We know what we do, and we do what we say.
Quantity surveying and cost management is an integral part of a project’s risk management process and is essential to confidently stay within budget. Our team identifies areas of potential exposure and provides financial advice to minimise downstream costs without sacrificing project value.
Our team view every project as a partnership where we work with you to achieve objectives together. We are flexible, client-focused, and work with integrity.
ESTIMATING AND COST PLANNING
WT’s approach to estimating and cost planning techniques is driven by value engineering and management, prioritising the optimisation of the capital works budget rather than to solely minimise cost. Our methodology ensures we remain respectful of our client’s project aspirations around quality, whilst minimising aspects which might contribute to unnecessary costs, identifying opportunities for cost savings, and recommending alternatives to ensure the best possible value is provided within the agreed budget.
We prepare our cost estimates to meet the unique needs of each client, ensuring tailored solutions are provided.
Our estimates include comprehensive descriptions, precise measurement and rate build-up, and when necessary, they are benchmarked and referenced against other appropriate projects. WT has a rich project history across a broad range of sectors which supports cost benchmarking. Our cost estimation approach enables accuracy and reliability, providing high quality standards in our service delivery.
Our team ensure that cost estimates are accurate and are compliant with industry standards, regulations, and best practices within the New Zealand environment. Many of our team are RICS certified professionals and members and keep up to date with construction industry guidelines and legislation.
LIFE CYCLE COSTING, WHOLE OF LIFE COSTING AND COST IN USE
Through our quantity surveying and advisory team’s expertise in facilities management and life cycle analysis, WT have developed a specific understanding of the effective life, reactive maintenance, and cyclical replacement requirements of a broad range of buildings in varying locations, scale, and use.
Our analysis and recommendations result in an annuitised plan for funding. This service can be performed following conclusion of construction works but also as a desktop assessment to support contract management assessments or broader business case / investment planning.
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INFRASTRUCTURE COST ENGINEERING
WT's infrastructure team unites the skills of cost engineers and quantity surveyors and together provide practical cost estimating and planning services. WT specialises in offering cost engineering services which can be tailored to benefit both public and private sector clients to achieve optimal project outcomes.
We are flexible, client-focused, and work with integrity.
Our input is beneficial from project initiation and the earliest conversations of your project as we support you to mitigate significant cost overruns and cost variations. Our detailed understanding of costs for civil and infrastructure works, coupled with reliable cost estimating and post contract services, provide important information when assessing project feasibility.
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VALUE MANAGEMENT
Drawing on our RICS-accredited methodologies and extensive experience, our quantity surveying team excel in optimising construction projects for maximum value. Our team balance cost planning, quality enhancement, and stakeholder engagement to navigate project challenges and achieve objectives together as your quantity surveying partner.
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SCHEDULES OF QUANTITIES (SOQ)
Schedules of Quantities (SOQ), which are referred to as a Schedule of Prices in some construction contracts, are crafted in a building trades format, unlike cost estimates, which are based on building elements. In overseas markets, the SOQ is often called a Bill of Quantities or BOQ.
This trade-specific format provides our clients with a document to aid in the procurement process such that Main Contractors have one document to issue to Sub-contractors and Suppliers in outlining their scope of work. Consequently, our clients are supported to develop a scope of work that is fully understood and more accurately quoted for by competing sub-contractors.
WT’s quantity surveying team are highly experienced in producing Schedules of Quantities and are acknowledged in New Zealand as an industry leader for delivering comprehensive and professionally measured quantities. This expertise supports tenderers in scoping the works, enabling the acquisition of realistic and comprehensive bids.
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CONSTRUCTION COST MANAGEMENT
Effective construction cost management is critical to ensure schedule and budget targets are met and the project’s objectives are achieved. Surprisingly, a global study on over 3,000 megaprojects showed less than 3% were running on time and within budget. Our team help you to plan and track costs whilst simultaneously monitoring risk on your construction project, throughout the entire project life cycle.
Construction cost management is about controlling and reporting on construction costs and includes:
▪ Preparation of monthly Payment Recommendations to allow the contract administrator to certify Payment Claims made by contractors
▪ Assessment and agreement of Variations, either proposed or claimed by the contractor
▪ Monthly financial reporting and budget monitoring, including work in progress, cost to complete, and contingency management and forecasting
▪ Cashflow forecasting and monitoring
▪ Provisional sum assessments, monitoring and verification.
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INSURANCE
Whether insuring a newly constructed building or an existing property, it is important for clients to ensure that their building/project’s insurance policy includes an appropriate value for replacement. Typically, policies consider a range of scenarios including damage and partial replacement and total loss situation.
Our service provides a concise report with detailed cost analysis and recommendations for insurable value.
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FINANCIER'S CERTIFICATION AND REPORTING
For projects which require bank funding, from development projects through to Public Private Partnerships (PPP), WT can provide reporting required by the lenders. This includes Precondition or Initial Reports prior to the first drawdown and then monthly cost to complete reporting to allow drawdowns to be made against a debt facility to the developer or PPP Special Purpose Vehicle (SPV). As well as following the lender’s reporting requirements, WT has a strong reputation for providing strategic commercial advice to our clients ensuring that early adjustments can be made to budget or scope to ensure projects are completed to align with cost, time and quality expectations.
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