Code : 2023005
Event Name : [Hybrid] Internal Project Cost Audit for Mitigation of Risks and Reduction of Construction Costs in Property Developers
CPD Code : Formal Events
Speaker : Sr Joseph HC Chong, BSc(Surv)(1st), MSc(IDM), FHKIS, RPS(QS), MHKICM, RCM, BeamPro(incl BI), China Cost Engineer Qualification

Joseph is currently the department head of project cost audit in a private property developer. He has over 20 years’ experience in quantity surveying and has been working for different property developers in the last 13 years. He is now responsible for full project cycle cost audit of residential/ office projects in Hong Kong and Singapore.

Joseph has served as a QSD Council Member since 2005 and was the Chairman of Young Surveyors Group of the HKIS in 2008-2009. He was the Senior Advisor to ICEC Rising Professionals and the inaugural Chairman of the Pacific Association of Quantity Surveyors (PAQS) Young Quantity Surveyors Group from 2010-2014. He is also Immediate Past President of HKU Surveying Alumni Association and an Exco Member of HKU Alumni Association.
Event Date : 2023-03-07
Event Time : 7:00 pm - 8:30 pm
Registration Closing Date : 2023-03-04
CPD Hour(s) : 1.5
Venue : 1) Surveyors Learning Centre, Room 1207, 12/F, Wing On Centre, 111 Connaught Road Central, Sheung Wan, Hong Kong (subject to the prevailing COVID-19 precautionary measures) 2) By online media - ZOOM
Division : QSD
Organizer : Quantity Surveying Division
Fee : HK$150 for members; HK$210 for non-members; Free of charge for full time degree student members (subject to availability)***(Please refer to the remarks)
Priority : HKIS members; first-come-first-served
Language : Cantonese supplemented by English
Details :

Most property developers in Hong Kong committed to maintain a high standard of corporate governance. They are required to establish sound internal control and risk management system and procedures to avoid significant losses. As construction projects involve substantial capital expenditures, internal project cost audit functions are often established within Hong Kong property developers to mitigate risk and reduce construction costs, even though independent cost consultants have been used. Quantity surveyors are qualified professionals to carry out internal project cost audit functions as they are familiar with tender procedures, construction contracts and costs.

In this talk, Joseph will share:

  • typical scope of work of internal project cost audit functions in different property developers
  • set forth examples and share cases identified in the construction cost audit process
  • points to note for consultancy contracts
  • areas for potential savings in the tender process
  • whether internal project cost audit can achieve risk mitigation and cost savings?
Remarks :

***Registration priority for the free seats will be given to QSD full-time degree student members. Please send an email stating the programme you are studying, with a soft copy of your University Student ID card to HKIS Secretariat ([email protected]) for verification.

*For Face-to-Face: Special arrangements under COVID-19 Pandemic*:

  • Prior online registration is required. Walk-in registration will not be entertained.
  • All participants are required to take a RAT with negative result on the event day prior to coming to the venue.
  • Limited number of seats with social distancing is available at the Surveyors Learning Centre.
  • Participants should scan the “LeaveHomeSafe安心出行” QR code with their mobile phones or register their personal information in the online Health Declaration Form (https://forms.gle/PhKD1UiAvWSB9mf49) upon arrival at the Surveyors Learning Centre.
  • Participants will be denied entry if they fail to scan the “LeaveHomeSafe安心出行” QR code or complete the online Health Declaration Form.
  • Participants will be denied entry to the Surveyors Learning Centre if they have been travelling abroad, or have been in direct contact with someone who has tested positive for COVID-19, or have any symptoms of COVID-19 (including but not limited to fever, cough, shortness of breath, breathing difficulty, sudden loss of taste or smell and/or sore throat) in the last 21 days, or have been confirmed with COVID-19 or undergoing compulsory quarantine or medical surveillance arrangements of the HKSAR Department of Health.
  • Participants are required to wear a surgical mask at all times at the Surveyors Learning Centre.
  • Eating and drinking is not allowed at the Surveyors Learning Centre.
  • Disinfection service has been arranged at the Surveyors Learning Centre (comprising the Lecture Room, Meeting Room 1, Board Room, Library and Meeting Room 2).

*For ZOOM: The event will be conducted online via ZOOM. Upon successful registration, the ZOOM link for joining the CPD event will be available in the CPD/PQSL profile under the "Member Area" of the HKIS website.

Please install the Zoom Application in advance at https://www.zoom.us/download.

  • For Mobile phones, iPads & Android, install the ZOOM Cloud Meetings app from App Store or Play Store.
  • For PC and Mac, download and install the Zoom Client for Meetings.
Payment : HKD 150
Face-to-Face/Zoom :

HKIS members only