Cost Estimator Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.
Cost Estimator is Also Know as
In different settings, Cost Estimator is titled as
- Acquisition Cost Estimator
- Analyst
- Construction Estimator
- Cost Analyst
- Cost Consultant
- Cost Engineer
- Cost Estimating Analyst
- Cost Estimator
- Estimating Specialist
- Estimator
Education and Training of Cost Estimator
Cost Estimator is categorized in Job Zone Four: Considerable Preparation Needed
Experience Required for Cost Estimator
A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Education Required for Cost Estimator
Most of these occupations require a four-year bachelor's degree, but some do not.
Degrees Related to Cost Estimator
- Bachelor in Materials Engineering
- Associate Degree Courses in Materials Engineering
- Masters Degree Courses in Materials Engineering
- Bachelor in Mechanical Engineering
- Associate Degree Courses in Mechanical Engineering
- Masters Degree Courses in Mechanical Engineering
- Bachelor in Construction Engineering
- Associate Degree Courses in Construction Engineering
- Masters Degree Courses in Construction Engineering
- Bachelor in Manufacturing Engineering
- Associate Degree Courses in Manufacturing Engineering
- Masters Degree Courses in Manufacturing Engineering
- Bachelor in Construction Engineering Technology/Technician
- Associate Degree Courses in Construction Engineering Technology/Technician
- Masters Degree Courses in Construction Engineering Technology/Technician
- Bachelor in Business/Commerce, General
- Associate Degree Courses in Business/Commerce, General
- Masters Degree Courses in Business/Commerce, General
Training Required for Cost Estimator
Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Related Ocuupations
Some Ocuupations related to Cost Estimator in different industries are
- Logistics Engineers
- Production, Planning, and Expediting Clerks
- Construction Managers
- Industrial Engineers
- Civil Engineering Technologists and Technicians
- Architectural and Engineering Managers
- Project Management Specialists
- Purchasing Agents, Except Wholesale, Retail, and Farm Products
- Architectural and Civil Drafters
- Civil Engineers
- Mechanical Engineering Technologists and Technicians
- Energy Auditors
- Sales Engineers
- Industrial Engineering Technologists and Technicians
- Insurance Appraisers, Auto Damage
- Electrical Engineers
- Logistics Analysts
- Electrical and Electronics Drafters
- Solar Energy Installation Managers
- Information Technology Project Managers
What Do Cost Estimator do?
- Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.
- Assess cost effectiveness of products, projects or services, tracking actual costs relative to bids as the project develops.
- Consult with clients, vendors, personnel in other departments, or construction foremen to discuss and formulate estimates and resolve issues.
- Confer with engineers, architects, owners, contractors, and subcontractors on changes and adjustments to cost estimates.
- Prepare estimates used by management for purposes such as planning, organizing, and scheduling work.
- Prepare estimates for use in selecting vendors or subcontractors.
- Review material and labor requirements to decide whether it is more cost-effective to produce or purchase components.
- Prepare cost and expenditure statements and other necessary documentation at regular intervals for the duration of the project.
- Prepare and maintain a directory of suppliers, contractors and subcontractors.
- Set up cost monitoring and reporting systems and procedures.
- Establish and maintain tendering process, and conduct negotiations.
- Conduct special studies to develop and establish standard hour and related cost data or to reduce cost.
- Visit site and record information about access, drainage and topography, and availability of utility services.
- Collect historical cost data to estimate costs for current or future products.
Qualities of Good Cost Estimator
- Inductive Reasoning: The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
- Oral Expression: The ability to communicate information and ideas in speaking so others will understand.
- Oral Comprehension: The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Mathematical Reasoning: The ability to choose the right mathematical methods or formulas to solve a problem.
- Written Comprehension: The ability to read and understand information and ideas presented in writing.
- Number Facility: The ability to add, subtract, multiply, or divide quickly and correctly.
- Written Expression: The ability to communicate information and ideas in writing so others will understand.
- Near Vision: The ability to see details at close range (within a few feet of the observer).
- Deductive Reasoning: The ability to apply general rules to specific problems to produce answers that make sense.
- Information Ordering: The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
- Speech Clarity: The ability to speak clearly so others can understand you.
- Speech Recognition: The ability to identify and understand the speech of another person.
- Problem Sensitivity: The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem.
- Category Flexibility: The ability to generate or use different sets of rules for combining or grouping things in different ways.
- Fluency of Ideas: The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
- Selective Attention: The ability to concentrate on a task over a period of time without being distracted.
- Visualization: The ability to imagine how something will look after it is moved around or when its parts are moved or rearranged.
- Flexibility of Closure: The ability to identify or detect a known pattern (a figure, object, word, or sound) that is hidden in other distracting material.
- Perceptual Speed: The ability to quickly and accurately compare similarities and differences among sets of letters, numbers, objects, pictures, or patterns. The things to be compared may be presented at the same time or one after the other. This ability also includes comparing a presented object with a remembered object.
- Originality: The ability to come up with unusual or clever ideas about a given topic or situation, or to develop creative ways to solve a problem.
- Speed of Closure: The ability to quickly make sense of, combine, and organize information into meaningful patterns.
- Far Vision: The ability to see details at a distance.
- Time Sharing: The ability to shift back and forth between two or more activities or sources of information (such as speech, sounds, touch, or other sources).
- Memorization: The ability to remember information such as words, numbers, pictures, and procedures.
