Factors that Influence Inventory Costs in a Construction Business
Inventory can be viewed as a current asset account found on a business’s balance sheet, consisting of all raw materials, work in progress, and finished goods that a company has accumulated. It refers to raw materials used in the production process as well as the…
Impact of Variation Orders on Project Performance
A variation order is a step in the change management process that enables the implementation of changes to the construction project brief or scope of work. The variation orders have to be approved by the client, the contractor, and the architect. After the first scope…
Variations in Construction Projects: What Influences their Frequency of Occurrence?
Variations are inevitable in construction projects. This is because the construction industry is very complicated and unpredictable. The occurrence of these variations affects the project’s deadlines and estimated costs. Also, the frequency of their occurrence varies from one project to another depending on various factors….
The Traditional Method of Preparing Bills of Quantities
The traditional process of preparing bills of quantities can conveniently be broken down into two main processes. These are ‘taking off’ and ‘working up’. It officially starts when the quantity surveyor receives drawings from the architect and engineers and serialises them ready to start extracting…
3 Sums Included in a Bill of Quantities
A bill of quantities contains an itemized list of work items to be executed with a detailed description of the unit rate tied to it. Where some work items cannot be measured and described according to the standard method of measurement in use, they are…
6 Main Types of Bills of Quantities
A bill of quantities is a document that is prepared by the client’s quantity surveyor as a basis for estimating the cost of a construction project. It contains a list of all the work items and detailed descriptions that form part of the scope of…