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.

O*NET reports this occupation under titles such as: Acquisition Cost Estimator; Analyst; Construction Estimator; Cost Analyst; Cost Consultant; Cost Engineer; Cost Estimating Analyst; Cost Estimator; Estimating Specialist; Estimator

Tasks

• Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.
• Confer with engineers, architects, owners, contractors, and subcontractors on changes and adjustments to cost estimates.
• Collect historical cost data to estimate costs for current or future products.
• 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.
• Establish and maintain tendering process, and conduct negotiations.
• Prepare estimates for use in selecting vendors or subcontractors.
• Prepare estimates used by management for purposes such as planning, organizing, and scheduling work.
• Set up cost monitoring and reporting systems and procedures.
• 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.
• 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.
• Prepare and maintain a directory of suppliers, contractors and subcontractors.

Knowledge

• Mathematics
• Economics and Accounting
• Computers and Electronics
• Engineering and Technology
• Building and Construction
• Administration and Management
• English Language
• Design
• Customer and Personal Service

Skills

• Reading Comprehension
• Mathematics
• Speaking
• Active Listening
• Critical Thinking
• Writing
• Active Learning
• Monitoring

Abilities

• Inductive Reasoning
• Oral Comprehension
• Oral Expression
• Mathematical Reasoning
• Written Comprehension
• Number Facility
• Written Expression
• Deductive Reasoning
• Near Vision
• Information Ordering
• Speech Clarity
• Speech Recognition
• Problem Sensitivity
• Category Flexibility
• Fluency of Ideas
• Flexibility of Closure
• Visualization
• Selective Attention