Marg Career Library - Cost Estimators

Overview:

Prepare cost estimates for product manufacture, construction projects, or services to assist management in bidding on or deciding product or service pricing. Depending on the type of service or product manufactured, they may specialise.

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Career Path:

Stream of Study in 12th Grade/School:	Science Arts Commerce Diploma
Degree/Graduation Courses:	Bachelor’s degree in construction management or engineering Associate’s Degree
Higher education/Post Graduation Courses:	NA

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Top Colleges:

College of Engineering, Pune
Indian Institute of Technology, Madras
Lovely Professional University, Jalandhar
Veermata Jijabai Technological Institute, Mumbai
Kumaraguru College of Technology, Coimbatore

Job Opportunities:

Building construction estimators
Estimator project managers
Project control specialists
Cost consultants
Construction job cost estimators

Job Responsibilities:

Set up methods and procedures for expense monitoring and reporting.
Special studies should be conducted to generate and establish standard hour and related cost statistics, or to reduce costs.
Evaluate the cost-effectiveness of products, projects, or services, keeping track of actual costs versus bids as the project progresses.
Create and maintain a tendering procedure, as well as negotiate.
Examine the material and labour requirements to determine whether producing or purchasing components is more cost-effective.
Gather historical cost information to make cost estimates for current and future items.
Changes and revisions to cost estimates should be discussed with engineers, architects, owners, contractors, and subcontractors.

Work Life:

40 hours a week
Work mostly indoors and sometimes outdoors
On-the-job training

Key Skills:

Communication skills
Math skills
Time-management skills
Analytical skills
Detail-oriented

Merits & Demerits:

Merits

1. Collaborate with others
2. Good salary for few specialisations
3. Can fit in multiple roles

Demerits

1. Requirement of service might get reduced due to advancement in technology
2. A considerable amount of work-related skill, knowledge, or experience is required for this career.
3. The job is more theoretical than practical

Overview
Career Path
Top Colleges
Job Opportunities
Job Responsibilities
Work Life
Key Skills
Merits & Demerits

Cost Estimators

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