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Bill of Quantities – What is it and how can it help you?
A Bill of Quantities (BQ) is a comprehensive list of items, together with full descriptions and quantities that make up the works being delivered. These documents are valuable to both clients and contractors – for similar and diverse reasons.
When you engage Evolution5 to provide a Bill of Quantities service you are allocated a suitably experienced quantity surveyor who will handle your commission from start to finish.
Through our use of SMM7 or NRM2 and specialist software packages, we ensure that your Bill of Quantities is compliant with industry standards. In addition, you can choose the format in which you receive your Bill for the method of integration into your own business systems.
As a general rule, a robust Bill of Quantities saves time and money for both Client and Contractor.
When managing project finances, a comprehensive Bill of Quantities, prepared by Evolution5, will provide a strong basis for budgetary controls throughout the project delivery for all parties. It supports;
- Cashflow Forecasting
- Valuation of Variations
- Preparation of interim payments
In the right format, updating and monitoring of overall cost plans becomes a seamless activity. Where applicable to the individual project, fully costed BQs support grant claim applications. Finally they provide a great source of real time cost data which helps with benchmarking future projects.
If you are a Client click here for more information about how a BQ can help you turn your project aims into reality.
If you are a Contractor click here for more information about how our bespoke BQ service can support you.