1.

5 Services Quantity Surveying

Quantity Surveyor is known as a Construction Economist, or Cost Manager which is

one of a team of professional advisers to the construction industry. They estimate construction
costs from the beginning stage of a project through to the completion of the construction period.
This is measured from architectural drawings, to be used by contractors for tendering. At
feasibility stage quantity surveyors use their knowledge of construction methods and costs to
advise the owner on the most economical way of achieving their requirements. (Designing
building, 2012)
Quantity surveyors may use techniques such as Cost Planning, Cost Estimating, Cost
Analysis and Value Management to obtain a project budget. In construction industry, a cost
plan is used as a way of controlling estimated costs during the design and construction period
of a project. That means that cost plan is living artefacts, just like project management plans.
A cost estimate is the estimated cost of a project. The cost estimate is the important process in
construction process because it give an approximation cost to clients so that they know how
much it cost. Cost analysis is a critical process in construction projects. Cost analysis is far
more important as effectiveness of cost analysis in the contract will determine not only the
budget of the project but also the profitability for an organization. Value Management is a
structured framework that facilitates effective decision making the Best Value (aiqs, 2014)

Market Structure: Pure competition

Justification: Pure competition is a term that describes a market that has a broad range of
competitors who are selling the same products. Quantity surveying (QS) firm in Malaysia is
more than 100 firm in Malaysia. The pricing for the Quantity Surveying firm to give services
in the local market is standardised and follow market price. New companies can easily enter
the market. Example for the Quantity Surveying firm is Unitech QS Consultancy Sdn. Bhd. It
is a big company in Malaysia. The project they had done is Sp Setia- Qbee in Penang, Auto
World in Penang and others. Next is Kuantibina Sdn. Bhd. they has provide consultancy
services since 1981. The project they had done is 1st avenue in Pinang, Giant hypermarket in
Pinang. Next is Northcroft Sdn. Bhd. It is an international QS firm in Malaysia. The project
they had done is MPAJ in Taman Muda, Polis station in Ampang.(framegroup, 2013)
Reference:
1. http://www.aiqs.com.au
2. http://study.com
3. www.framegroup.com.au
4. https://www.linkedin.com
5. https://www.designingbuildings.co.uk