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Bill of Quantities: Detailed Cost Report
A Bill of Quantities provides a detailed breakdown of materials, parts, and labour required for a construction project. It serves as a guide, offering a clear picture of the project's scope and the associated costs.
A detailed cost report (or Bill of Quantities) is a valuable tool for the construction process, whether you’re undertaking a civil contract or a home renovation.
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What Is A Bill of Quantities Report in the Construction Industry?
A professionally drafted, accurate, and detailed BOQ report, also known as an Elemental Cost Report, provides you with a comprehensive list of every item involved in the construction project, including the following:
- All the materials
- Plant and equipment costs.
Unlike a cost estimate that merely provides a project schedule and estimates potential costs, a detailed BOQ report breaks down the project’s nominated specifications and is measured in far greater detail using measured quantities.
Having an accurately drafted BOQ report before construction begins ensures that the project can run smoothly and as close to budget as possible, effectively managing the project’s cash flow.
How Do We Prepare Your Bill of Quantities?
At Duo Tax, our Quantity Surveyors provide comprehensive cost reporting based on detailed measurements and pricing from the available project drawings and nominated project specifications.
We then prepare a list of materials, equipment, and labour requirements you’ll need to complete the project.
Through our detailed cost analysis and BOQ report, you can achieve several benefits, including the following:
- A clear understanding of the full extent of the work that needs to be completed and what it’s going to cost
- Assistance in undertaking payment evaluations
- Identification of when specific materials and equipment are needed at each stage of construction
- Managing the project’s cash flow with a lot more ease
- We also assess construction risk contingencies, tenders, and any other items relevant to that project.
Why Choose Duo Tax for Your Bill of Quantities Report?
A detailed cost report (or BOQ) is a valuable tool for the construction process, whether you’re undertaking a civil contract or a home renovation.
Because each BOQ document will vary depending on the type of project, you’ll need an expert construction cost estimator who has in-depth knowledge of the industry, such as a quantity surveyor, to help you navigate identifying accurate material and labour costs.
At Duo Tax, our expert estimators document every item involved in your construction project, providing an extremely useful tool in estimating a project’s price. In addition to providing a detailed cost report (or BOQ), we have a full system of cost estimating and cost planning.
As a team of Quantity Surveyors, we can also help the architect evaluate comparative costs for alternative systems of construction and finishes. We can also advise on the total cost implications and methods of construction.
Order Your Bill of Quantities Report Now
Our expert team of quantity surveyors is ready to assist you with detailed Bill of Quantities reports, offering a comprehensive breakdown of all project costs.
Whether you’re planning a commercial venture or a residential renovation, our tailored services are designed to meet your unique needs. Our commitment is to provide you with accurate, detailed, and reliable cost estimations to ensure the smooth execution of your construction project.
Reach out to us today to learn more about our services and how we can assist you with your construction project.
What is the difference between a Bill of Quantity and a Bill of Material?
While a Bill of Quantity contains a list of materials with a combined labour and materials rate or dollar value, a Bill of Materials is a list of each individual material item required in order to complete the whole project or process.
How are Bill of Quantities prepared?
A skilled quantity surveyor or experienced estimator uses specialised computer software to measure various aspects of the construction plans. Once these are measured, material and labour items can be compiled, usually into sequenced folders, that relate to the total bill or estimate.
What are the benefits of having a Bill of Quantities?
A Bill of Quantities provides:
- A clear understanding of the scope of work involved in the project
- Assists all parties with interim payment evaluations
- Clarifies which items need to be procured at specific phases of the project
- Allows for accurate estimations of all project costs
- Assists with cash flow for the project
How long does it take to prepare a Bill of Quantities?
The time it takes to prepare a Bill of Quantities can vary depending on the size and complexity of the project. For a small to medium-sized project, it can take anywhere from a few days to a couple of weeks. For larger projects, it may take several weeks or a few months.
At Duo Tax, we strive to provide accurate and detailed BOQ reports in the most efficient time frame possible.
Can a Bill of Quantities be revised?
Yes, a Bill of Quantities can be revised if there are changes in the project, scope, design or if new information becomes available that affects the project costs.
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