A major contributing factor to a Projects success lies in accurate Quantity Surveying and Cost Management. FAEC in-house team utilizes a variety of effective and proven techniques in delivering projects within agreed budgets. Our extensive knowledge and experience in the local market coupled with a team of competent and experienced Quantity Surveyors and Cost Engineers ensures that the Client is always in control of costs from inception to completion.
The FAEC QS Team works hand-in-hand with the Client and Design/ Engineering Team to assess the project's requirements so that all key deliverables, timescales, restrictions and desires are fully understood, reflected and accounted for throughout the entire project lifecycle. We optimize and update the project cost at every stage through our proven methodologies, benchmarks, cost models, cost data, quality checks, and with our intimate market knowledge and understanding of current prices of labour, materials and plant.
In combination with a sound understanding of design objectives and early stage decisions, FAEC’s approach to cost management is driven by a real commitment to provide maximum value/ return for a Client’s investment.
One of our key strengths is our capability to produce accurate tender documentation including bills of quantities and construction cost estimate using traditional Quantity Surveying skills complimented with modern technology. This emphasis of getting it right from the beginning creates a solid base to continue our service throughout the entirety of the project and helps reduce risk and promote certainty of time and money.
Quantity Surveying and Cost Management Services:
FAEC has extensive experience in undertaking major building, health care, recreational, security, site development/ infrastructure and marine projects and the comprehensive Quantity Surveying and Cost Management services we can deliver are as follows:
FAEC quality management and procedures (QMS: ISO 9001:2015), environmental (EMS: ISO 14001:2015), health and safety (HSE: ISO 45001:2018) are ISO certified and we ensure that all aspect of our operations are fully compliant. For the specific needs of every Project, FAEC adheres to the following steps:
Cost Estimation Process:
Cost Estimating is a predictive process used to quantify, cost, and price the resources required by the scope of an investment option, activity, or project. The output of the estimating process, the Cost Estimate, may be used for many purposes, such as:
Cost Estimating may be used to determine the cost of any investment activity, such as building an office or process power plant, developing a software program, or producing a stage play. The primary estimating focus will be applied to support the creation of capital assets (site development and infrastructure, a building, industrial facility, bridge, highway, etc), however, the estimating processes described can be applied to any investment activity.
The basic estimating steps are the same:
Furthermore, the Cost Estimate serves other purposes besides establishing the budget for a project. It also serves as a tool or resource used for both scheduling and cost control of projects. The estimate not only establishes a project budget, but plays an equally important role in monitoring the budget during project execution. It is the relationship between estimating, scheduling, and cost control, which is typically identified by the term “Cost Engineering” that serves as a driver for successful and cost-effective projects. Thus, an effective estimate must not only establish a realistic budget, but must also provide accurate information to allow for scheduling, cost monitoring, and progress measurement of a project during execution.