18 JUL 2022
As the role of a Quantity Surveyor (QS) develops in the construction market, the recognition of the benefits they bring to the built environment grows accordingly. Professional quantity surveyors are helping to shape the world we live in, offering contractual and commercial advice to clients in the construction industry.
Qualified chartered quantity surveyors can save clients and businesses millions each year through effective procurement and financial control planning.
After the pandemic, the construction industry registered a strong recovery with a reported global spend of $1.57 trillion, which peaked in July 2021 (2022 engineering and construction industry outlook report, Deloitte). With the increase of construction and projects, practical and skilled application of key techniques is essential to ensure that projects run smoothly and provide value for money. This has led to surveyors facing a competitive and challenging market, with the demand for experienced talent being greater than ever before.
Effective cost management
As global construction activity grows, robust, reliable, and effective cost management procedures need to be implemented throughout the lifecycle of a construction project. Effective cost consultancy needs to be utilised from design stages and then throughout the construction and operational stages of a built asset lifecycle.
Without effective cost management, disappointment, delays and losses are inevitable within both the contractor and client’s project monitoring teams. However, this can be avoided by adopting clear and concise cost management procedures from the beginning which are administered by qualified professionals.
The sector needs to understand the different levels of services between basic quantity and cost measurement to the value creation experienced professionals and chartered surveyors can bring to a project.
With the construction sector poised for accelerated growth, and many complex ambitious projects on defined and fixed completion dates, the attention to cost management is becoming crucial to all those involved in the process.
Attaining the technical skills
Cost consultancy needs to be utilised from the design stage through to the construction, and operational phase of a built asset lifecycle. Therefore, the role of the cost consultant needs to encompass all aspects from the ground up.
We recently spoke to Julian Smith who is Senior Consultant at Stradia and the trainer for our Quantity Surveying in Practice course, who emphasises the importance of a quantity surveyor, “The need for quantity surveyors is significant. By 2024 a prediction of 24 billion will be spent on construction projects across key developing markets, therefore it is essential to have the skills to meet this global demand.”
To assist professionals in the construction industry and provide them with knowledge on the fundamentals of cost management, RICS has launched two essential training programmes, Foundation in Quantity Surveying and Quantity Surveying in Practice.
Both courses provide all the necessary basic competencies and tools required and expected of the profession, such as:
Foundation in Quantity Surveying
Whether you’re already a construction professional thinking about moving into the profession or someone who wants to learn the basics, our updated 6-month course will give you the knowledge and understanding of the role of quantity surveying, helping you on your journey into the profession.
Quantity Surveying in Practice
If you are studying your APC in quantity surveying or already working as a quantity surveyor, this certificate course will give you an in-depth technical understanding of construction methodology and contracts where you will learn how to establish, manage, and report on construction costs.
Overall, everyone can benefit from the programmes
Whether construction professionals are keen to understand and gain the key underpinning principles of quantity surveying or looking to move into the profession, everyone can all benefit from these training programmes.
As the industry grows, quantity surveyors need to ensure they have the skills that allow them to address key challenges presented by assessing and communicating risks at all levels in the world of construction.
Take a closer look and see what our training programmes can do to help you: