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Criteria for Project Success and the Role of Quality Surveyor and Cost Manager

   

Added on  2023-06-03

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FinanceData Science and Big Data
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Building Project 1
BUILDING PROJECT
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Criteria for Project Success and the Role of Quality Surveyor and Cost Manager_1

Building Project 2
Criteria for project success and the role of the Quality Surveyor (QS) or cost manager
Success of every project lies on several factors as set by the personnel on the ground.
Project team must always remain aware of commercial performance, forecasting on accuracy in
building, and maintaining deadlines in line with commercial calendar of the project. Correct
management of budget and contractual relationships of the building project is essential in
ensuring that a project becomes success. The involvement of Quality Surveyor in any project
help it to achieve it success (Oliver 2018, p. 34). For instance, Quality Surveyor ensures that the
financial position of building project remains to be accurately reported as well as controlled well.
Such managers make project of building to be success as they are responsible for managing the
contractual relationships between several parties involved in any specified building project. The
success of every project lies in operations of cost managers (Ryan 20181, p. 165). These
managers always have the responsibilities of advising on the potential of the site and working out
what the project’s client can afford to construct that in most cases termed as ‘feasibility.’ Project
with detailed information concerning costs of specified elements of work on the periodic basis
tends to enable payment to different operations to be conducted to date. Project with managed
costs tends to be successful because management of operational costs ensures that the initial
budget is not exceeded.
Cost manager or Quality Surveyor is always important personnel in every building
project. The key responsibilities of cost manager are diverse. The cost manager ensures that
commercial processes are adhered to across every business unit in a project and actively seek to
improve procedures and processes of building a project. Quality Surveyor also has the role of
ensuring there is a robust, accurate, and timely cost and value reporting at every level of building
a project. They ensure that there is accurate reporting of cash flow that takes place within the
Criteria for Project Success and the Role of Quality Surveyor and Cost Manager_2

Building Project 3
project (Obama 2018, p. 239). The manager also has the role of conducting cost management
that includes process of overseeing and forecasting. Cost manager offers different reports on
actual charges against estimate and identifies different underlying reasons for any variance.
Moreover, cost manager has the role of updating the monthly costs as well as commercial plans
for any building project. Quality surveyors help in ensuring that any main contract entered into
posses’ terms and conditions appropriate for building project with commercial dangers
identified. They have the role of ensuring that supply chains are engaged well with the
appropriate contract terms and conditions. In the process of their operations, cost managers have
the role of building and maintain good relationships with clients. Managers also have the role of
preparing applications for payment for every person involved in building project (Propato,
Clough and Polaczyk 2018, p. 17). Cost managers’ work in hand with the site management with
the aim of forecasting predicted spends together with cash recovery while ensuring that both are
kept in line with the target of building project. Moreover, cost managers work in hand with the
procurement team along with manager of project delivery to develop and monitor strategy of
procurement in project.
Importance of cost planning in building projects
Cost planning in any building project is key factor due to diligence step in the process of
preparing for the construction project. Cost planning tends to tell the building owner how much a
proposed project will cost up to its completion. In most cases, cost planning tells much on when
the expected expenses will most probably occur. The information provided in cost planning is
vital for obtaining financing of project and for determining whether the project can be profitable
(Atkins, Marsden, Diwan, & Zwarenstein 2016, p. 4). However, without cost planning in every
building project, owners of assets would enter unknowingly into plans of construction and
Criteria for Project Success and the Role of Quality Surveyor and Cost Manager_3

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