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bill of quantities If you are looking for a bill of quantities definition, is, basically, a document used in the construction industry bill of quantities to display an itemized list of materials, parts, and labor, with the cost of each of them. Typically, Construction is the domain that uses it often.
Usually prepared by the quantity surveyor or bill of quantities cost consultant, this document lists out the tasks and the quality and quantity of the same to understand the main contractor to carry out a project. It gives the contractor a better grasp on the quantity and quality required, helping them progress toward completing the task well.
When preparing quantities are measured in appropriate units like the number, length, area, volume, weight, or time. This bill can only be prepared after the design is finalized, and the specifications are ready.
A bill of quantities often referred to as a BOQ, is given to the bidders to provide them with an estimate of the costs involved. This document helps tenderers appropriately calculate the construction costs for their tender, and, as it means all tendering contractors will be pricing the same quantities, it also provides a fair and accurate system for tendering.
An approximate bill of quantities is typically estimated when the work needed or materials needed are not confirmed and speculative. Usually, the speculations are made when the design is nearly complete.
These kinds of bills are not concrete, but they give a rough idea of what the cost could be. These types of estimations do tend to see a lot of variation as the work progresses. They are typically meant for contractors looking for earlier bids.
These are often used during the design process to control costs as well. They may not be completely accurate, but they do give a good idea of what the costs involved will be.
To prepare a bill of quantity is quite a simple task if you have a little experience.
To start, create an excel sheet with the appropriate columns.
Then, list out the tasks that need to be accomplished.
Follow this with a categorization of the tasks as different contractors and subcontractors may be required for the same.