A bill of quantities is necessary to properly forecast the cost of construction materials and how much to spend on the project.
A bill of quantities is a document denoting the total quantity of materials. The bill will explain what materials are needed in weight, length, and area. The document is prepared by a quantity surveyor, using the drawings and specifications of the construction project. After its completion, the bill is handed to suppliers to prepare their prices for the project. Quantity surveyors must prepare the document by sticking to a specific format. A fixed format is beneficial to the different tenders who will be viewing the document. Therefore, the meaning must be clear so there’s no room for misinterpretation.
The bill of quantities is crucial for calculating construction cost because different suppliers can draw up their pricing scheme using the same quantities. Thus, suppliers do not have to draw their own conclusions about material quantity by referring to the drawings and specifications. The bill of quantities is useful in other processes like:
- Providing a basis to prepare for a final account.
- Providing necessary knowledge for valuation payments.
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