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Significant professional bodies for electrical engineers include the Institute of Electrical and Electronics Engineers and the Institution of Engineering and Technology. The former claims to produce 30 percent of the world's literature on electrical engineering, has over 360,000 members worldwide and holds over 300 conferences annually.
Cost engineering is "the engineering practice devoted to the management of project cost, involving such activities as estimating, cost control, cost forecasting, investment appraisal and risk analysis". [1] "Cost Engineers budget, plan and monitor investment projects. They seek the optimum balance between cost, quality and time requirements." [2]
In the 1960s, the electrical industry was booming thanks to lower prices and the huge increase in the number and reach of power lines, making electricity more in demand than ever before. By 1972, it was widely recognized that this rapid growth demanded some oversight to promote safety, system reliability , and quality testing.
The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate. A cost estimator is the professional who prepares cost estimates.
It was founded in 1956 [1] by about 20 cost estimators in Los Angeles, California. [2] In 1974, there were 10 chapters totalling 600 members. By 1977, there were 23 chapters totalling 1500 members. The society's web page states that there are thousands [clarification needed] of members in 65 chapters across the US.
The titles of the "Certified Engineering Technician" and "Certified Engineering Technologist" are the primary designations. The subcategories are further specialized by focus. The titles chosen for these subcategories are known as Civil Engineering or Electrical/Mechanical Systems. Within the subcategories the disciplines are refined to address ...
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