Valuation In Construction Industry

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It will be a problem in the future if he is known to be untrustworthy or corrupt.
Aside from that, dishonesty of valuators during the evaluation of variation is also critical in the construction industry. The variation order must be submitted to the appropriate valuators for the evaluation to go smoothly and accurately. The valuators must have good conscious and ethics during the valuation process. Some irresponsible contractors may bribe them with money or goods to approve his request so the valuators must decline any bribery and do his work diligently.

Discussion
From the research we conducted through literature review from various academic articles, interview with the industry experts and case study from previous projects, we have learned
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In the perspective of both contractor and quantity surveyor, they agreed that a lot of variations occurred due to discrepancies between the design drawings and the contract document. The function of a construction drawing is to show the contractor what is to be built and the specification is to state the materials, installation techniques and quality standards. So, it is important for the construction drawings and the specifications in the contract document to be tally with each other. The complexity of a design also affects the project, according to the opinion of the contractor and various academic articles. If a contractor is unable to construct the building because it is too complex, it needs to be modified to accommodate the capability of the contractor. The changes will cause extra money as it involves buying new materials for the new…show more content…
Based on the point of view of a quantity surveyor, poorly conducted site investigation and materials shortage can affect changes of a project. Site investigation is critical as it impacts the decision to select a suitable design and structure for the proposed building. Failure can lead to a lot of problems in later stages. Materials are also important in construction, so proper management and planning must be conducted. According to the point of view of a contractor, unforeseen condition must also be taken into account as one of the factors of variation orders. This can be categorized as risk and uncertainties and it is unavoidable. One of the preventive measure is having risk register for the project as early as possible. This can be done by referring to previous projects and study the problems occurred. Problem identification, allocation and management of risk in the early stage can reduce the possibilities of complications in the later stages by having a strategy already developed for solving each of the identified risks in case they
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