Cost Estimators

Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.

Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.

1. Consult with clients, vendors, personnel in other departments or construction foremen to discuss and formulate estimates and resolve issues.

2. Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.

3. Prepare estimates for use in selecting vendors or subcontractors.

4. Confer with engineers, architects, owners, contractors and subcontractors on changes and adjustments to cost estimates.

5. Prepare estimates used by management for purposes such as planning, organizing, and scheduling work.

6. Prepare cost and expenditure statements and other necessary documentation at regular intervals for the duration of the project.

7. Assess cost effectiveness of products, projects or services, tracking actual costs relative to bids as the project develops.

8. Set up cost monitoring and reporting systems and procedures.

9. Conduct special studies to develop and establish standard hour and related cost data or to effect cost reduction.

10. Review material and labor requirements to decide whether it is more cost-effective to produce or purchase components.

11. Prepare and maintain a directory of suppliers, contractors and subcontractors.

Reading Comprehension - Understanding written sentences and paragraphs in work related documents.

Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Writing - Communicating effectively in writing as appropriate for the needs of the audience.

Speaking - Talking to others to convey information effectively.

Mathematics - Using mathematics to solve problems.

Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.

Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

Engineering and Technology - Knowledge of the practical application of engineering science and technology. This includes applying principles, techniques, procedures, and equipment to the design and production of various goods and services.

English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.

Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.

Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.

Design - Knowledge of design techniques, tools, and principles involved in production of precision technical plans, blueprints, drawings, and models.

Job Zone Four: Considerable Preparation Needed

Education: Most of these occupations require a four - year bachelor's degree, but some do not.

Training: Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.

The college search results are undergraduate programs associated with Cost Estimators. Further education may also be required to pursue this career.

The training search results include both short and long-term programs associated with Cost Estimators, and may be more appropriate for adult and non-traditional students. Further training may also be required to pursue this career.

In NY the average wage for this occupation was:

$39,010 for entry level workers, and $78,990 for experienced workers.

Based on the total number of annual openings and its growth rate, the employment prospects for this occupation are described as Very Favorable.

During 2006, there were approximately 10,090 Cost Estimators employed in NY.

We estimate that in 2016 there will be 11,910  employed in NY. This represents an increase of 180 job(s) each year, and a total of 210 job openings each year.

West Point Bridge Design Contest - The contest provides middle and high school students with an opportunity to: Learn about engineering through a realistic, hands-on problem-solving experience, the engineering design process--the application of math, science, and technology to create devices and systems that meet human needs, learn about truss bridges and how they work and how engineers use the computer as a problem-solving tool.

Cost estimators - Visit this link for additional information on this career from the Occupational Outlook Handbook; a publication produced and maintained by the United States Department of Labor.

ACE Mentor Program Career Directions for Students in Architecture, Construction, or Engineering - The ACE Mentor Program serves high school youth who are exploring careers in Architecture, Construction, or Engineering.The mentors are professionals from leading design and construction firms who volunteer their time and energy. The program is designed to engage, inform, and challenge youth. New York Chapters include Long Island, New York City, Utica, Buffalo, Capital District, Syracuse and Binghamton

Purchasing Agents, Except Wholesale, Retail, and Farm Products - Purchase machinery, equipment, tools, parts, supplies, or services necessary for the operation of an establishment. Purchase raw or semi-finished materials for manufacturing.

Claims Examiners, Property and Casualty Insurance - Review settled insurance claims to determine that payments and settlements have been made in accordance with company practices and procedures. Report overpayments, underpayments, and other irregularities. Confer with legal counsel on claims requiring litigation.

Insurance Appraisers, Auto Damage - Appraise automobile or other vehicle damage to determine cost of repair for insurance claim settlement and seek agreement with automotive repair shop on cost of repair. Prepare insurance forms to indicate repair cost or cost estimates and recommendations.

Budget Analysts - Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.

Credit Analysts - Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.

Insurance Underwriters - Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

Tax Preparers - Prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.

Actuaries - Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain premium rates required and cash reserves necessary to ensure payment of future benefits.

Mathematicians - Conduct research in fundamental mathematics or in application of mathematical techniques to science, management, and other fields. Solve or direct solutions to problems in various fields by mathematical methods.