ABSTRACT
During the recent past the bill of quantities has been criticised in some circles as being outdated and unnecessary in the modern procurement environment. Nevertheless, the bill of quantities remains unsurpassed as a model on which to obtain bids in a format that allows ease of comparison between various contractors, transparency, an aid to the quantity surveyor in valuing variations, calculating stage payments and the preparation of the final account. The RICS professional statement: RICS property measurement incorporates International Property Measurement Standards (IPMS). The Gross external area (GEA) approach to measurement is recommended for building cost estimation for calculating building costs for residential property for insurance purposes; town planning applications and approvals; and rating and council tax bands. The Gross internal area (GIA) approach to measurement is recommended for building cost estimation; marketing and valuation of industrial buildings, warehouses, department stores; valuation of new homes; and property management – apportionment of services charges.
