PAQS Congress 2011 :

Cost management - demanding function emerging from adversity

The Pacific Association of Quantity Surveyors'(PAQS) Congress 2011 was held last week in Colombo with delegations from 23 countries participating. The Congress was organised by the Institute of Quantity Surveyors, Sri Lanka (IQSSL) on the theme was 'Cost Management in a World Emerging from Adversity'.

Deputy Minister of Finance Gitanjana Gunawardana said that the theme was important to Sri Lanka as the country is emerging from 30 years of adversity.

Resettlement of almost 300,000 persons in the conflict affected areas is nearing completion in the initial stage of the rehabilitation program.

Infrastructure development projects have begun to deliver essential services, facilitate economic development and improve living standards of the conflict affected, he said.

Overall economic development is taking place in the country with an over eight percent growth rate and with the expectation of $ 4,000 per capita income by 2015. Such growth points towards the enormity of management challenges inherent in sustaining the dynamism of the development within which also lay vast opportunities for involvement of QS professionals, Gunawardena said.

IQSSL can take pride in the critical role it has played in popularising the QS field and building professional capability. Their professionalism and dedication is well recognised and highly valued.

During this period the IQSL has also been actively partnering other international organisations of quantity surveyors as is evident by hosting this 15th congress of PAQS, he said.

A multitude of programs are being carried out at sub national level for delivery of social and infrastructure services to communities. Engineering work is underway across the country and to complete them on time the programs should be cost effective in formulation and well managed. Quantity Surveyors as practitioners of costing and management of construction, buildings and engineering work have a vast field for engagement in Sri Lanka.

In countries such as ours, where services of financial institutions are improving in accessibility to the less affluent sections of the population, the increasing need for preparation of cost estimates and their certification increases demand for trained QS technicians, Gunawardena said.

President, IQSSL Prof. Chitra Weddikkara said that hosting the 15th Congress of the PAQS in Sri Lanka is a honour and privilege to IQSSL and this is the first such event organised by IQSSL since its establishment 25 years ago.

This is an opportunity for Sri Lankan quantity surveyors to exchange and network with other fellow members of the PAQS. “It will enable us to share best practices around the Asia Pacific region and the successes and achievements of other fellow members.

Equally valuable is the fact that the Congress will enable us to get acquainted with quantity surveying institutes in the PAQS, enhancing cooperation and synergy between and among our institutes”, she said.

”The theme of the congress has emerged from the realities we find ourselves in today. The theme has evolved as a challenge to developing nations of the Asia Pacific region.

Therefore, we hope to deliberate on the theme based on the common issues and problems pivoted on the Sri Lankan experience.

It is of importance for us to identify solutions and develop a common goal and agenda for the future development of our profession,, she said.

The 15th PAQS Congress stressed that; right throughout history, mankind has been subjected to natural disasters, conflicts and economic crises. Natural disasters result from natural hazards like, cyclonic storms, tsunamis, floods, droughts, volcanic eruptions and earthquakes leading to financial, environmental and human losses.

Moreover, conflicts such as wars, revolutions and other struggles are intertwined with the economy and society and result in low growth including in the construction sector.

As efforts are underway to minimise the effects of natural hazards and conflicts, a phenomenon of more recent origin has arisen in the form of economic crises.

In the aftermath of the global financial crisis, re-thinking of new cost management models has become imperative; however the limited availability of project financing is a vital challenge, which demands effective cost planning and control.

Beyond these common themes of key challenges faced by the construction industry, there are many challenges specific to certain construction industries from which lessons can be learnt. Cost management is therefore a highly demanding function in the world emerging from adversity.

During the Congress IQSSL signed a reciprocity agreement with the New Zealand Institute of Quantity Surveyors and Department of Building Economics of the University of Moratuwa and was awarded the accreditation certificate of the PAQS.

(GW)