Cost engineers
Cost Engineering is concerned with the preparation of cost estimates for the development, execution and management of investment projects. A Cost Engineer advises internal or external clients in cost planning and management.
The Cost Engineer sets up project budgets, calculates pricing and obtains procurement quotations from suppliers.
In addition, the Cost Engineer ensures that all documents, drawings and data that are prepared or received are fully satisfactory, both technically and financially.
The duties of a Cost Engineer may include:
- Assessing and advising on cost prices (functions and costs) during the study or engineering phase of projects;
- Realising cost price targets with respect to functions and production parts during the development phase of innovation projects;
- Advising and evaluating design concepts with a view to fabrication and reproducibility;
- Monitoring of the standard (price) agreements with regard to costs;
- Initiating and guiding improvement projects.
