Measuring % work progress and construction interim valuation

Name: Measuring % work progress and construction interim valuation
Rating: 4.2 (5 reviews)

Quantity Surveying

Created byArimoro Ayodele

Last updated 7/2022

English

What you'll learn

Measuring % work progress of building contractors
Identifying components of an interim valuation
Preparing construction interim valuations
Discounts and Adjustments to contract sum

Course content

3 sections • 8 lectures • 1h 29m total length

Introduction2:39
Learn to measure percent work progress with a bill of quantities, value works by contractors and subs, and determine monthly payments, noting overpayments may be unrecoverable if work stops.
Introduction to the course4:11
Compare four progress measurement methods in construction: quantity-based units completed, hours spent vs planned, milestone-based ratings, and contract value as actual cost over estimates for interim valuation.

Calculating month one % work progress23:55
Calculate month one percentage work progress from a bill of quantities by deriving cost to date over the forecast costs, applying provisional sums, and updating substructure and element completion.
calculate % work progress for month two
Interim valuation; getting started13:05
Define interim valuation concepts and construct the main building and preliminaries spreadsheets. Apply progress percentages, contingencies, value-added tax, and discounts to determine discounted amounts and advance payment recovery.
Understanding gross valuation6:00
Measure percent work progress and prepare interim valuations by isolating the current month's value from prior valuations. Use cumulative value as a baseline to determine value and correct valuation errors.

Interim valuation one20:52
Learn the elements of interim valuation in construction, including gross valuation, adjustments, materials on site, subcontractors, retention, and advances, with a focus on percent work progress and first-month on-site work.
Interim valuation two14:03
Learn how to calculate interim valuations by measuring percentage progress, value works carried out, adjust for preliminaries and previous cumulative valuation, and apply foolproof spreadsheet methods to recover advance payments.
Bonus lecture4:55
Explore how to design and install perforated foam board cladding for external walls, using 2D/3D designs, laser cutting, and a guided on-site assembly for proper alignment and bonding.

Requirements

Students require laptop or desktop computer
Students need to have basic knowledge in construction

Description

A quantity surveying course that focuses on interim valuation and measuring work progress using Bill of Quanties.This course is practical and hands on. Quite easy to follow and understand, even by people who are new to construction and construction costs and estimating.

The course will show you step by step, how you can ascertain what amount is to be paid to a contactor for building services. Two interim valuations were prepared in this course and assignments were given to help students practice some of the things learnt. The basis of preparing this valuations was also explained. Terminologies used by construction cost professionals were also explained in an easy to understand manner. Technical terms pertaining to interim valuation like full retention, half retention and limit of retention will also be well explained. Other topics that will be added include methods of valuing preliminaries.

The course explains the components of an interim valuation and a step by step guide on how to prepare an interim valuation

There will also be a bonus lecture or video with a young but experienced construction project manager who will share tips and advice for those for those wishing to be project managers and project managers who are just starting out.

Who this course is for:

Professionals in construction industry like Engineers, Quantity Surveyors and Architects
University Students aspiring to become professionals in construction industry
Inquisitive clients desirous of a birds eye view on their projets

Measuring % work progress and construction interim valuation

What you'll learn

Explore related topics

Course content

Introduction2 lectures • 7min

Measuring work progress using Bill of Quantities3 lectures • 43min

Preparing an interim valuation3 lectures • 40min

Requirements

Description

Who this course is for: