Why Taiwan needs to develop the quantity surveying profession to remain competitive

Could nurturing a burgeoning quantity surveying profession in Taiwan be the answer to resolving recognized problems in construction cost management?

In many regions across Asia pacific, quantity surveyors and cost managers are an intrinsic part of successful construction projects but not so in Taiwan. Responsibility for this integral piece of the construction ecosystem is largely fragmented with segregated responsibilities resulting in a lack of clear accountability for cost management and cost control.

In many developed nations, including China, United States and Australia, quantity surveyors have become critical members of construction teams, forecasting and controlling costs within projects, using a variety of procedures and technical tools. More recently, their roles have evolved to become strategic advisers, whole-of-lifecycle analysts, risk assessors, contract experts and client agents . Quantity surveyors are renowned for their comprehensive skill set, encompassing cost estimation, procurement, contract management, payment valuations, change order assessment, (among others) ensuring a streamlined project management process.

In Taiwan, these responsibilities are separated, leading to a more segregated and disjointed approach to cost management. Given the proven competitive advantage that quantity surveyors have brought to global projects across multiple sectors, the fact that Taiwan is lagging behind is an anomaly and a challenge that needs to be addressed, in order for the country to maximize the potential to attract foreign construction investment.

With increased globalization, global clients demand more stringent budgetary controls and greater cost transparency – in other words, the core skill sets of a quantity surveyor. In order for Taiwan to effectively compete for Foreign Direct Investment (FDI), the country needs to accelerate establishment of a quantity surveying profession with recognized standards and processes.

A key area to address is the current skills gap and talent pipeline in Taiwan. Taiwanese universities do not currently offer quantity surveying as a degree option, with these core skills being covered to some extent on broader degrees in construction and civil engineering. Until universities recognise this emerging opportunity, the gap will continue to be filled by international consultancies or pioneering individual students who leave their countries to gain the requisite qualifications and skills abroad.

Countries with mature quantity surveying education sectors will continue to reap the benefits, with some education institutions seeing huge increases in students seeking to study quantity surveying. In New Zealand, for example, Wellington Institute of Technology had an 80% increase in students studying quantity surveying after the Christchurch Earthquake raised awareness of the profession’s skilled work.

Meanwhile, projects in countries where the profession is well-established will continue to see the benefits of engaging quantity surveyors to effectively manage project costs. Evidence is plentiful on how effective cost control management can contribute to return on investment across multiple sectors including commercial, data centres, and large infrastructure projects.

Given the continued reports of significant budget overruns during construction in Taiwan, the crucial role of quantity surveyors in managing costs and ensuring financial accountability has become increasingly important. There is enormous scope for quantity surveyors to use their big-data analytical skillsets, risk impact assessments, understanding of market conditions and experience with contracts to improve project performance and reign-in spiralling costs.

Linesight has recently become the first quantity surveying consultancy operating in Taiwan to gain RICS-regulated status. This designation means that we are recognised by the international professional body for practicing quantity surveying to globally recognised standards.

For more information about Linesight’s operations in Taiwan, you can contact our team in Taichung.