Quantum experts are the heroes that come into action once delay experts are done with their job. Experts in quantum could be individuals or organizations that are responsible for the damage quantification in terms of money. They carefully calculate the costs spent or wasted in case of delays and additional losses.
This article will depict detailed information about when are construction claims consultants considered for quantum analysis.
Reasons to acquire a quantum expert
The pro quantum people closely work with construction claims consultants and delay experts to dig into the final loss conclusion and evaluation for the client. Their results and work are closely related to the findings of delay experts which are a part of construction claims agency.
However, they can also offer individual quantum services to their clients, which is a rare case. Here are the main reasons that lead to taking quantum services from experts.
1. Quantum determination
The sole purpose of a quantum analyst is to determine the losses of quantum. They come up with a detailed conversion strategy to translate time ad delay losses in terms of monetary units. They set standard units for quantum determination and are called to extensively look at the work of delay experts.
Quantum analysis is the crux of the whole scenario as all the claimant wants is to get compensated for its losses. Thus, quantum determination results in sorting out issues and winning trust for the party who has claimed loss.
2. Monetary calculation of losses
Soon after the delay expert is done with the identification of delay events and has assigned the quantification of delays in temporal units to contractors, financial experts come to the scene. The consultation services are required to measure the overall damage in terms of monetary units.
The damage can be either the additional hours spent or the extra costs that came for labor task.
3. How to sort out the losses?
The quantum analyst further analyzes the situation and estimates costs for overall financial damages. Moreover, he also tries to cover up the losses of the claimant by bringing the situation back to normal. This would happen as if the damage hadn’t occurred.
By successful negotiation and analysis of the situation, the affected gets the monetary compensation of the losses that incurred. These losses might include the profit loss that resulted in a damaging event. However, the loss might vary according to the situation that has led to the damage.
Looking for experienced construction claims consultants?
If you have been through a construction claims dispute or stuck with the delay report, you should definitely look out for experts in quantum who will help in relating financial information of a given project in contractor’s financial statements.
Quantum analysis is the end result for any party who claims that another party is responsible for a particular loss. After going through a detailed analysis by dispute managers and delay experts, quantum analyst finally puts an end to the issue.
Thus, the best suitable option is to consult top construction claims consultants in Dubai, as soon as you think of going for a construction project.