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As cost estimating programs became more and more popular over the years, more advanced features, such as saving data for reuse, mass project-wide changes, and trade-specific calculations, have become available. [6] For example, programs that are designed for building construction, include libraries and program features for traditional builders.
A building estimator or cost estimator is an individual that quantifies the materials, labor, and equipment needed to complete a construction project. Building cost estimating can concern diverse forms of construction from residential properties to hi-rise and civil works.
A cost estimate is the approximation of the cost of a program, project, or operation. 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 ...
"Cost engineering practitioners tend to be: a) specialized in function (e.g., cost estimating, planning and scheduling, etc.); b) focused on either the asset management or project control side of the TCM process; and c) focused on a particular industry (e.g., engineering and construction, manufacturing, information technology, etc) or asset ...
In project management (e.g., for engineering), accurate estimates are the basis of sound project planning.Many processes have been developed to aid engineers in making accurate estimates, such as
Construction cost management is a fee-based service in which the construction manager (CM) is responsible exclusively to the owner, acting in the owner's interests at every stage of the project. The construction manager offers impartial advice on matters such as: Optimum use of available funds; Control of the scope of the work; Project scheduling
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To date, there is not currently a professional qualification or regulatory body for civils estimating within the UK. As a consequence, the learning curve from a trainee estimator to senior estimator could be an undisclosed amount of time and largely falls into the responsibility of the employer and or senior estimator to determine time scale and progression of trainee estimators.