The Importance of a Quantity Surveyor Post-Contract

Valuations and payment certification

A critical part of a QS’s role in cost control and financial management includes attending site to undertake valuations, assessing progress, and advising on payment recommendations. This process helps maintain a positive cash flow and ensures contractors and subcontractors are paid in accordance with the contract terms.

Procurement and subcontract management

The QS will lead the procurement of subcontract packages and specialist services throughout the works – issuing tenders, evaluating bids, negotiating terms and placing orders. They then manage the commercial aspects of the contracts by processing payments, managing variations, and agreeing final accounts.

Contract administration and compliance

The contractual management of any project must be very closely monitored to avoid any costly delays or disputes. QSs play a key role here, ensuring compliance with contract provisions by preparing and/or issuing notices in respect of time and cost, maintaining accurate records, and acting as the commercial point of contact for any issues that may arise. If a contractor, for example, encounters unforeseen ground conditions, the QS will assess the cost implications, support the evaluation of time impacts, prepare a formal notice, and manage the subsequent negotiation.

Variation management and change control

Due to the complexity of construction projects, change is inevitable. When variations to the original contract scope arise, QSs play a key role in assessing these changes – ensuring they are properly valued in accordance with the contract and incorporated into applications for payment and cost reports. Proactive management is critical as, if not promptly agreed and integrated into the budget, variations can lead to budget overruns or cash flow challenges further down the line.

Risk identification and mitigation

There are a wide range of risks that could potentially arise during the construction phase of a project, including increased costs of labour, plant and materials, as well as delays in material supply, design changes, or unforeseen ground conditions. A QS must be aware of these risks and advise on mitigation measures and commercial contingencies to minimise project delays and financial exposure for their client.

Final account and project closure

As a construction project nears completion, the QS prepares the final account, reconciling all costs and valuing entitlements in respect of variations, extensions of time, and loss and expense claims. They assist in negotiating and agreeing the final account to achieve fair and transparent financial closure, as required by the contract.

If any issues arise during the agreement process, the QS can assist in resolving commercial discrepancies or disputes through negotiation or alternative dispute resolution forums.