What would be the key components considerations that influence the value of construction - A Summary
In this concluding part of the series on rate analysis, a quick summary that builds on the previous six videos of the series.
Table of contents
00:30 - Interdependence of Cost, Time and Quality
01:45 - Relationship between Risk and price
05:55 - Technology Assessment for price leadership
06:45 - Relative risk to employer and contractor in different contracts
09:30 - Case Study: Free issue and implication on the pricing of contracts
13:45 – Different stages in the life cycle of a project when pricing plays a role
20:00 –Role of Quantity Surveyor and skills required
25:15 – Parameters that impact the cost of items in a construction project
This session is an action-packed summary of the factors that influence the different rates. Remember that costs and prices are not the same.
Costing, Billing is inevitable in the life cycle of a project. Quantity take-offs can be automated. However, the interpretation of the same is still a long way from being automated. The vistas for the billing engineer is still open and is an area of study where there is a healthy future.
Price is a policy, but costs are actual values incurred in providing a service or supply of material.
Any engineer entering the profession of billing in a construction project or looking at making a career in the contracts department is going to find the series in this playlist, of which this video is the last will find it useful. At the end of this series, the viewer should be able to know how to estimate project costs, identify relevant factors for costing. There is nothing that compares to the value of learning under a good mentor in a healthy organization.
I will appreciate your thoughts and feedback on this series. In particular, If members who are actively practising can help in evaluating the quality of this series and offer their suggestions.
Connect With Me:
We are social
YouTube Channel: / jsptube
LinkedIn: / jspackiaraj
Facebook: / jspackiaraj