The challenges of pricing quantity surveying professional services in Ghana

Abstract

PurposeThe purpose of this study is to investigate the challenges of pricing quantity surveying (QS) professional services to enhance the understanding of practitioners in developing strategies for the determination of fees for their services.Design/methodology/approachThe paper adopts the quantitative approach by administering 150 survey questionnaires QS professionals out of which 79 questionnaires were retrieved for analysis using the mean, standard deviation, standard error and the Chi-Square test.FindingsThe study identified the challenges that continue to hamper the successful pricing of QS services as the inability to respond to changing contractual arrangements; lack of appropriate response to emerging services; slow response to changes in information and communication technology.Research limitations/implicationsThis paper focused on QS professionals. Hence, a future study to encompass other professionals in the built environment will be novel.Practical implicationsThe findings of this paper have the potential to motivate QS firms to develop solutions that address the challenges identified to improve the efficiency of their service delivery to clients. The paper also has the practical importance of opening up new frontiers of research that focus on pricing of professional services in the built environment in general.Originality/valueThe paper contributes to the awareness and understanding of QS professionals about the challenges that continue to hamper effective pricing of their services.

Market Structure Analysis of Revenue of International Construction Professional Service (I-CPS): A Country-Level Analysis

“…Murphy and Seriki [40] provided empirical evidence of the impact of environmental volatility on the strategic decision-making process in Irish CPS firms. Adesi et al [41] investigated complex factors that hinder effective pricing of CPSs in Ghana to suggest strategies for mitigating their negative impacts. In addition, according to ENR [42] published in August 2023, the I-CPS market is facing climate change, and resilient design demands grow to provide solutions to unexpected temperatures and water/energy shortages.…”

Assessment of Fee Variability among Built Environment Professionals in South Africa: A Comparative Analysis

“…Therefore, consultants would finish high-risk projects in exchange for the potential of receiving compensation further down the line [2,13]. A contact between a practitioner and a client that allows the client to assess the quality of the services delivered is considered the definition of professional service [1]. In addition to this, professional services are distinguished by a significant emphasis placed on in-depth industry knowledge.…”

“…In spite of the fact that there are a variety of pricing strategies, one of the most common approaches for determining the cost of professional services is the percentage fee determination method, which involves allocating percentages to services rendered at a number of different stages of the construction project [1,14]. As a result, the variety of client requirements and expectations in the sector could be prone to subjectivity, imprecision, inexhaustibility, and complexity [17].…”

“…This argument has been sparked by the perception that the quality of professional services provided by professionals in the built environment has been declining [28]. This is not only peculiar to the South African construction industry, as other studies such as Adesi et al [1] have identified challenges in fee variability and remuneration as critical in influencing the ability of professional firms to respond to contractual arrangements.…”

“…The capacity of professional services in the built environment to produce revenue and employment has contributed to the significant impact of the built environment on socio-economic development [1,2]. When an individual of professional standing presents themselves as possessing the necessary qualifications in a specific professional field, they are thereby implying their ability to provide services related to said profession at the requisite level of proficiency and knowledge.…”