The maximum portion of tasks in a construction project is carried out by subcontractors. Most of the leading contractors in the modern construction industry are keen to use subcontractors than direct labours for their works. It allows them to minimise indirect overheads costs such as rental for labour camps, transports, insurance charges etc. Managing aContinue reading “3 – Subcontractors in construction industry”
Category Archives: QS
What is Life cycle costing
Life cycle costing-Explain with a simple example Whole life cycle costing (in construction) is the process of evaluating and estimating the total costs involved for building a project from the design stage to disposable stage. The building life cycle can divide into four key steps. Planing & Design stage Construction stage Operation stage (maintenance &Continue reading “What is Life cycle costing”
Construction cost calculation- Calculate unit price for Rate brake ups
Cost Estimation Construction cost calculation is not an easy task? Earlier estimators who worked in the industry estimated construction costs based on one assumptions. In those times subcontractng works are minimal. estimators estimates works only the company can carry out and complete a project with available resources( Labour, Material & plant). So at that time(earlierContinue reading “Construction cost calculation- Calculate unit price for Rate brake ups”
Construction risk assessment at tender stage
In construction, Risk assessments are a very important factor in each stage of a project. Before the construction at the tendering stage, the contractor should do a proper risk assessment. There are two kinds of risk in the construction process. First one is the risks which can quantify (quantifiable risks). And the other one, whichContinue reading “Construction risk assessment at tender stage”
Tendering process 1st step -decision to tender
The tendering process in construction-1st step Incorrect tendering and estimation process can lead a company into dangerous situations. Underestimation of a project can hurt owners and employees of the company at the construction stage. And overestimation can push the company out of the competition (tender rejections). Therefore any company should have a proper strategy orContinue reading “Tendering process 1st step -decision to tender”
6 most popular types of tendering methods in the construction industry
There are various types of tendering methods, to analyze, negotiate and award a project to a contractor. But We can only identify two types of contractual bindings in the construction industry. The first is a standing offer under a maintenance work for a specified period, and this contract type is rare compared to others. TheContinue reading “6 most popular types of tendering methods in the construction industry”
6 Steps of Value Engineering Methodology
Value engineering is also called value analysis in the construction industry, And it is the most crucial step in the value management process. The Hard definition of Value engineering is, “Value engineering is the process of optimizing or improving project or product to deliver its maximum functionality or capabilities without spending much cost and without damaging the qualityContinue reading “6 Steps of Value Engineering Methodology”
3 Corporate social responsibilities of a sustainable company
Why Corporate social responsibilities (CSR activities) are essential? Because the World population is highly growing and the resources are becoming scarce day by day. Peoples and organizations are more concerned to find a way of sustainable developments. 1972 Stockholm earth summit has set out broad goals against the pollution. And the 1992 Rio de JaneiroContinue reading “3 Corporate social responsibilities of a sustainable company”
What is Value management
What is this Value Management in the construction industry? Most of the people are misunderstood that value management is the method to reduce the cost of construction. As per the correct definition, value management is the systematical method used to develop a project to achieve its utmost benefits for the users and owners. To do it, theContinue reading “What is Value management”
What is Earned value management system (EVM)
Earned value management system (EVM) is a practice which project management professionals developed to evaluate performance & progress of a project. Implementation of this system in a project can provide several benefits. what are the advantages of the Earned value management system? An early indication of budget or time overrun More sensitive data for effectualContinue reading “What is Earned value management system (EVM)”