What is the significance of as-built quantities in project management?

The significance of as-built quantities in project management lies in their role as a reliable measure of the actual amount of work completed, which is essential for determining payment for the services rendered. As-built quantities reflect the exact measurements and quantities of materials and work performed on the project, often documented after construction is complete.

In construction management, accurate record-keeping of as-built quantities is crucial. These figures help in validating contractors' claims for payment based on the actual work completed, ensuring that financial transactions align with what has been constructed. This documentation also serves as a basis for evaluating project performance, understanding cost overruns, and making informed decisions for similar future projects.

While the remaining choices address different aspects of project management—such as projected quantities, estimates for uncompleted work, and future cost calculations—they do not capture the core purpose of as-built quantities, which is centered on the accountability and verification of work completed to facilitate accurate financial processes.