- Visual Color Discrimination: The ability to match or detect differences between colors, including shades of color and brightness.
- Trunk Strength: The ability to use your abdominal and lower back muscles to support part of the body repeatedly or continuously over time without "giving out" or fatiguing.
- Auditory Attention: The ability to focus on a single source of sound in the presence of other distracting sounds.
- Wrist-Finger Speed: The ability to make fast, simple, repeated movements of the fingers, hands, and wrists.
- Hearing Sensitivity: The ability to detect or tell the differences between sounds that vary in pitch and loudness.
- Depth Perception: The ability to judge which of several objects is closer or farther away from you, or to judge the distance between you and an object.
- Finger Dexterity: The ability to make precisely coordinated movements of the fingers of one or both hands to grasp, manipulate, or assemble very small objects.
- Spatial Orientation: The ability to know your location in relation to the environment or to know where other objects are in relation to you.
- Manual Dexterity: The ability to quickly move your hand, your hand together with your arm, or your two hands to grasp, manipulate, or assemble objects.
- Gross Body Coordination: The ability to coordinate the movement of your arms, legs, and torso together when the whole body is in motion.
- Arm-Hand Steadiness: The ability to keep your hand and arm steady while moving your arm or while holding your arm and hand in one position.
- Sound Localization: The ability to tell the direction from which a sound originated.
- Glare Sensitivity: The ability to see objects in the presence of a glare or bright lighting.
- Peripheral Vision: The ability to see objects or movement of objects to one's side when the eyes are looking ahead.
- Night Vision: The ability to see under low-light conditions.
- Gross Body Equilibrium: The ability to keep or regain your body balance or stay upright when in an unstable position.
- Control Precision: The ability to quickly and repeatedly adjust the controls of a machine or a vehicle to exact positions.
- Dynamic Flexibility: The ability to quickly and repeatedly bend, stretch, twist, or reach out with your body, arms, and/or legs.
- Extent Flexibility: The ability to bend, stretch, twist, or reach with your body, arms, and/or legs.
- Stamina: The ability to exert yourself physically over long periods of time without getting winded or out of breath.
- Dynamic Strength: The ability to exert muscle force repeatedly or continuously over time. This involves muscular endurance and resistance to muscle fatigue.
- Explosive Strength: The ability to use short bursts of muscle force to propel oneself (as in jumping or sprinting), or to throw an object.
- Static Strength: The ability to exert maximum muscle force to lift, push, pull, or carry objects.
- Speed of Limb Movement: The ability to quickly move the arms and legs.
- Reaction Time: The ability to quickly respond (with the hand, finger, or foot) to a signal (sound, light, picture) when it appears.
- Rate Control: The ability to time your movements or the movement of a piece of equipment in anticipation of changes in the speed and/or direction of a moving object or scene.
- Response Orientation: The ability to choose quickly between two or more movements in response to two or more different signals (lights, sounds, pictures). It includes the speed with which the correct response is started with the hand, foot, or other body part.
- Multilimb Coordination: The ability to coordinate two or more limbs (for example, two arms, two legs, or one leg and one arm) while sitting, standing, or lying down. It does not involve performing the activities while the whole body is in motion.
Tools Used by Cost Estimator
- Desktop computers
- Notebook computers
- Personal computers
- Personal digital assistants PDA
- Scanners
- Tablet computers
Technology Skills required for Cost Estimator
- Adobe Acrobat
- Apple AppleWorks
- Assured Software JPP
- Autodesk AutoCAD
- Autodesk Revit
- Choice Job Cost
- Computer aided design and drafting CADD software
- ConEst BidTrac
- ConEst Electrical Formulas
- ConEst Intellibid
- ConEst IntelliBid Design Build
- ConEst JobTrac
- ConEst Permit Trac
- ConEst SureCount
- ConEst T&M Billing Manager
- Construction Management Software ProEst
- Corel QuattroPro
- Cost accounting software
- Cost estimating software
- CPR International GeneralCOST Estimator
- CPR Visual Estimator
- Dassault Systemes CATIA
- Decisioneering Crystal Ball
- EFI Hagen OA
- Galorath SEER
- Galorath SEER-SEM
- HCSS HeavyBid
- HCSS HeavyJob
- IBM Costimater
- IBM Lotus 1-2-3
- Intuit QuickBooks
- Laserfiche Avante
- Logic Software Easy Projects.NET
- Microsoft Access
- Microsoft Business Contact Manager
- Microsoft Dynamics
- Microsoft Excel
- Microsoft Office software
- Microsoft OneNote
- Microsoft Outlook
- Microsoft PowerPoint
- Microsoft Project
- Microsoft Visio
- Microsoft Word
- On Center On-Screen Takeoff
- Oracle Hyperion
- Oracle JD Edwards EnterpriseOne
- Oracle Primavera Enterprise Project Portfolio Management
- Palisade @Risk
- PRICE Sytems TruePlanning
- Primavera Cost Management
- QSM SLIM Suite
- Resources Calculations Incorporated SoftCost
- Sage 100 Contractor
- Sage 300 Construction and Real Estate
- Sage 50 Accounting
- SAP BusinessObjects Crystal Reports
- SAP software
- Softstar Costar COCOMO II
- Software AG enterprise software
- Trimble SketchUp Pro
- WinEstimator WinEst
- Xactware Xactimate