Growing Demand for Quantity Surveyors with an MBA: What You Need to Know

Written by RICS SBE | Oct 17, 2024 6:04:10 AM

The role of quantity surveyors has expanded beyond the traditional scope of cost estimation and contract administration. As the construction industry evolves globally, these professionals are now required to navigate increasingly dynamic and complex projects. This evolution has led to a growing demand for quantity surveyors who not only excel in traditional tasks such as estimating costs, managing budgets, handling legal contracts, and conducting site visits but also possess advanced business skills.

Specialised MBA courses like an MBA in Construction Economics and Quantity Surveying enhance their capability by providing strategic insights into financial management, risk assessment, leadership, and all the fundamentals of being a competent quantity surveyor. This enables them to manage multifaceted projects more effectively and contribute to high-level decision-making processes.

Integrating MBA-level training with industry expertise ensures that quantity surveyors are well-equipped to address the complexities of modern construction projects and drive successful outcomes.

This blog outlines some crucial things you need to know about quantity surveying to build a career.

Things You Need to Know About Quantity Surveying

For individuals who possess analytical skills, are detail-oriented and have a keen interest in the construction industry, quantity surveying can be a fruitful career choice, especially if they graduate with a specialised MBA degree. From tender and contract analysis and reporting to collaborating with stakeholders, including architects, engineers, and contractors, their skills and knowledge knit the whole project together. Following are the things that will convince you of the growing demand and increasing career profitability of quantity surveyors:

Domain-centric knowledge with a Specialised MBA

A specialised and dedicated MBA programme equips graduates with the most sought-after skills in the modern BIM-dominated construction industry. Dedicated programmes like an MBA in Construction Economics and Quantity Surveying provide domain knowledge of the construction management industry. Quantity surveyors are significant in cost and budget estimation, pre- and post-construction management, data analytics, and value-added project activities. Pursuing a specialised MBA includes case studies, simulations, and practical exercises to apply theoretical knowledge to real-world scenarios.

The programme encompasses technology and sustainability-focused skills, such as Augmented Reality (AR) and Virtual Reality (VR), drone mapping, remote sensing, and life cycle cost analysis. It also includes understanding and implementing green building standards and recognising the significance of sustainable materials such as low-carbon concrete, energy-efficient HVAC systems, and renewable energy sources.

Institutions Providing Dedicated Courses

While many general courses related to quantity surveying are available, limited institutions offer dedicated and specialised MBA courses. SMEC, a direct partner of the National Skill Development Corporation(NSDC), offers a three-month skill development diploma course in Quantity Surveyor and Quality Controller. Such courses provide limited skills. On the other hand, an MBA offers a full-fledged knowledge base and industry-ready real-time simulations that make an individual market-ready.

Institutions like RICS SBE, Amity University have a two-year MBA programme in Construction Economics and Quantity Surveying. This programme focuses not only on technical skills but also ensures the inclusion of software(MS Excel, CostX, Candy CCS, BIM, Primavera and MS Project) and soft skills(time management, communication, presentation, numeracy, analytical, negotiation, team building, and critical thinking skills). Such a holistically planned programme ensures qualitatively bridging the demand gap in the market.

Prospective Infrastructure Development

India has outlined its infrastructural goals for the coming 25 years. It is poised to grow strongly, with a corpus of US$1.4 trillion planned by 2025. The up-to-date talent pool of individuals with a proper understanding of risk assessment, standards and regulations upgrade, Geospatial Information System (GIS) and Building Information Modeling (BIM), blockchain technology and cloud computing are in demand to achieve the goals. This is mainly because the goal is not restricted to development but is a sustainable and technologically-driven innovative process. Pursuing a specialised MBA can help supply appropriate talent in the prospective development strategy.

Dynamic Job Roles

Quantity surveyors can transition from traditional cost estimation roles to leading projects with the right experience and programme. They have the luxury of exploring not one but four different domains as quantity surveyors. They can boast their construction, real estate, infrastructure, and consultancy skills. From beginning their careers in profiles such as junior or assistant quantity surveyors to laddering up to high-paying roles like Vice President or general manager, the overall landscape in this niche is quite lucrative. So, graduates looking to gear up their careers or planning to switch careers can explore this option of quantity surveying as a career choice.

Summing Up

The growing demand for quantity surveyors with an MBA reflects a broader trend towards integrating strategic management skills with technical expertise in the construction and built environment sectors. As the industry becomes increasingly complex and competitive, the ability to navigate financial management, project coordination, and strategic decision-making has never been more valuable.