Cost Engineer Job Description

A cost engineer helps a company reduce operating expenses.

Cost engineers prepare cost estimates for corporate operating processes, such as product manufacturing, and for major infrastructure initiatives, such as construction projects. They ensure that operating costs remain within budgetary limits.

Nature of the Work

A cost engineer takes in the development and execution of the project plan; performs quality assurance on cost control procedures; and monitors costs and collects cost data to ensure conformity with top management's budget directives. He also interacts with computers; communicates with superiors, peers and subordinates; and discusses cost information with project contractors.

Skills, Tools and Technologies

A cost engineer must have mathematical acumen, good communication skills and financial expertise when performing tasks, according to the career data portal Onet Online. She often uses personal digital assistants, analytical software and project management applications, such as Galorath SEER and Microsoft Project.

Academic Credentials and Remuneration

A cost engineer typically has a bachelor's degree in engineering, computer science or business management. However, most senior professionals generally hold master's degrees. According to the job resources website Indeed, the average annual earnings of a cost engineer were $87,000 as of 2010.

References

• Hire Desk: Cost Engineer
• Onet Online: Cost Estimators
• Bureau of Labor Statistics: Cost Estimators
• Indeed: Cost Engineer Salary