Definition: Bill of quantities

Purchasing power parities

The product specification that details the operations required to build a construction project. It covers the costs of inputs (labour, materials and plant), subcontracting, preliminaries and overheads. It also covers contractor’s profit or loss, architect’s and engineer’s fees and non-deductible taxes. A bill of quantities is structured to provide a weighted price for each component specified which, when summed across components, provide the purchasers’ price for the construction project described.
Eurostat, Organization for Economic Cooperation and Development (OECD), "Eurostat-OECD Methodological Manual on Purchasing Power Parities", Publications Office of the European Union, Luxembourg, 2012

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