do you do price escalation

Question

Accepted Answer

Yes, I do price escalation.

Price escalation is the practice of adjusting the cost of a project or product to account for changes in market conditions, such as inflation or fluctuations in material prices.
As an Assistant Quantity Surveyor, I would be responsible for monitoring and managing the cost of a project, which includes considering price escalation factors.
I would analyze market trends, review contracts, and assess the impact of price fluctuations on the project's budget.
I would also work closely with suppliers and contractors to negotiate and manage any price adjustments.
For example, if the cost of steel increases due to market conditions, I would assess the impact on the project's budget and work with the relevant parties to find a solution.
Overall, my role would involve ensuring that price escalation is taken into account to maintain the financial viability of the project.

Top Shivalaya Construction Assistant Quantity Surveyor interview questions & answers