Post Contract Cost-Control by Quantity Survey (QS)

This article discusses the importance of post-contract cost control for a project quantity surveyor. It explains the significance of sustaining an effective post-contract cost control plan and the duties of a project quantity surveyor in post-contract cost control. The article also highlights the importance of monthly financial statements for the success of a construction project.

Quantity Survey (QS) 1
Quantity Survey (QS)
by (Name)
Course
Instructor/Professor
Institution
Location
Date

Quantity Survey (QS) 2
Task 3b – Post contract cost-control by Quantity Survey (QS)
Cost control is an important part of any construction project. It means, by definition,
ensuring that the construction cost of the project remains within the limits of the client’s
budget. The post contract cost control however is the stage of cost control after the contract
has been finalized (Cost control (2016) see also (Seleesy, I. 2016, 139).
The significance of sustaining an effective post-contract cost control for a project quantity
surveyor
The success of post contract cost control is determined by the pre contract stage of
construction. The pre contract stage consists of cost planning; design and client’s needs
and wants as well as tendering. These initiatives draws such expectations as reasonable
cost advice by the quantity surveyor, realistic allocation of the budget to different areas of
construction and monitoring to find solutions for any cost problem. The project quantity
surveyor takes charge and monitors all the cost in a construction project (Uk essay
(2016). {Towey, D. 2017, 309}.
Sustaining an effective post-contract cost control plan is important for maintaining
good relationship between the contractor and client. The aim is solely to ensure cost effective
operations with relative consideration to government regulations and the environment. The
quantity surveyor ensures no changes are made till the project finalises so that the client pays
the final price of the project. This is important in guaranteeing good relationship with the
client. (QSD PQSL series (2015) (Ogunlan, S. 2003, 245).
Monthly financial statements to the Employer
A monthly financial statement provides updates on the project’s financial status
progress every month to either the employer or architect. It is very essential for the

Quantity Survey (QS) 3
success of the construction project since it provides statements of financial position of the
company. Moreover, it gives a view of cash flow amounts generated to particular goods
and services. (ICAEW (2016). Monthly financial statements helps employer keep abreast
with the company’s financial commitments, monitor spending of money and control
budget. Preparing financial statement helps forecast future payments and improve
spending through previous budget comparisons. (Thomsett, M. 2001, 176) (Sweett
(2016).
The duties of project quantity surveyor in post contract cost control
Quantity surveyor provides the client with actual expenditure, monthly financial
statements to enable tracking of cash flow and progress of work valuation (Preinitz, W.
2009, 19-32) (Construction tuts (2016). Besides, the surveyor must monitor the
construction costs; prepare invoices and documentation to suppliers and subcontractors,
and updates employer and client with contract statements. The surveyor pays the
subcontractors for effect the post contract cost control.

Quantity Survey (QS) 4
References
ICAEW. 2016. Certificate in Insolvency; Question Bank. London: BPP Learning Media.
Ogunlana, S. 2003. Profitable Partnering in Construction Procurement. Ed., New York,
N.Y: Routledge
Preinitz, W. 2009. A Fast Track to Structured Finance Modelling, Monitoring and Valuation.
New Jersey: Wiley.
Seleesy, I. 2016. Building Economics. 3rd ed., London: Macmillan.
Thomsett, M. 2001. Builders Guide to Accounting, Carlsbad, CA; Craftsman Book Company.
Towey, D. 2017. Construction Quantity Surveying: A Practical Guide for the Contractor’s
QS, West Sussex; Wiley Blackwell.