The bill of quantities (sometimes referred to as ‘BoQ‘ or ‘BQ‘) is a document prepared by the a quantity surveyor that provides project specific measured quantities of the items of work identified by the drawings and specifications in the building documentation.
The quantities may be measured in number, length, area, volume, weight or time. Preparing a bill of quantities requires that the design is complete and a specification has been prepared.
The bill of quantities is issued to home owner/ contractors or developers for them to prepare a price for carrying out the works. The bill of quantities assists home owner/ contractors or developers in the calculation of construction costs for their project, and, as it means all tendering contractors will be pricing the same quantities (rather than taking off quantities from the drawings and specifications themselves), it also provides a fair and accurate system for tendering.
The priced bill of quantities will also:
- Assist with the agreement of the contract sum with the successful tenderer.
- Provide a schedule of rates assisting with the valuation of variations.
- Provide a basis for the valuation of interim payments.
- Provide a basis for the preparation of the final account.
A BoQ can provide a clear and extensive statement of the work that is to be completed, as well as a reliable base for budget control and accurate cost reporting. It enables the preparation of cash flow forecasts and provides a basis for the valuation of variations, the preparation of interim payments, and the final account.