The construction industry has been encountering considerable uncertainty due to the economic downturn and the growing complexity resulting from demand-side pressures, especially the calls to address decarbonisation urgently. To confront these challenges, industry professionals are exploring new methods of working, and the role of quantity surveyors and cost managers has become even more critical. These professionals are responsible for ensuring the agreed financial outcomes of a project through tasks such as cost planning, commercial management, and project control. They are also expected to extend their role beyond traditional functions and engage in activities such as measuring social value, implementing environmental, social and governance principles, adopting whole-life and whole-asset thinking, and calculating carbon footprints across various projects and assets.
In this context, the significance of data and technology in quantity surveying and cost management practices cannot be overstated. Quantity surveyors must incorporate data and technology into a model-centric and data-driven process to remain competitive and deliver value to their clients. These processes provide the opportunity to make informed decisions, reduce costs, enhance efficiency, promote sustainability, and ultimately deliver better value to clients and other stakeholders. Therefore, quantity surveyors and cost managers must leverage data and technology to integrate into their core processes. However, the potential of data is not being fully realised, as many quantity surveyors and cost managers are still reluctant to integrate into upstream digital workflows.
Glodon, in collaboration with RICS, conducted a comprehensive study that included global surveys, focus groups, and individual interviews to address this issue. The study aimed to understand better the current attitudes towards data and technology usage in quantity surveying and cost management practice.
We believe this paper is essential to understanding why data and technology are a vital part of the toolkit for quantity surveyors and cost managers. It provides valuable insights and recommendations on how quantity surveyors and cost managers can leverage data and technology to remain competitive, provide value to their clients, and expand their role beyond traditional functions. The paper also presents recommendations for the profession that spans from an emphasis on information management to the role of digital skills and competencies.
“In today’s construction sector, we cannot overstate the significance of data and technology in quantity surveying and cost management practices to remain in sync with upstream digital workflows on projects and programmes.”
Vice President, Glodon
“As upstream processes shift towards model-centric and data-driven workflows, we must develop a playbook documenting the ‘level of information need’ and information deliveries for enhancing digital work processes and practices of quantity surveyors and cost managers.”
Anil Sawhney FRICS
Head of Construction, Knowledge and Practice, RICS
“As we continue to navigate the rapidly changing world around us, it is paramount that quantity surveyors and cost management professionals keep pace with the digital and AI revolution. By embracing data and technology, these professionals can unlock their true potential and play a significant role in shaping the future of their industry.”
Senior Director at Gleeds | Global Head of Data, Insights & Analytics | Data IQ 100 2023 | BSc (Hons), FRICS, RITTECH, AMBCS, Chair of Project Data Analytics Taskforce
Download the report – Data and tech in QS and CM (PDF 7.65MB).
For more information on Quantity Surveyors Data and Technology contact Amethyst Surveys.
The original version of this article was published in www.rics.org