3 Advantages of the Bill of Quantities
The BOQ stands for the Bill of Quantities referring to the various work items used in construction projects, usually drawn up by the Quantity surveyor provided by the design team. It is a reflection of the work to be done from the drawings, specifications, and other documentation labeled with respect to the contractor’s work to produce an accurate and fair tender.
1) Its primary intention is to invite tenderers to calculate construction costs and to follow a fair and accurate tender. This is important because it ensures that competing contractors price items on the same items and overall reduces any misunderstandings, omissions, or addendums that are finally presented to the client.
2) The BOQ helps key players in the construction project make a comprehensive planning of the project. For example, contractors produce an estimated contract sum so that they can add margins to the final contract value the way they please. It also gives him flexibility during the procurement process and helps them provide a better service and bidding process to win over clients. It also helps engineers and suppliers involved in the project to quote for the work suitably, since it has a complete picture of the equipment and materials necessary to be installed or furnished.
3) A third advantage is that it saves time and cost of construction. If the materials are available on time according to the BOQ and they are compared to other tenderers, you can save the cost of construction by simply choosing the best rate. Also, knowing the work extent for each item means you can equip to handle them in advance.
BOQ cost planner
Though the Bill of Quantities eliminates the chances of misleading practices, it must be prepared correctly, otherwise, large errors may prevail. It also lengthens the documentation process. Sometimes tenderers may neglect specifications such as the workmanship, leading to underpricing and inaccurate BOQs.
Bill of Quantity item list and rates
Overall, the BOQ gives you a clear basis to have realistic and achievable budgets before you start a construction project. It gives you valuable information along with a host of other benefits for executing effective work.