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Key Responsibilities:
1. Cost Estimation and Budgeting:
- Prepare cost estimates for construction projects, including labor, materials, equipment, and overheads.
- Work with clients, architects, and engineers to establish project budgets and cost plans.
- Conduct feasibility studies to assess the financial viability of construction projects.
2. Tendering and Procurement:
- Prepare and manage the tender process by soliciting bids from contractors and suppliers.
- Evaluate tenders and negotiate with contractors to ensure that the most cost-effective solution is selected.
- Ensure that all tender documents, including specifications, drawings, and terms of contract, are complete and accurate.
3. Cost Control and Monitoring:
- Monitor the costs during the construction phase, ensuring that the project remains within budget.
- Identify any variations or changes in the scope of the project and assess their impact on the budget.
- Provide regular cost reports to clients and stakeholders, indicating potential savings or cost overruns.
- Advise on cost-effective construction methods and materials to optimize project expenses.
4. Contract Administration:
- Prepare and administer construction contracts, ensuring compliance with the terms and conditions.
- Ensure that payments to contractors and suppliers are processed according to the contract terms.
- Resolve disputes related to cost claims, contract variations, and progress payments.
5. Measurement and Valuation:
- Measure quantities of materials, labor, and work completed on-site.
- Prepare interim valuations for progress payments to contractors, ensuring accuracy and compliance with contract terms.
- Assess the value of completed works for payment purposes and make recommendations for payment certification.
6. Risk Management and Financial Reporting:
- Conduct risk assessments and provide financial advice to minimize risks and unforeseen costs.
- Track project costs and cash flow, ensuring timely and accurate reporting to stakeholders.
- Advise on insurance and bonding options, and manage claims and disputes when they arise.
7. Project Management Support:
- Support project managers and engineers by providing cost-related insights throughout the project lifecycle.
- Help in schedule management, making sure that financial resources are allocated appropriately according to project timelines.
8. Value Engineering and Cost Optimization:
- Engage in value engineering processes, identifying opportunities to improve quality, reduce costs, and enhance the overall value of the project.
- Suggest alternative methods, materials, or designs that could help in reducing overall project costs while maintaining the required standards.