A construction project requires a lot of materials and labor. A bill of quantities makes it easier for everyone to understand what needs to be done and how much it will cost. It also gives the owner more control during the bidding process.
It is often prepared by a quantity surveyor and used for cost estimation, tendering, and project management. It is also a basis for preparing a schedule of values.
Getting Started
A bill of quantities is a useful tool in the construction industry. It helps contractors understand the scope of work that needs to be done and also gives them an idea about the rates they can offer during tendering. This makes it easier for them to compare prices and choose the best one.
To prepare a BOQ, you must first review the project scope and specifications. Then, determine the amount of materials, equipment, and labor that is required to complete the project. This information is usually obtained from drawings and measurements. After determining the quantity, you can use a cost estimate to calculate the price.
The next step is to divide the project into sections or categories. For example, if you’re building a house, you could have separate categories for framing, electrical, plumbing, and flooring. Make sure to include all the items that are needed for each category or section, including any wastes. Then, add the estimated cost of each item to the total quantity.
Finally, you must add a few figures that are referred to as risk allowances. These are extra costs that may be incurred as a result of unforeseen obstructions or work to complete variations. Normally, these costs are priced at the contractor’s daywork rate. The contractor will then apply their required percentage addition for overheads and profits to the total cost of the project.
Itemized List of Materials
A bill of materials is an important tool to use in a variety of settings. It helps to ensure that everyone involved in the product creation process is able to communicate clearly and understands the parts, supplies or other items needed to produce a completed version of the requested item. It also encourages standardized communication between project team members and provides a framework for creating estimates and final bills. It also allows for planning ahead of time and lowering material waste after production cycles have ended.
Typically, an architect or engineer prepares a bill of quantities based on the project design and specifications. It is then included in the bid package for contractors on design-bid-build projects. Contractors then price the work based on the bill of quantities and compare their pricing to other contractors’ bids. If something is missed or incorrectly interpreted, the contractor must bring this to the attention of the owner and engineering team.
A residential construction budget template for Excel is a great way to create an accurate and easy-to-use itemized estimate. This template breaks down costs into categories such as site prep, water and sewer, foundation, masonry, plumbing, HVAC and appliances. This makes it easier for homeowners to understand what is being charged to them and feel comfortable that they are not getting overcharged. This is a simple form that can be completed quickly and easily using signNow’s online document management system.
Work Sections
If you’re working on a construction project, you need to know how much the work will cost. The best way to do that is to use a bill of quantities template. This tool can help you estimate materials, labor, and equipment costs for your building or renovation project. It will also help you create a schedule and budget for your work.
The first step in preparing a bill of quantities is called taking off. This involves analysing the drawings and specifications to determine the quantity of each element of work. This can be done by a professional quantity surveyor or by using an automated software program.
Once the work is broken down into sections or categories, you need to fill in the item numbers and quantities for each section. You should also add an extra 15% to the total quantity, which is used to account for wastes.
Once the quantity surveyor has finished preparing the bill of quantities, it can be used as a foundation for tendering and pricing. This can save the owner a lot of time and money. It will also give contractors a more level playing field when bidding for the contract. The more accurate the bill of quantities, the better the quotes will be. The bill of quantities can also be used to monitor progress. If you’re behind on flooring, for instance, looking at the BOQ will tell you to push ahead with other parts of the building so that the project stays on schedule.
Pricing
A bill of quantities is used during the tendering process, and it is typically prepared by a cost consultant or quantity surveyor. This ensures that the scope of work and the amount of materials required is clearly defined by a neutral party, which gives contractors an equal opportunity to submit quotes for the project. It also reduces the risk of underestimating the costs and protects owners with accurate cost controls and predictions.
The BoQ is normally broken down by work items and then by the construction activities within those work items. It is recommended by the RICS (Royal Institution of Civil Engineers) that the element structure that is used in the cost plan is replicated in the BoQ to give bidding contractors a consistent pricing framework. This makes it easier to compare contractor bids and monitor construction progress, as it will be easy to see what work has been completed so far compared to the estimated cost in the BoQ.
The BoQ will also contain a list of all the materials required for the entire project. These are the items that need to be bought and delivered, including concrete, steel, timber, electrical wires, plumbing materials, and so on. These are also known as the “build-up” materials. Each material is described in the BoQ with its name and specifications. The amount of each material needed is calculated by doing a “taking off” from the architect’s plans. The quantity is then multiplied by the rate per unit, which can be obtained from various reference guides or software.