity 09:00
  • 18: Special Topics in Accounting 09:00

In this captivating course, you'll explore the following enlightening chapters:

Chapter 1: Introduction to Quantity Surveying and Cost Estimation

• Overview of the construction industry
• Role and importance of quantity surveyors
• Cost estimation in construction projects

Chapter 2: Construction Materials and Methods

• Types of construction materials
• Construction techniques and methods
• Understanding construction drawings and specifications

Chapter 3: Measurement and Quantity Takeoff

• Principles of measurement
• Measuring and quantifying construction materials
• Use of measurement tools and software

Chapter 4: Preliminary Cost Estimation

• Cost breakdown structures
• Estimating costs at the concept and feasibility stages
• Factors affecting cost estimation

Chapter 5: Elemental Cost Estimation

• Work breakdown structure (WBS)
• Estimating costs by construction elements
• Cost databases and price indices

Chapter 6: Rate Analysis and Pricing

• Unit rates and rate analysis
• Pricing of construction items
• Labour, material, and equipment costs

Chapter 7: Cost Estimation Software

• Introduction to cost estimation software tools
• Practical exercises using software
• Advantages and limitations of software

Chapter 8: Tendering and Procurement

• Preparing and issuing tenders
• Tender evaluation and contractor selection
• The role of the quantity surveyor in procurement

Chapter 9: Cost Control and Budgeting

• Monitoring and controlling project costs
• Variance analysis and reporting
• Budget development and management

Chapter 10: Valuation and Final Accounts

• Interim payment valuation
• Final account preparation
• Handling claims and variations

Chapter 11: Legal and Contractual Aspects

• Construction contracts and forms
• Contractual disputes and resolutions
• Contract administration

Chapter 12: Professional Ethics and Standards

• Code of ethics for quantity surveyors
• Professional standards and responsibilities
• Case studies and ethical dilemmas
  
  

These course chapters will provide a comprehensive understanding of the fundamental principles and practices of quantity surveying and cost estimation in the construction industry. Students who complete such a program will be well-prepared for a career in this field.

Get a free "Accounting Fundamentals" course when you enroll in this one.

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The course "Fundamentals of Quantity Surveying and Cost Estimation" is designed for aspiring construction professionals, including students, recent graduates, and individuals seeking a career in the construction industry. It provides essential knowledge and skills in quantity surveying and cost estimation, making it an ideal choice for those looking to excel in project management, budgeting, and cost control within the construction sector.

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