What Does a Cost Engineer Do?
Not all Engineers create functional tools. Cost Engineers use practical experience to determine project costs. Read this article to learn more about working as a Cost Engineer. Schools offering Engineering & Technology Management degrees can also be found in these popular choices.
Cost Engineering In Practice
Before a group of investors, companies or individuals starts a project, they work with a Cost Engineer to keep their project within budget. Before accepting bids, material, labor and other costs are considered. A Cost Engineer may have the skill to build or create a machine but uses engineering principles to control costs.
What Do Cost Engineers Do?
Cost Engineers use their skill and experience to determine the amount of time, money and resources projects will require. The Association for the Advancement of Cost Engineering, www.aacei.org, reports that these professionals use engineering experience and judgment to apply science to business planning, management and scheduling. The U.S. Bureau of Labor Statistics, www.bls.gov, reports that information gathering, estimation and problem solving encompass a Cost Engineer's duties.
Cost Engineering Education
There are no formal programs devoted solely to Cost Engineering, though some universities include it as part of their Civil Engineering degree programs. A Bachelor of Science in Engineering with a concentration on a specific area, such as construction or civil engineering will help prepare anyone interested in the field.
Not all Cost Engineers have an engineering background, and some start their careers with knowledge of engineering principles in construction trades. A Mathematics or Statistics degree or specialized courses can qualify applicants for Cost Engineering positions. Voluntary certification is available from Cost Engineering professional organizations, such as AACE International or SCEA.
Cost Engineering Industries
Over half of all Cost Engineers work in the construction industry, while another 15% work in manufacturing. Many Cost Engineers receive training from their employers due to the lack of formal degree programs. Working with an experienced Cost Engineer on the job provides the additional training.
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