When starting on a self-build project, especially a smaller one, hiring a quantity surveyor comes up. Many people whether it’s worth bringing in an expert for a project that might seem manageable. However, there are strong reasons to consider in hiring one, even for smaller, self - build projects. This article explores the importance of quantity surveyors, their skills, and the cost of hiring one.
What is a Quantity Surveyor?
A quantity surveyor, also known as a cost manager/consultant, plays a vital role in the field of construction. This professional is responsible for managing all costs related to large-scale commercial or small, self-build projects.
Qualifications
This person should have the following skills and qualities:
- Strong verbal and written communication skills
- Good at financial math
- Good judgement and decision-making
- Skilled in problem-solving
- Uses critical thinking and reasoning
- Excellent negotiation and interpersonal skills, confident and professional
- Strong financial and commercial understanding
- Proficient in Microsoft Office
- Able to work well in a team
- Detail-oriented and accurate
- Strong work ethic, well-organised, and meets tight deadlines
To become a quantity surveyor, you can choose from university degrees, postgraduate courses, apprenticeships, or RICS qualifications. The associate (AssocRICS) is for those with work experience, while the chartered (MRICS) is for those with surveying qualifications and experience.
You will need to meet RICS' requirements and pass several assessments to get certified. Specifically, the job of this person is present in the entire project:
- Pre Construction
A quantity surveyor consults with clients for cost analysis and works with the design team to keep designs within budget. Moreover, the work also includes checking insurance costs and other potential liabilities with the clients. If no construction firm handles the project, this individual can select potential firms that might bid on it. For a self-build project, this professional can serve as an expert in choosing the best people to work for you.
- Construction
Quantity Surveyor tracks current expenses and makes the payment bills for suppliers, contractors, and other construction parties. Additionally, this person reviews project changes, checks their budget impact, and solves construction decision differences among project stakeholders.
- Post Construction
A quantity surveyor manages and completes expense documents and project details, working with the construction team for any financial or technical audits after the project.
The goal is to complete the project within budget while ensuring high quality and following laws and regulations.
Quantity Surveyor vs Cost Engineer
Before understanding the value of a quantity surveyor, it’s important to understand the difference between a quantity surveyor and a cost engineer. Both professionals work closely in the construction industry and handle the financial aspects of a project. However, quantity surveyors typically have broader responsibilities – they manage overall costs, contracts, and purchases. In contrast, a cost engineer deals with technical aspects, such as controlling expenses and estimating costs based on engineering designs.
Sometimes, they combine their roles with other titles in the industry:
- Project Manager
- Construction Estimator
- Cost Manager
- Certified Quantity Surveyor
- Construction Manager
- Cost Planner
- Cost Engineer
- Contract Administrator
- Commercial Manager
- Construction Economist
In self-build projects, having a quantity surveyor is beneficial because managing contracts and procurement is easier than cost engineering.
Where do Quantity Surveyors Work?
Quantity Surveyors can work in a range of sectors, including commercial construction, residential development, and infrastructure projects. They can also work in commercial or operations management, project management, finance, risk, or logistics with various companies. In the UK, they mostly work on large projects but are increasingly hired for smaller self-builds and residential investments.
When it comes to investment properties, they are increasingly in demand. Investors want to ensure that their financial venture not only meets the budget but also maximise returns. They can forecast future maintenance costs and ensure efficient use of materials, which boosts the property's overall value.
Costs of Hiring a Quantity Surveyor for a Self-Build Project
The fee depends on the project’s size and complexity. For smaller projects like a self-build, you may negotiate from the 5 to 15% charge from the overall projected cost. Some of them, on the other hand, have a flat fee based on the project’s requirements.
While this may seem like an extra expense, it’s more important to consider the savings a quantity surveyor can provide. That means reduced costs and fewer construction mistakes. They can also provide you with a clear picture of potential costs right from the start. Construction projects are known for going over budget, so their ability to provide accurate cost estimates is very useful.
Valuable Insights We Gain from Hiring a Quantity Surveyor
One of the extra benefits we gain from hiring a quantity surveyor is the opportunity to learn from their knowledge. If you’re managing a self-build and planning future projects, working with them helps you learn procurement, budgeting, and management. By the time you finish your first self-build, you'll understand the industry better and know the best practises for future projects.
The construction industry’s demand for Quantity Surveyors
The demand for quantity surveyors is increasing in the UK due to a rise in residential and commercial projects. A report from the Royal Institution of Chartered Surveyors (RICS) warns that the shortage of skilled professionals, including quantity surveyors, could impact construction project delivery across the UK.
Having them on your construction project helps you handle regulatory changes, market fluctuations, and cost pressures more effectively.
Final Verdict
Is it worth it? In conclusion, hiring a quantity surveyor for a small self-build might seem costly, but it can be a smart investment. The savings and risk management they provide can easily be worth more than their fees.
Whether you’re managing a small self-build or developing an investment property, this professional offers invaluable expertise. They offer that assurance so you can be successful in managing your own construction activity.
Truly, it is worth getting a quantity surveyor for your small, self-build project. Know more about Quantity Surveyors. Visit us at the College of Contract Management for more information.
