Quantity surveyors without borders - providing cost advice in a global construction market

Research output: Contribution to conferencePaperResearch

Abstract

Providing sound advice on construction costs across national boundaries requires special care. It is seldom sufficient to
look up a suitable cost/m2 rate in a price book and then apply the current exchange rate. There are three main issues
here: one relates to the reliability of the price data, another to differences in design in different places and the third to
the method used to bring costs in different currencies to a common base.
Different sources of cost data can suggest very different rates and money market exchange rates provide nothing more
than a snapshot of relative prices at one point in time. Using different base costs and fluctuating exchange rates can
produce very different results depending on the source of cost data and what is happening on global money markets.
In this presentation some of the problems associated with providing international construction cost advice are explored,
some pitfalls identified, and some suggestions put forward to increase understanding of the complexities of international cost comparisons.
Original languageEnglish
Pages30-35
Number of pages6
Publication statusPublished - 2015
EventHKIS and AIQS Joint Conference: How QS will succeed in tomorrow's world - Hong Kong , Hong Kong
Duration: 14 Nov 2015 → …

Conference

ConferenceHKIS and AIQS Joint Conference: How QS will succeed in tomorrow's world
CountryHong Kong
CityHong Kong
Period14/11/15 → …

Fingerprint

Costs
Exchange rates
Construction costs
Money market
Relative prices
Cost comparison
International construction
Currency

Cite this

Best, R. (2015). Quantity surveyors without borders - providing cost advice in a global construction market. 30-35. Paper presented at HKIS and AIQS Joint Conference: How QS will succeed in tomorrow's world , Hong Kong , Hong Kong.
Best, Rick. / Quantity surveyors without borders - providing cost advice in a global construction market. Paper presented at HKIS and AIQS Joint Conference: How QS will succeed in tomorrow's world , Hong Kong , Hong Kong.6 p.
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Best, R 2015, 'Quantity surveyors without borders - providing cost advice in a global construction market' Paper presented at HKIS and AIQS Joint Conference: How QS will succeed in tomorrow's world , Hong Kong , Hong Kong, 14/11/15, pp. 30-35.

Quantity surveyors without borders - providing cost advice in a global construction market. / Best, Rick.

2015. 30-35 Paper presented at HKIS and AIQS Joint Conference: How QS will succeed in tomorrow's world , Hong Kong , Hong Kong.

Research output: Contribution to conferencePaperResearch

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Best R. Quantity surveyors without borders - providing cost advice in a global construction market. 2015. Paper presented at HKIS and AIQS Joint Conference: How QS will succeed in tomorrow's world , Hong Kong , Hong Kong.