A Quantity Surveyor is generally a tertiary qualified construction industry expert providing guidance in the construction industry. The word Quantity comes from the method of costing using a Bill of Quantities. This is a breakdown of the types of material required, the amount of material and the labour component cost. This could be used to provide the construction value from the feasibility stage of a project to the role as an expert witness during conflicts involving courts or arbitration.
Quantity Surveyors essentially specialise in the estimation of construction works. They can be involved at various phases of the construction process and their role can vary depending on the timing of their involvement. Often Quantity Surveyors are used to provide Depreciation Schedules at the end of a project or estimate the building works for a Depreciation Report to produce an independent value for a third party building project. Additionally, they are often contracted by banks and developers to provide cost estimates to date for the additional drawdown of loans funds to keep the project on budget and in line with expectations.
As with all industries, experience and training develops the best operators. Quantity Surveyors either undertake extensive university studies and / or gain relevant industry experience to be able to become members of the Australian Institute of Quantity Surveyors. With this recognition, they are considered leaders in their field and often specialise to become either independent cost to complete estimators, property depreciation experts, reviewers of builders tender submissions and other. This specialisation could be tailored to a particular type of building project from Road Construction to High Rise Residential and many others in between.
Quantity surveyors have often been involved in the costing, construction and completion phases of the project and are able to clearly understand the cost elements involved in the building project. This makes them ideally positioned to complete the Depreciation Schedules required by property investors. Even if they were not directly involved in the project, experience in similar projects put them in an ideal place to be able to estimate building and construction costs for property depreciation purposes.