Whether you are a contractor or an owner, it is important to have a Bill of Quantities in place to document the scope and quality of your construction project. A good bill of quantities will allow you to see progress, compare quotes, and get a clear idea of how much work is being done on your project. These documents can be prepared in a variety of ways. However, a standard methodology is a good way to avoid misunderstandings and disputes over prices.
One way to prepare a bill of quantities is to divide the work into sections. This will help to determine how much of each type of work will be needed. By breaking down the work into sections, you will be able to obtain accurate prices from subcontractors. If you are a contractor, you may also be able to measure the materials that you need to complete each section of your project. This helps you keep track of how many materials are being used each month.
A Bill of Quantities should contain a list of all the materials and units of measurement that you need for your project. The numbers you put in your preconstruction document must be exact and mistake-free. You may also be able to include a contingency sum, which is an amount you cannot predict. If you have a lot of waste on your project, you should factor that into your bill of quantities. This helps you to calculate the amount of invoice you will have to pay to your contractor.
You can also use Microsoft Excel to help you with your preconstruction budgeting. The program can be used to make tabulations, itemize your project, and create payment applications. You can even share your document with multiple subcontractors. If you want to borrow capital quickly, you can also use Flexbase to analyze payments data to find lending rates. Using a schedule of work will also help you to identify significant work that will need to be done. Keeping your preconstruction documents in a structured format will help you stay on top of your project’s progress and will keep you on the same page with your contractor.
A preconstruction document should be easy to read and understand. It should include the construction schedule, the project’s start date, and the end date. It should also include the key people involved in the construction project, such as the contractor, the architect, or the engineer. This document should also be simple in format.
Having a bill of quantities in place will allow you to ensure that all contractors that you tender for your project will be charging the same amounts for each item. It will also help to avoid misunderstandings and disputes over the price of the project.