What is a Quantum Expert?

By visiting Veritas Surveying Ltd, you can presumably already define Quantum Expert. We certainly can:

"Quantum experts are key in developing soundly reasoned and evidenced reports that can be essential in delivering the desired financial outcome to a dispute or hearing."

What it means in practice too is fairly easy to state - a quantum expert gives impartial advice to a court or tribunal of the value of claims.

Let's take a rudimentary example, simply for illustrative purposes, ie, this is made up not a real case we've encountered.

A 30 storey residential tower apartment building is under construction in Manchester city centre.  The owner and general contractor established a contract with a guaranteed maximum price of £100 million and planned for a two  year construction schedule. The contractors set up the subcontractors and started the foundation building work with few problems. However, cost increases and supply chain issues impacted the project, including major price increases in structural steel and delays to steel delivery. Other material costs increased and these continued in the internal fit, with appliances soaring in price and their supply severely curtailed. Costs increased by 30% and the project was completed after three years, not two, at a higher cost.

Where would a Quantum Expert stand on this?

Firstly, a Quantum Expert would study the data and circumstances closely, taking into account the issues faced by the owner and contractor. Each particular case would be considered carefully. Facts and opinions are usually demarcated and cross referencing will take place.  Construction disputes are generally complex and can contain a lot of emotion and the role of the Quantum Expert and their report is to present an objective report. Any Quantum Expert report needs to be easy to follow and understand, given that it may be used in a tribunal or court.

What makes a good Quantum Expert testimony?

As for most things in life, organisation and preparation are key factors.. Knowing your own report intimately as well as the other expert’s report is crucial. When you are challenged as a Quantum Expert, as inevitably you will, you need to be able to point to areas that address these questions.

In summary

Delays within construction projects can occur for many reasons, often causing great financial losses and disrupting whole time schedules. It is the job of somebody working as a Quantum Expert to understand and analyse the financial repercussions of these delays. The delays can occur due to labouring issues, soaring material costs, disrupted financing for the project, severe weather issues or other obstacles. Moreover, a delay itself can cause increased expenditure and hasten the need for arbitration.

If you need Quantum Expert advice, please do get in touch.