PQSC Quantity Surveyor Registration key terms

A digital process that creates and manages coordinated information about a built asset across its lifecycle. Quantity surveyors use models to extract quantities, detect clashes, and support cost planning.

A document listing measured work items with descriptions and quantities, prepared from drawings and specifications. It provides a common basis for tendering and for valuing variations during construction.

The process of extracting quantities of work from drawings, schedules, and models. Accurate take-off underpins estimating, bills of quantities, and interim valuations.

A published set of rules governing how work is described and quantified, such as a national method of measurement. It promotes consistency and comparability between bills and valuations.

Costs for site establishment, supervision, temporary works, insurance, and other general obligations that are not part of permanent work. They are typically priced separately from measured work items.

A structured estimate allocating budget to building elements or work packages at a defined design stage. It is progressively refined and used to control design against the client's affordability target.

The breakdown of a project's cost by functional building elements, such as substructure, frame, and services. It enables benchmarking and comparison of projects on a like-for-like basis.

Comparing a project's cost, time, or performance metrics against reference data from comparable assets. Quantity surveyors use it to test the reasonableness of estimates and cost plans.

A sum reserved in an estimate or budget to cover identified risks and unknown items. It is released as risks pass or crystallise and is distinct from the contractor's own risk allowance.

Money included in a tender or estimate to cover the priced party's exposure to identified risks. It differs from client contingency, which sits in the project budget.

A bill of quantities in which the tenderer has entered rates and amounts against each item. Once accepted, its rates usually form the basis for valuing changes.

A change to the scope, quantity, quality, or timing of work instructed under the contract. Quantity surveyors value variations using contractual rules and bill rates where applicable.

A periodic assessment of the value of work executed and materials on site, used to certify progress payments. It reconciles measured work, variations, and adjustments such as retention.

A percentage withheld from each progress payment as security for defects and non-completion. Part is typically released on practical completion and the balance after the defects period.

A defined period after completion during which the contractor must remedy notified defects at its own cost. Its length and procedures are set by the contract.

The stage at which the works are complete enough for their intended use, subject to minor outstanding items. It usually triggers possession, retention release, and the defects period.

A pre-agreed sum payable by the contractor per period of delay beyond the contractual completion date. It must be a genuine estimate of the client's loss to be enforceable.

A structured review that seeks to achieve required function at lower whole-life cost without reducing quality. It is most effective early in design when change is cheapest.

The total cost of an asset over its life, including acquisition, operation, maintenance, and disposal. It supports decisions where capital cost and running cost trade off.

The technique of discounting future operating, maintenance, and replacement costs to present value for comparison of options. It is a component of whole-life cost assessment.

The rate used to convert future cash flows to present value in an appraisal. Its choice materially affects which option appears cheapest over the asset's life.

A projection of money received and spent over time, often shown as an S-curve for construction projects. It informs funding needs and interim payment expectations.

A monthly comparison of costs incurred against value certified on a project. It reveals margin erosion, unmeasured work, and errors in valuation or cost capture.

The amount stated in the contract as payable for the works, subject to adjustment under the contract. It changes through variations, instructions, and other mechanisms.

Contract provisions adjusting prices for changes in costs such as labour, materials, or statutory charges. They transfer defined cost risk from contractor to client.

An allowance in a bill for work or materials to be supplied by a nominated party, later adjusted to actual cost. It is distinct from a provisional sum for undefined work.

An allowance included for work that cannot be fully defined at tender stage. It may be spent in whole or part, and unused amounts are deducted from the contract sum.

A situation where a surveyor's personal, financial, or other interest could improperly influence professional judgement. It must be disclosed promptly and managed, often by withdrawal from the matter.

The state of being free from pressures or relationships that compromise objective professional judgement. It underpins impartial advice, certification, and dispute work.

Basing professional opinions and figures on evidence and sound method rather than preference or influence. It is tested when reporting costs or certifying sums that affect others' money.

The duty not to disclose client or project information obtained through professional work without authority or legal requirement. It survives the end of the engagement.

Legal and ethical obligations governing the collection, storage, use, and sharing of personal data. Surveyors handle such data in contracts, payroll, and project records.

An alert, questioning attitude towards information and representations, especially where incentives to misstate exist. It guides verification of quantities, valuations, and claimed costs.

The exposure to intentional misstatement or deception, such as inflated valuations or false invoices. Surveyors reduce it through verification, segregation of duties, and challenge.

Failure to exercise the reasonable skill and care expected of a competent professional in the circumstances. It requires a duty, a breach, and resulting loss.

The legal and ethical obligation to act with reasonable skill and care towards those who may foreseeably rely on one's work. It can exist beyond the immediate client.

Insurance covering claims arising from alleged errors, omissions, or negligence in professional services. It protects both the practitioner and the client's ability to recover loss.

Structured learning and reflection maintained throughout a career to keep knowledge and skills current. Registration bodies commonly require recorded hours or points each period.

Possessing the knowledge, skills, and experience needed to perform an assignment to the required standard. A surveyor should decline work outside their competence or obtain support.

Raising a concern about wrongdoing, danger, or malpractice, internally or to a regulator. Professional codes protect those who report in good faith from retaliation.

The wider welfare of society that may override a client's private instructions. Professional standards require surveyors to refuse involvement in unlawful or harmful conduct.

Offering, giving, requesting, or accepting an advantage to induce improper action. Anti-bribery duties apply to public and private sectors and to intermediaries acting for a firm.

Concealing the origin of proceeds of crime so they appear legitimate. Construction and property transactions are high-risk, so firms must identify clients and report suspicions.

Reasonable investigation and verification before entering an engagement or transaction. It includes checking client identity, project facts, and contractual terms.

A written offer setting out the scope of services, basis of charging, exclusions, assumptions, and terms. Clear definition prevents disputes about what was included.

The defined set of tasks and deliverables a surveyor will provide under an appointment. Ambiguity here is a common source of fee disputes and negligence claims.

The contractual conditions governing an appointment, including payment, liability, termination, and dispute resolution. They should be agreed in writing before work begins.