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Cost Estimators

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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.

    Work Activities
    • Collect historical cost data to estimate costs for current or future products.
    • Consult with clients, vendors, personnel in other departments, or construction foremen to discuss and formulate estimates and resolve issues.
    • Prepare estimates used by management for purposes such as planning, organizing, and scheduling work.
    • Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.
    • Confer with engineers, architects, owners, contractors, and subcontractors on changes and adjustments to cost estimates.
    • