Always Double Check Your Bill Of Quantity

It all started with me working out my expenses related to the building project  and planning for future payments on my building project. Part of the money set aside for the building project has been invested in Treasury Bills. These are running on a three month cycle so I needed to work out when exactly to stop the next payment was due into my account and when to stop it from being "issued" for the next three months. Looking at the builders payment plan, I noticed that he had put down a figure of GHC65,000 for the cost of the roof. That looked OK to me, but I retraced my payments back for the substructure and the superstructure. I compared the figures with those made in the Bill Of Quantity [BOQ] and noted that the cost of GHC65,000 for the superstructure had not been included in the BOQ. So instead of being costed GHC500,000 for the building, in actual fact I would need GHC565,000 to get this project completed. This was not good. I knew I was to blame for this error. I should have checked everything thoroughly first before agreeing for the project to commence. I immediately emailed the builder, explained to him what the issue was and questioned him as to why he did not notice the difference in figures [BOQ and his payment plan].

After several days of Builder and his Quantity Surveyor going through their figures, the response I got back was that they, well the Quantity Surveyor, had made an error in not adding the figure of GHC65,000 for the cost of the superstructure. Now I have to work out how I am going to find GHC65,000 to complete the project.

Lesson Learnt: Always go through any figures presented to you as costs with a fine tooth comb.