As a Quantity Surveyor – Evaluate Assuming your client gave you – target of

₦2,500,000.00 to be apply on a project to construct one bedroom self-contain,

considering all parameters in the project as you deem fit.
As a Quantity Surveyor, my role is to provide a comprehensive evaluation of the
target budget of ₦2,500,000.00 for the construction of a one-bedroom self-
contained project. Considering various parameters, I will assess the feasibility of
the budget and provide recommendations to ensure the project's successful
completion. Here are the steps I would take:
1. Cost Estimation: I would begin by preparing a detailed cost estimate for the
project. This would involve analyzing the various elements of the construction,
including materials, labor, equipment, and overhead costs. By accurately
quantifying and pricing these components, I can determine the estimated cost of
the project.
2. Cost Analysis: Once the cost estimate is prepared, I would compare it with the
target budget of ₦2,500,000.00. This analysis would help identify any disparities
between the budget and estimated cost, allowing me to identify potential areas of
concern or areas where cost savings can be achieved.
3. Value Engineering: If the estimated cost exceeds the target budget, I would explore
value engineering options. This involves reviewing the design and construction
methods to identify alternative materials, techniques, or approaches that can
achieve the desired functionality at a lower cost. Value engineering can help
optimize the project's cost without compromising on quality or functionality.
4. Cost Management: Throughout the construction process, I would implement
effective cost management practices. This includes monitoring expenses, tracking
actual costs against the estimated budget, and ensuring that cost overruns are
minimized. Regular cost reports and updates would be provided to the client,
enabling them to make informed decisions and take necessary actions if required.
5. Procurement Strategy: To optimize the budget, I would recommend a suitable
procurement strategy. This involves selecting the most cost-effective methods for
procuring materials and services, such as obtaining competitive bids, negotiating
favorable contracts, and exploring potential discounts or bulk purchasing
opportunities.
6. Value for Money: As a Quantity Surveyor, I would ensure that the project achieves
value for money. This means maximizing the benefits and quality obtained from
the available budget. By carefully selecting materials, equipment, and construction
methods that offer the best balance of cost and performance, I can help the client
achieve their objectives within the given budget.
7. Contingency Planning: It is essential to include contingency allowances in the
budget to account for unforeseen circumstances or changes during construction. I
would recommend allocating a portion of the budget to address potential risks and
uncertainties that may arise, ensuring that the project remains financially stable
throughout its duration.
8. Regular Monitoring and Reporting: To keep the client informed, I would provide
regular progress reports on cost performance. This would include comparing the
actual costs incurred against the budgeted amounts, highlighting any significant
variations, and providing recommendations to address any deviations.