Quantity Surveying (QS) is a profession within the construction industry that involves managing and controlling costs throughout the entire construction project lifecycle. Here's an overview of Quantity Surveying:

1. Pre-contract Stage:

-        Feasibility Studies: Quantity Surveyors (QS) may be involved in conducting feasibility studies to assess the viability of a project from a cost perspective.

-        Cost Planning: QS prepares initial cost estimates and budget forecasts based on project requirements, specifications, and available information.

-        Tendering and Procurement: QS assist in the procurement process by preparing tender documents, evaluating bids, and negotiating contracts with suppliers and subcontractors.

2. Contract Administration:

-        Contract Management: QS administer contracts between clients, contractors, and subcontractors, ensuring that all parties adhere to contractual terms and conditions.

-        Valuations and Payments: QS assess progress on-site, measure work completed, and issue payment certificates to contractors based on the agreed-upon payment terms.

-        Change Management: QS manage variations and change orders throughout the project, assessing their impact on cost and schedule and negotiating adjustments to the contract sum as necessary.

3. Cost Control:

-        Cost Monitoring: QS track project costs against the budget, analyzing expenditure, and identifying any cost overruns or potential savings.

-        Risk Management: QS assess and mitigate financial risks associated with the project, such as changes in market conditions, unforeseen circumstances, and fluctuations in material prices.

-        Value Engineering: QS identify opportunities to optimize costs without compromising quality or performance, seeking alternative solutions and value engineering options to achieve cost savings.

4. Post-contract Stage:

-        Final Accounts: QS prepare final accounts at the end of the project, reconciling actual costs against the budget and ensuring that all contractual obligations are fulfilled.

-        Dispute Resolution: QS may assist in resolving disputes and claims related to costs, providing expert advice, and supporting clients in negotiations, mediation, or arbitration proceedings.

5. Specialist Services:

-        Cost Estimation: QS prepare detailed cost estimates for construction projects at various stages of development, from conceptual design to detailed design.

-        Life Cycle Costing: QS assess the long-term costs associated with owning, operating, and maintaining built assets, helping clients make informed decisions about investments and asset management.

-        Facilities Management: QS may provide facilities management services, including asset valuations, maintenance planning, and life cycle costing analysis, to optimize the performance and value of built assets over time.

Overall, Quantity Surveying plays a vital role in ensuring that construction projects are delivered on time, within budget, and to the required quality standards, providing valuable expertise in cost management, procurement, and contract administration throughout the project lifecycle.