A cost estimator is responsible for analyzing data to estimate the cost of a project. They work with clients and contractors to develop a budget for a project. Cost estimators must be able to understand complex blueprints and specifications. They use their knowledge of construction methods, materials, and equipment to develop an accurate estimate of the cost of a project.
Cost Estimator Job Responsibilities
Develop cost estimates for new construction projects
Review project plans and specifications to develop accurate cost estimates
Coordinate with project managers, engineers, and other stakeholders to obtain all necessary information for cost estimation
Analyze historical data and market trends to develop accurate costs for materials, labor, and other project costs
Prepare detailed reports outlining estimated costs and present to clients or management as needed
Monitor actual project costs against estimated costs and update estimates as needed
Assist in the development of bid proposals and contract negotiations
To develop cost estimates for potential projects and clients, in order to provide accurate information for decision making purposes.
To work with project managers and other stakeholders to ensure that all relevant information is considered when developing cost estimates.
To constantly update and improve cost estimating methods and processes, in order to increase accuracy and efficiency.
To maintain upto-date knowledge of relevant market trends, prices, etc., in order to produce accurate cost estimates.
To liaise with suppliers as necessary to obtain accurate pricing information for inclusion in cost estimates.
To prepare reports detailing cost estimates for review by management
Cost Estimator Job Skills & Qualifications Needed
The skills and qualifications needed for the role of cost estimator vary depending on the specific industry. However, most cost estimators need at least a bachelor's degree in engineering, business, construction management, or a related field. In addition, cost estimators should have strong math skills and experience with project management software.