The Quantity Survey Method is a method of estimating the cost of a structure.
Steps is estimating cost by the quantity survey method
|•||Estimate the cost of erecting or installing all component parts of the building|
|•||Add indirect costs|
|•||Add Entrepreneurial profit|
The quantity survey method is the most time consuming and most accurate because the actual cost of the materials and the labor to erect or install them are calculated separately. Builders, contractors, architects, etc. use the quantity survey method but appraisers rarely do.
There are a number of computer programs available that make the quantity survey method easier than it was before computers were in common use. A pencil, calculator, and blueprint were the primary tools for estimating cost.