Commercial Management and Quantity Surveying

Commercial management and quantity surveying are to create new opportunities in the business industry; the concept defines progress and development in the business. Commercial Management and Quantity Surveying construction usually mean to lead the construction business to success through managing, overseeing and analysing the aspects of a project. Quantity surveying refers to the role fulfilled by a quantity surveyor to assess, monitor and value the construction costs and contracts in the business. Commercial management and quantity surveying are terms used in together most commonly.

The developing career process the profession shares in the construction industry has caused a connection. So a trainee quantity surveyor can progress in his career by approaching to study commercial management courses. The rank of a trainee quantity surveyor can be the step to rise higher in the construction hierarchy and becoming a commercial manager. By possessing the skills and more knowledge in commercial management and quantity surveying in construction, the quantity surveyor can be promoted to be a manager in the construction site. But how can a manager develop a career from one profession to another in the construction industry? To understand the progress, let us take a look at each role in the industry.

The role of a trainee quantity surveyor is

• Ensuring the financial status of the construction project is maintained efficiently.
• Advising potential sites for the project and estimating the affordability of it.
• Cost(valuation) means providing information for the costs of elements for the projects.
• Organising sub-contractors for the projects and finding the best ones to work in the project.
• Cost management- to stick to the budget of the project
• Handling construction payroll management and accounts are reported and finalised.
• To give financial advice regarding project progress and monitoring conduction.

A quantity surveyor in the construction industry is required to fulfil specific requirements.  A Diploma course or a BSc in the field with at least a few years of experience will be needed. The route to higher grounds after qualifying is more comprehensive and even better for career growth. The quantity surveyor can proceed in becoming a chartered member (MRICS) by going through the APC (Assessment of professional’s competence) training. Or possess a BSC Degree in Commercial Management and Quantity Surveying to become a commercial manager, rather than only focusing on a specific degree or qualification when it comes to hiring a commercial manager. The industry looks for the knowledge, eligibility, and experience of a quantity surveyor concentrate on developing into achieving the role of a commercial manager in the industry.

Becoming commercial management and quantity surveying professionals 

To take a step forward in career development, and to becoming a commercial management manager. The quantity surveyor should also understand the responsibilities of a managerial role. A commercial manager’s responsibilities are higher than a trainee quantity surveyor in the construction industry. The skills and qualifications that are possessed to become a quantity surveyor will undoubtedly reflect on the progress of becoming a manager. Along with the skills, it is necessary to understand and acquire knowledge on how to achieve a professional role in commercial management and quantity surveying.

Keeping in mind the following requirements for the commercial management job description, here are a few steps to progress.

Education Qualification related to Commercial Management and Quantity Surveying

In the construction industry, commercial managers are commonly members of the ICE (Institute of Civil Engineers) or RICS. With experience, they become professionals. Education qualifications to become a professional commercial management manager through steps are easy to understand. As the profession quantity surveying and commercial management are used together commonly in the industry. Starting with a quantity surveyor course to proceed to become a chartered quantity surveyor will add to the experience and knowledge of becoming a manager. For example, qualifications by recognised institutes such as the Royal Institution of Chartered Surveyors are widely recognisable in the industry. The professionalism comes along with the skills, and many construction companies and firms are looking for those requirements.

The courses are distributed to be accessible through many online colleges. In the United Kingdom, the College of Contract Management offers MRICS opportunities through their online courses of APC coaching services. But there are other commercial management courses proven to add value to an individual’s career progress. Many construction students have faced the benefits of studying through online courses to complete their assessments through CPD hours and work in the construction field, applying the knowledge.

Training and experience

Knowledge and qualifications are not the only factors the construction industry is looking for in a professional commercial manager. The skills to apply it to the field and to manage the tasks are also essential to be qualified as a professional manager. The construction industry places a requirement of professional qualification along with 10-15 years of experience to be a manager in the field. Gaining this experience will seem to be hard when starting as a graduate quantity surveyor. As a result of pursuing the quantity surveying courses and filling the training in the field, it will also add the years of experience to individual skills. A trainee quantity surveyor can progress by developing the skills of becoming a surveyor. Then train another trainee or graduate, and this will add experience in managing a member in the team and qualify to become a manager in the future.

Acquiring other skills

The industry looks for an overall professional who can manage the construction team with efficiency. The fundamental role of a Commercial manager is handling management most professionally. When progressing through a career in becoming a commercial manager, it is also essential to make sure that these requirements are improving along the way.

