IRON TRIANGLE LIMITED (BACK BONE OFFICE) Quantity Surveyor Interview Questions and Answers

Rolling margin is a financial term that refers to the difference between the revenue generated and the variable costs incurred over a specific period of time.

• Rolling margin is used to measure the profitability of a business or project.

• It helps in assessing the efficiency of operations and identifying areas for cost reduction.

• The formula for calculating rolling margin is: (Revenue - Variable Costs) / Revenue * 100.

• For e...read more

If the site quantity differs from the drawing quantity, I will take the following steps to address the issue.

• I will review the drawings and specifications to ensure accuracy.

• I will communicate with the project team, including the architect and engineer, to clarify any discrepancies.

• I will conduct a site visit to physically verify the quantities and compare them with the drawings.

• If there are significant differences, I ...read more

Reconciliation of steel involves comparing the actual quantity of steel used in a construction project with the estimated quantity.

• Reconciliation of steel is a process used in construction projects to ensure that the actual quantity of steel used matches the estimated quantity.

• It involves comparing the quantity of steel recorded in the project's documentation, such as drawings and specifications, with the quantity of s...read more

BBS stands for Bar Bending Schedule, which is a detailed list of reinforcement bars in a concrete element.

• BBS is prepared based on the structural drawings and specifications.

• It includes the diameter, length, shape, and number of reinforcement bars required for the element.

• BBS helps in estimating the quantity of steel required and also ensures the correct placement of reinforcement bars.

• It is an essential document for t...read more

Rate analysis is done by breaking down the cost of each item in a construction project to determine the overall cost.

• Rate analysis involves breaking down the cost of each item in a construction project.

• The cost of materials, labor, and equipment is analyzed to determine the overall cost.

• Quantities of each item are measured and multiplied by their respective rates to calculate the cost.

• Rate analysis helps in estimating ...read more

Margin for OH & Profits in rate analysis is the additional amount added to cover overhead costs and generate profit.

• Margin for OH & Profits is added to the direct cost of a project to cover indirect costs and generate profit.

• It is usually expressed as a percentage of the direct cost.

• The margin for OH & Profits varies depending on the nature of the project and market conditions.

• For example, if the direct cost of a proje...read more

The wastage percentage for reinforcement steel varies depending on factors such as project complexity and workmanship.

• Wastage percentage for reinforcement steel is typically estimated between 2-5%.

• Factors such as project complexity, workmanship, and site conditions can affect the wastage percentage.

• Proper planning, accurate cutting, and careful handling can help minimize wastage.

• Examples of wastage include incorrect cu...read more

The code for structural steel is typically governed by the American Institute of Steel Construction (AISC) while reinforced steel is governed by the American Concrete Institute (ACI).

• Structural steel is commonly used in the construction of buildings, bridges, and other structures.

• The AISC provides standards and guidelines for the design, fabrication, and erection of structural steel.

• Reinforced steel, also known as reba...read more

Rate analysis is the process of determining the unit cost of a particular item or activity in a construction project.

• Identify the item or activity to be analyzed

• Determine the quantity of materials and labor required

• Calculate the cost of materials and labor

• Add overhead costs and profit margin

• Divide the total cost by the quantity to get the unit rate

• Compare the rate with market rates to ensure competitiveness

Components to be considered in Rate analysis

• Cost of materials

• Cost of labor

• Cost of equipment

• Overhead expenses

• Profit margin

• Taxes and duties

• Transportation costs

• Wastage and spoilage

• Contingencies

• Productivity rates

• Market rates

• Inflation rates

The documents required to certify the final bill as a Quantity Surveyor.

• Contract documents

• Measurement records

• Variation orders

• Payment certificates

• Final account statement

• As-built drawings

• Completion certificates

• Test reports

• Subcontractor invoices

• Material invoices