How to Become a Successful Quantity Surveyor
The construction and real estate industry are Australia’s prime income generators in the current economy. This is not only because the country is gifted with rich land, but also because it includes a great number of skilled and experienced professionals. Amongst many jobs in this industry, being a quantity surveyor is quite a prestigious position. Your innovative Lego skills and an A+ for high school calculus are not enough for this job. The requirements of this job are highly competitive since there is a great demand for these professionals in the industry. Listed below is some information about the job that you need to know.
Basic job description
The basic duty of a quantity surveyor is to manage all cost of a construction project. This includes every single expense from the initial calculations to final figures. The toughest part of the job is to reduce the cost of the project while enhancing value for money and achieving high standards of work without disobeying statutory building regulations. The surveyor can work on the site or in an office depending on the preference of the contractor. He/she must be involved with the project right from the beginning and should oversee the expenses throughout the entire building process.
You must not only be good with numbers, but should also have an extensive knowledge about the construction industry. This includes the operation methods, standard regulations and taxes. As a surveyor, your prime focus should lie on building taxes. For instance, preparing a tax depreciation schedule Brisbane will be one of your biggest responsibilities when working in the city. This schedule can affect the profitability of the investor to a great extent. Thus, you need to ensure that you make the highest claim for deduction by including all the components of the property. Moreover, you must also alter the depreciation schedule reports according to the rules of the Australian Taxation Office (ATO) since they change quite frequently. This is why it is highly important for a surveyor to update his/her knowledge about the industry on a regular basis.
The responsibilities of this job role can vary according to the nature of the project. However, there are certain duties that you will have to fulfil for any building project. This mainly includes the paperwork. You will have to prepare the contract documents for the project which should include the bills of quantities. The cost analysis for the repair and maintenance process is your responsibility too. You will have to perform feasibility studies, risk analysis, value management as well as cost control reports. Making these reports requires you to collect an immense amount of quantitative data. Thus, it is highly important to be accurate in your work.
The most required skill of a quantity surveyor is practical and logical thinking. You need to have a systematic approach when handling your duties. Your decisions has to be calculated and analysed instead of being spontaneous. When working in the construction industry, unexpected issues rise quite often – especially when it comes to the budget. You need to possess creative problem-solving skills to deal with such situations. Strong numeracy skills and competency in financial management are essential for this job too. It is highly important to be precise and clear in all the reports you prepare.
Apart from these skills and abilities, having good work experience and educational qualifications can also increase the chance of securing this job.