What does a Cost Estimator do?
|Citation||Retrieved in 2017 from BLS.org|
A cost estimator calculates the cost for labor, time, and materials by collecting and analyzing information that is needed to construct a building or product other products. They visit work sites to review the manufacturing process and usually have expertise in a particular area of product or industry. They prepare the cost estimates to assist management, products, or industries in price determination or bidding.
How to become a Cost Estimator
A cost estimator usually needs a bachelor’s degree in accounting and/or similar field to be considered for a position. Experience in mathematics history, on-the-job training, and/or vocational school would aid you to securing a position.
A cost estimator is expected to have knowledge in engineering and technology, mathematics, accounting and economics, and design. Knowledge of building and construction would be another area of experience required of a cost estimator if they work for a construction company or similar setting.
Job Description of a Cost Estimator
A cost estimator would help management in an industry for construction projects, manufacturing product or other services to determine the cost estimate for bidding or service in these or other areas. They would help resolve issues and formulate estimates by consulting with construction Forman, vendors and clients. This would include reading and analyzing documentation and blueprints in order to give accurate material, cost, time and labor estimates.
During the length of a project a cost estimator would be expected to update and prepare cost and other updated documentation to management. This way, the client is always aware of any changes in scheduling or estimated expenditures. They should analyze whether it is more cost effective to purchase or produce labor and materials for a project. He or she may be required to train others, supervise, or coordinate people in this job.