Commercial Management & Quantity Surveying
Critical Business Leadership
Commercial management and quantity surveying are two closely related fields within the construction and built environment industries.
Commercial management involves overseeing the financial and contractual aspects of construction projects. The primary goal is to ensure that the project is completed within budget and on time, while also meeting quality and legal standards. Key responsibilities of commercial managers include:
Cost Management: Managing project budgets, estimating costs, and monitoring expenditures throughout the project’s lifecycle.
Contract Management: Developing and managing contracts with clients, subcontractors, suppliers, and other stakeholders.
Risk Management: Identifying, assessing, and mitigating risks that could impact the project’s financial performance.
Procurement: Managing the procurement process, including sourcing materials and subcontractors, negotiating contracts, and ensuring value for money.
Claims Management: Handling claims and disputes related to contracts and project changes.
Financial Reporting: Providing financial reports, forecasts, and cost analysis to stakeholders.
Cash Flow Management: Managing cash flow to ensure that there are sufficient funds available to cover project expenses.
Commercial managers work closely with quantity surveyors to ensure accurate cost estimation and control.
Quantity surveyors, often referred to as QS’s, are professionals who specialise in managing the costs and quantities of materials and resources required for construction projects.
A Qs’s primary responsibilities involves;
Cost Estimation: Preparing detailed cost estimates for construction projects, taking into account materials, labor, equipment, and other expenses.
Quantity Takeoff: Quantifying the amount of materials and resources needed for each phase of a project.
Cost Control: Monitoring project costs, identifying cost overruns, and recommending cost-saving measures.
Tendering: Assisting in the tendering process by preparing bills of quantities and other tender documents.
Valuation: Valuing work done by contractors at various stages of the project for payment purposes.
Final Accounts: Preparing final accounts and settlements at the end of a project.
Risk Analysis: Analysing and managing risks related to project costs and budgets.
Contractual Advice: Providing contractual advice to ensure that contracts are properly administered.
Choosing a career journey or next career step can be a daunting experience. There are many fantastic organisations and websites that help support this decision-making process in selecting the learning and development options that are right for you. Once the study is over, then the process starts on getting that 1st work place opportunity that is right for you.
However, what very few talk about and promote is a career in the Built Environment.
For the past three decades, there could not be a better time to train for a career in the global built environment sector. It’s a sector that experiences constant technology driven change with materials, working practices all on a global footprint.
There remains a global shortage of science, technology, engineering, and mathematics (STEM) workers to meet the demands of a consistently growing built environment and construction market.
Adding to the employment opportunity complexity which includes hybrid working at a global level, we are seeing more and more sectors and markets competing in the hiring of skilled knowledge-based workers in and from the built environment sector. Much of this demand is enabled through a skill base adapting to the growing application of digitalisation (gaming tech), industrialisation (high tech manufacturing), sustainability leadership of the design, build and maintenance of buildings and assets of the built environment.
This landscape is creating many global opportunities for individuals as skills are increasingly transferable, significantly reducing the risk of the impact of recession and downturn on career trajectory.
As the built environment sector continues to evolve, in creating new roles and disciplines around social value, sustainability, visualisation, creative writing, there are increasing opportunities for social sciences, humanities and arts graduates need to join the sector.
The sector offers opportunity for continued professional development, global travel, and unrivalled career development and opportunity.
From LDNY’s experience, we see an industry that is diverse and one that constantly reinvents itself, with an increasingly interconnected global workforce of professional networks, a sector that rewards enthusiasm, hard work and innovation, and one that can have future positive influence on the worlds global net zero targets.
LDNY really do believe there is a role for everyone across the many industries and businesses operating across the built environment.
Buoyant industries today include clean energy including Nuclear New Build, Renewable Power Generation and Storage, Defence, Data and Digital Sectors, High Technology Manufacturing, Infrastructure which includes Rail, Roads, Bridges, Water, Fuel storage and distribution, New Cities including Hospitals & Schools, Housing as examples.
Sectors can include Manufacturing, Construction, Design, Mechanical & Electrical Engineering, Building Services Engineering, Architecture, R&D, Project Management, Stakeholder Management, Sustainability, Finance, Asset Management and Maintenance.
It’s a sector that has a need for both new entrants and experienced staff to develop skills and retrain for the new roles and specialisms as they develop in response to policy and regulation changes, and modernisation of working practices.
At LDNY we can help you manage your career development or your business resources. LDNY can find your first or next role to fill or place. We also love to help you manage your personal or career journey.
Joining our community will give you exclusive insights in to trends and opportunities and tools to effectively manage your career.
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