Cost Reimbursement Contract
A cost reimbursement contract is a type of contract in which the buyer agrees to pay the seller for all costs incurred in completing a project, plus a fee. This fee is usually a percentage of the total costs and is intended to cover the seller's overhead and profit. The seller bears the risk of cost overruns, but is also able to recover any costs that are less than the estimated amount. A cost plus contract is a type of contract in which the buyer agrees to pay the seller for
Make your business thrive
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5 Signs you hired a great contractor
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Contractor tips: 3 ways to stand out from the crowd
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What is PERT, "Project Evaluation and Review Technique".?
PERT stands for "Project Evaluation and Review Technique." It is a method used to analyze and manage projects that involves a series of interconnected activities or tasks. The goal of PERT is to identify the critical path of a project, which is the sequence of activities that must be completed in a specific order and within a certain time frame in order to meet the project's objectives. PERT can be used to create a schedule for the project, identify potential problems or bott
What is PERT : Project evaluation and review technique?
PERT stands for "Project Evaluation and Review Technique." It is a method used to analyze and manage projects that involves a series of interconnected activities or tasks. The goal of PERT is to identify the critical path of a project, which is the sequence of activities that must be completed in a specific order and within a certain time frame in order to meet the project's objectives. PERT can be used to create a schedule for the project, identify potential problems or bott
Modular Housing – from the Quantity Surveyor's perspective ?
Modular Housing – from the Quantity Surveyor's perspective. As a quantity surveyor, you would likely be involved in the cost estimation and cost management of modular housing projects. This could involve preparing detailed cost estimates at various stages of the project, negotiating and finalizing contracts with contractors and suppliers, monitoring costs during the construction phase to ensure that the project stays within budget, and preparing progress claims and variations
How to choose the right procurement method and construction contract?
There are many different procurement methods that can be used in construction projects, and the right method for your project will depend on a variety of factors, including the size and complexity of the project, the availability of funding, the level of risk involved, and the preferences of the owner. Some common procurement methods for construction projects include: Design-bid-build: This is the traditional procurement method, where the owner hires an architect or engineer
Competitive Tendering from a Contractor's Perspective
Competitive tendering, also known as competitive bidding, is a common practice in the construction industry that allows contractors to submit proposals for a project with the goal of being selected as the winning bidder. This process can be complex and time-consuming, but it is a crucial part of the construction industry as it allows contractors to win work and helps clients choose the best contractors for their projects. In this blog, we'll take a closer look at competitive
Understanding Bim from a Quantity Surveying Prospective
Building Information Modeling (BIM) is a digital representation of the physical and functional characteristics of a facility. It is a process of creating and managing data on a construction project throughout the design, construction, and operation phases of a building's lifecycle. BIM has gained popularity in the field of quantity surveying, as it helps quantity surveyors to accurately estimate the cost of a construction project and manage the cost throughout the project's l
