01/12/2016, 9)27 AME- Bulletin : The Certified Quantity Surveyor (CQS) designation

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Table of Contents- Certified Quantity Surveyor

- Why Financial InstitutionsRequire Independent QuantitySurveyor Reports

- AIQS Academy

- Global construction industryunites to enhance consistency

- Gearing up for Christmas?

- AIQS Financial Statements

- Upcoming AIQS Events

- AIQS Christmas Season

- Academy

Certified Quantity Surveyor

The Australian Institute of Quantity Surveyors isdelighted to announce the introduction of itsCertified Quantity Surveyor (CQS) designationavailable for application from 16 January 2017.

Application for Certified Quantity Surveyor (CQS)designation is available to existing Corporate Membersand new Member Grade applicants.

AIQS Members with Certified Quantity Surveyor (CQS)designation represent the highest level of expertisewithin the profession.

Please use this link for further information, includingeligibility criteria and application process.

Please feel free to contact us if you have any questions:contact@aiqs.com.au or 02 8234 4000.

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1 December 2016

Welcome to this edition of the fortnightly AIQS e-Bulletin

Please read on for the latest news, events and opportunities from the AIQS.

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Why Financial Institutions Require Independent Quantity Surveyor ReportsArticle by AIQS President Peter Clack as appeared on sourceable.net

All developers, and to some extent owner builders, that require finance for theirproposed developments come across the same conundrum: the finance institutionrequires an approved qualified quantity surveyor to carry out a ‘due diligence’ teston the costs associated with the project and the ‘parties’ involved in the delivery ofthe project.

This rule holds true whether these developments are high density multi-residential,retail, commercial or simply a single residential property.

Most finance institutions have similar requirements – an initial assessment reportand ongoing drawdown recommendations during the construction phase.

This poses a conundrum for the developer, as evident by the following facts:

the new developer generally only becomes aware of these requirements just prior to finance approvalthe new developer is completely unaware of the amount of detailed information required by the quantitysurveyor for preparation of the initial assessment reporteven though the quantity surveyor is preparing the reports for the financial institution, it is the developer whopays the quantity surveyor feesthe developer often has a perception that the quantity surveyor is going over ‘old ground’ and often views thewhole exercise as a waste of time and money.

It is important to note that the initial assessment report and drawdown reports exist to protect both the financialinstitution and the developer, though this is a concept that some developers struggle with.

Click here to read the full article

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AIQS Academy

Two NEW Academy topics have been released this week!94 Academy topics are now available, with 2 new topics just released. The topics on offer have been individuallyreviewed and assessed to the highest standard of what is expected by the AIQS in continuing professionaldevelopment.

For more information or to purchase a topic, click on the links below:

Reinforced concrete construction – Nile Kannangarage Don

Negligence – Maurice Falcetta

Click here for a full list of Academy topics currently available and to purchase topics.Click here for more information on the Academy.

Global construction industry unites to enhance consistencyLaunch of public consultation for ICMS, which seeks to improve consistency and reducerisk in the global construction industryAgainst a backdrop of growing investment demand, construction industry leaders have joined together to establish auniform approach to calculate costs for the world’s building and civil engineering projects.

The International Construction Measurement Standards (ICMS) Coalition, a group of over 40 professional bodiesestablished at the IMF in Washington D.C. in 2015, is calling for professionals to support the collaboration and helpembed common standards at the heart of construction investment.

Overall, close to $78 trillion is expected to be spent on infrastructure globally between 2014 and 2025.* Whileconstruction is a global industry, the way construction project costs are measured varies enormously, hamperingdecision making and creating barriers to investment.

To tackle this problem, the ICMS Coalition is leading the creation of a universal system for measuring the cost ofconstruction projects which will allow comparisons to be made on a like-for-like basis between countries.

AIQS chief executive officer Grant Warner said “This draft international standard presents huge opportunities for theglobal cost management profession. As a contributing organisation, the AIQS has worked hard to get the newstandard to this point and we now need to hear from Cost Consultants, Quantity Surveyors and Civil Engineersaround the world; to ensure we can enhance transparency, invest confidence and public trust in the constructionsector.”

“We are seeking input from professionals and all stakeholders in the built environment to help draft this landmarkstandard and establish international best practice.” Said Ken Creighton, Chair of the ICMS Coalition.

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Reply and have your say

All stakeholders in the construction and infrastructure sectors can comment on the draft. Reply with your commentsby emailing: contact@aiqs.com.au

Gearing up for Christmas? Enjoy this time of year even more by making full use of your AIQS MemberAdvantage Program. AIQS members have access to a wide variety of discountedbenefits that make life a little easier on the hip pocket. Be inspired by great giftideas and the savings you can make this holiday season:

Enjoy a range of discounted electronics, clothing and accessories,magazine subscriptions and IT products, all at the click of a button!Receive exclusive discounts on e-gift cards for Myer, Flight Centre, TheGood Guys, David Jones and other retailers. Gift vouchers available for all major Australian cinemas including tickets forGold Class, Lux, IMAX and even the candy bar. E-Voucher tickets are also available for most cinemas.Receive $30 off when you spend $129 or more at Australia’s leading online retailer of experiences and gifts,RedBalloon. Great deals on thousands of hotels and accommodation worldwide.

To learn more, visit AIQS Member Advantage website or call Member Advantage on 1300 853 352.

*The Member Advantage Program currently only provides benefits within Australia and is hence only available toAustralian-based Affiliate, Member and Fellow grade members.

AIQS Financial StatementsThe 2014-2015 and 2015-2016 financial statements are available online can can be viewed here

Upcoming Events

1 Dec 5:30 PM WA YQS & YBA: Annual Christmas Sundowner Register Now

5 Dec 6:30 PM DOHA Global Standards for the Quantity Surveying/Cost Engineering Professions Register Now

7 Dec 5 PM QLD QLD Chapter Christmas Cocktail Party Register Now

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Australian Institute of Quantity SurveyorsLevel 3, 70 Pitt StreetSydney, NSW 2000+61 2 8234 4000contact@aiqs.com.au

Keep an eye on the AIQS Events Calendar for more information regarding upcoming events in your region.

SAVE THE DATE

7 Dec: UAE 5th Steering Committee Meeting

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The Australian Institute of Quantity Surveyors Head Office (Australia) will shut down during the period 24 December2016 through to 9 January 2017. We wish you joyous times with your family and friends over the festive season. Happy holidays and a prosperous 2017!

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