Cost Estimators

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About the Job

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.

It is also Called

  • Service Advisor
  • Quantity Surveyor
  • Project Estimator
  • Production Cost Estimator
  • Procurement Technician
  • Preconstruction Manager
  • Job Estimator
  • Job Cost Estimator
  • Investment Recovery Technician
  • Estimator Project Manager
show all

What They Do

  • Visit site and record information about access, drainage and topography, and availability of services such as water and electricity.
  • 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 effect cost reduction.
  • Review material and labor requirements to decide whether it is more cost-effective to produce or purchase components.
  • Prepare and maintain a directory of suppliers, contractors and subcontractors.
  • Establish and maintain tendering process, and conduct negotiations.
  • Set up cost monitoring and reporting systems and procedures.
  • Prepare estimates for use in selecting vendors or subcontractors.
  • Assess cost effectiveness of products, projects or services, tracking actual costs relative to bids as the project develops.
  • Confer with engineers, architects, owners, contractors, and subcontractors on changes and adjustments to cost estimates.

Interests

People who work in this occupation generally have the interest code: C.

This means people who work in this occupation generally have Conventional interests.

Work Values

People who work in this occupation generally prize Relationships, but also value Independence and Working Conditions in their jobs.

Things They Need to Know

  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Engineering and Technology - Knowledge of the practical application of engineering science and technology. This includes applying principles, techniques, procedures, and equipment to the design and production of various goods and services.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Building and Construction - Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Things They Need to Be Able to Do

  • Mathematics - Using mathematics to solve problems.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Speaking - Talking to others to convey information effectively.
  • Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.