• Strong leadership

A manager can lead a team when he possesses the knowledge of great leadership and management skills. Proper management is a reflection of great leaders. And the construction industry looks at such qualities while hiring managers.

• Confidence

Self-confidence to lead is another quality a manager should possess. In the construction field, the commercial managers and quantity surveyors deal with a lot of departments and people in the process of conducting a project. To ensure effective management, displaying confidence in the work field is essential.

• Strong social and communication skills

The importance of communication and social skills are emphasised in all industries to result in efficient outcomes in a project. And a manager possessing strong social and communication skills will be able to manage the construction team professionally.

The importance of commercial management and quantity surveying skills in construction

Commercial managers in the construction industry cover various departments:

• Accounting
• Financial
• Budget, planning, and monitoring
• Estimating, tendering and procurement
• Cash flow
• Contract administration, clearing disputes, claims and negotiations
• Valuations
• Risk management
• Supply chain management
• Business development

Managing the internal process and dealing with the external process is a responsibility a commercial manager should handle in a construction project; managers try to deliver projects on the given timeline with quality. Construction companies growing in the economy are looking for perfection when construction is progressing. But without a commercial manager in the field, the efficiency, the productivity and the deliverance of the project will be ineffective, causing a loss for the company. As crucial as the contractors and engineers needful to build a project, the commercial manager is required to lead the project without any difficulties.

How Labour skill shortage in construction affect the industry

Every industry looks for skilled, professional and enthusiastic people to work in their company. Meanwhile, this demand of requirements has created many opportunities in education and career paths for many individuals. People are striving for more recognition in the industry and return; the sector is providing it for them.

During the late 2000s and the early 2010s in the period of the great economic recession, the downturn has severely affected the construction industry resulting in losing a large number of skilled labour. The effect of the economy facing a decline still exists throughout the years in the construction industry. Therefore, forcing the construction companies in the industry to take steps, increasing higher pay for skilled professionals to join the construction projects and hiring unskilled labour because of a labour shortage. However, studies show that 80% of construction companies are struggling to hire professionals for projects; this struggle has lasted through 2019 and yet remains in the industry.

The shortage of labour in the industry is due to specific reasons such as:

• Lack of interest in the field
• Less experienced graduates joining the construction industry because of not many skilled workers
• Existing workforce stretching retirement age, causing a lack of opportunity to new professionals in the industry.

These reasons have also affected the industry in the wrong way, causing delays in projects and difficulty to maintain management without professionals. As a result, to eliminate the problems in the industry, they have opted to use other means of motivation to encourage professionals and students to join the industry.

Opportunities through the skilled labour shortage in the construction

The situation in the industry has created a demand for professionals to work in projects and improve industry efficiency. Because of the order, companies are providing higher salaries for professionals to work in a construction project. The need for commercial managers, Quantity surveyors, project managers, contractors, architects, and other construction workers are high. It has created an opportunity for a higher salary, and also the less competitive career development in the industry is motivating graduates looking for new development in growth. As the economy is developing,  the construction industry will also be contributing many demanding projects to the economy through infrastructure, buildings, and structures. The more plans, the more opportunities for professionals who start a career in the construction industry.

Opportunities to study through online courses

The education industry is moving forward with the qualifications which are benefiting the other sectors in the industry; therefore, setting standards for professionally skilled employees. There is no limitation in accessing education in today’s world.  But with the support of technology and the demand for education, the industry is providing online courses in a global range, helping students to achieve a successful future. Students or even professionals can find many courses.  online courses to experience, train and acquire skills demanded by the industry. The advancement has made it easier for the construction industries all around the world to assess and select professionals from the lot. But the leading institutes in the construction industries are also reaching out to students and professionals through online facilities. The online facilities have encouraged many students and professionals to pursue the training and qualifications to enter the industry.

The future of construction

The opportunities flourishing through developments and support is helping the construction industry.  The construction industry is making a statement in the world through unique structures, quality infrastructures, famous buildings. Assumptions of the construction with the help of technology developments in the future will be a magnificent sight. Also, walking through the path of career and education in the construction industry will prove to be beneficial in future times. Economic growth is resulting in the demand for construction projects. In conclusion, settling a good share of the next experience for anyone leading the path to become a professional in the industry.