Advantages of a bill of quantities
A bill of quantities (sometimes referred to as 'BoQ' or 'BQ') is a document prepared by a cost consultant (often a quantity surveyor) that provides project-specific measured quantities of the items identified by drawings and specifications in the tender documentation for construction works.
A bill of quantities is issued to tenderers for them to prepare a price for carrying out the works. The bill of quantities assists tenderers in the calculation of construction costs for their tender, and, as it means all tendering contractors will be pricing the same quantities (rather than taking off quantities from the drawings and specifications themselves), it also provides a fair and accurate system for tendering.
At some stage in a project’s procurement process, regardless of the type of contract being used, the works will need to be quantified in order to obtain prices or to value the extent of the work and variations to issue payments. A good and accurate BoQ makes this process much easier and more transparent, and removes the reliance on guesswork. Before construction begins, the BoQ can inform the project budget and the modification of any elements of the design that may be prohibitively expensive. It can also help clarify quantities which means the correct materials can be procured in advance of the works starting.
A BoQ can provide a clear and extensive statement of the work that is to be completed, as well as a reliable base for budget control and accurate cost reporting. It enables the preparation of cash flow forecasts and provides a basis for the valuation of variations, the preparation of interim payments, and the final account.
For tenderers, it helps create a low-risk and low-cost tendering environment, which encourages the submission of competitive bids since the risk is better understood and defined.
[edit] Related articles on Designing Buildings
- Approximate bill of quantities.
- Bill.
- Bill of quantities.
- Bill of quantities breakdown structures.
- Bill of quantities software.
- CESMM4.
- Common mistakes in bill of quantities.
- Cost plans.
- Elemental bill of quantities.
- Firm bill of quantities.
- How to take off construction works.
- Measurement.
- Taking off.
- Tender.
- Types of bill of quantities.
Featured articles and news
Electrotechnical excellence, now open for entries.
Net zero electricity grids BSRIA guide NZG 5/2024
Outlining the changes needed to transition to net zero.
CIOB Global Student Challenge 2024
Universitas Indonesia wins for second year running.
New project and cultural district described in detail.
The nature of EPCs, crticism and inaccuracies.
History, issues and redesign.
From waste recycling to energy performance the hierchy.
An introduction to WERCS and WEEE responsibilities
Dealing with 2 million tonnes of waste equipment a year.
Global BACS Market: analytics and optimisation
A BSRIA glance at building automation and control systems.
What it is and how to use it.
Types of insulating plaster by binder and insulant.
Investors in People: CIOB achieves gold
Reflecting a commitment to employees and members.
Scratching beneath the surface; a guide to selection.
ECA 2024 Apprentice of the Year Award
Entries open for submission until May 31.
UK gov apprenticeship funding from April 2024
Brief summary the policy paper updated in March.
For the World Autism Awareness Month of April.