Glossary
Bills of Quantities
Bills of Quantities are used for construction works where tenders are being sought from building contractors. The Bills are produced in accordance with the New Rules Measurements (NRM).
BIM
Building information modelling (BIM) is a 3D-model based digital process that equips construction professionals with the insight and tools to more efficiently plan, design, construct, and manage buildings and infrastructure.
Budget Estimates/ Cost Plan
At the start of a project, a detailed budget estimate / cost plan will forecast the cost of the building works including M&E services.
BREAAM
BREAAM is a measure to establish how environmentally friendly a building is. A building is assessed on the specification of the works and score points. Over a number of points will give a different score. Buildings usually are aiming to achieve status Very Good. This impacts the cost of the building. Excellent is the highest score.
Cash Flow Forecasts
A forecast of expenditure on a monthly basis over the contract period, based upon the construction programme.
Change Management
In construction projects delay is a very expensive and often client changes can cause this. Actively managing change during the construction phase is critical for a successful completion. Implementing a clear process in the construction phase reduces this risk.
COBie
Construction Operations Building Exchange (COBie) is a data format for the publication of a subset of building model information focused on delivering building information not geometric modelling.
Contract Preparation
Advice on which of the Standard Form of Building Contract issued by a recognised body is to be used for the project e.g. JCT, FIDIC, DOM, subcontract etc.
Claims
In the event of a dispute arising, a claim is prepared to substantiate the client’s position.
Construction Design Management
Construction Design Management is a statutory requirement to ensure Health and Safety is managed in construction projects. A Principal Designer is appointed by the client to fulfil this role.
Dispute Resolution
When disputes arise during construction projects there is contractual route to resolution which is agreed between the parties. Clients will normally appoint a Quantity Surveyor to advise on the disputed issue and represent them in the proceedings. Usually this is on a time charge basis.
Employers Agent
On the Design & Build type contracts clients can appoint an Employer’s Agent to act on their behalf to administer the contract. Quantity Surveyors are usually in a good position to do this because of their knowledge of the standard building contracts.
Feasibility Studies
A feasibility study is carried out in the early stage of a project to establish the requirements and a ROM cost for the works so that a decision can be made on whether the objectives are met or not.
FIDIC
The International Federation of Consulting Engineers is an international standards organisation that produces the FIDIC family of contract templates. These contracts are internationally recognised and used on projects where the parties involved may differ in nationality from the ruling jurisdiction.
Final Account
After the works are complete the final account of the works is prepared and agreed with the contractor.
Financial Statements
As the works proceed on site the Quantity Surveyor will produce regular cost reports which keep the client up to date with the estimated final cost of the project.
IFC
An Intermediate Form of Contract (IFC) is drawn up for projects which involve all the recognised trades and skills of the industry, where detailed contract provisions are needed, but without complex building service installations or other specialist work.
Project Management
On large scale building projects it is sometimes advisable to appoint a project manager in addition to the design team. The role of the project manager is to ensure that the programme is kept to.
Royal Institution of Chartered Surveyors
A recognised professional body which regulates and monitors its member with codes of conduct. Membership to this body is via the Assessment of Professional Competence and subscription. Members are required to carry out Continued Professional Development.
RIBA Plan of Work
The system of planning a construction contract issued by the Royal Institute of British Architects (RIBA).
Quantity Surveying
Often asked what is a Quantity Surveyor? A Quantity Surveyor is a person who has trained to carry out a function in the process of procuring a building. Traditionally a Quantity Surveyor literally surveyed the quantities by measuring the elements of the building works whereby the term a brick counter came about. Once carried out, the measurement would then form a list of works that a contractor will then price. Once all these schedules are added up this will form the basis of the overall offer the contractor will submit to carry out the works. Once the offer has been agreed a contract will be drafted and sign by both parties on the agreed sum of money. A chartered Quantity Surveyor is a person who has achieved a standard that is recognised by the RICS see above.
Standard Form of Building Contract
A standard form of building contract usually The Joint Contracts Tribunal Form or the NEC form is a standard form of building contract which have been tried and tested over the years and where the parties are familiar with the distribution of the risk. These contracts are similar and cover area such as payment, dispute, termination, variation etc.
Schedule of Works
Schedules of works are lists of items of works that need to be carried to complete the project.
Specification
A specification is a comprehensive written document that identifies all the requirements of that particular piece of work which also sets out which Building Regulations that it needs to comply with.
Sustainability
Sustainability is a hot topic in construction projects. Projects may need to meet planning requirements, usually 30 per cent of renewables, and this has an impact on cost.
Taxable Allowance
In construction projects cost incurred can be written off against corporation tax. This is called Capital Allowances. Quantity Surveyors are in a good position to advise clients on this cost as the contract sum is usually broken down into the relevant elements of the works. Enhanced Capital allowances are also allowed whereby a greater level of cost can be written off against tax at an earlier stage.
Tender Appraisal
Tenders are returned to the Quantity Surveyor. The tenders are also passed to the design team for comment. The Quantity Surveyor will align the bids to identify the lowest tender but also the irregularities of the bid to establish if a contractor has not fully appreciated the works.
In our tender appraisals we also carry out tender interview and score each contractor on a performance matrix that is carried out by a panel of interviewers usually consisting of the client, the designers and ourselves.
Tender Documentation
Tender documentation is a compilation of documents that will form an agreement with a contractor to carry out the works for a sum of money. Tender document can be but not limited to the following:-
Drawings, specifications, Bills of Quantities, Health and Safety Plan, Site condition surveys, archaeological surveys, Mechanical and Electrical requirements, structural design etc.
Tender Lists
A tender list is a list of contractors that would be invited to submit a tender for the works. Usually to get on to this list the contractors need to be vetted for suitability for the works. Over a certain value the tender need to advertised in the Official Journal of the European Union (OJEU).
Valuations
During the progress of the works a Quantity Surveyor values the works carried out on normally a monthly basis, using the priced contract documents and will also recommend payment for variations to the contract instructed by the contract administrator.
Value Engineering
Projects can be over designed therefore to implement a value engineering workshop at a critical time prior to contract award brings in the contractors knowledge of alternative solutions that can bear greater cost efficiencies.