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Is Quantity Surveying and Cost Management underrated as a profession? If yes, then why?

Updated: Nov 6, 2021

The global Construction market is expected to reach $16.6 Trillion by 2025, yet only 30% of projects usually come within 10% of the budget, while the remainder often exceed their budgets by at least 50%.

Given the high stakes, you would imagine that Cost Management and Quantity Surveying would be left, right and center during the planning, design, procurement, and delivery stages; unfortunately, that’s not the case.

Part of the problem - in my opinion - is that Quantity Surveying and Cost Management is a fragmented profession, in a fragmented industry, where a lot of terms are used interchangeably:

i.e. Cost Estimator / Quantity Surveyor / Cost Manager / Cost Engineer / Cost Control Engineer / Cost Planner / Quantity Surveying Engineer, etc.

I’ve always been curious about the reason why that’s the case, so I decided to research all the global organizations which are involved in Quantity Surveying and Cost Management, and I was able to identify 62 organizations across the globe

Imagine having 62 organizations, with each one having its own standards, best practices, definitions, rules of conduct, etc.

Below is a list of the 62 organizations that I’ve been able to identify in my research. If I missed anyone, please let me know!

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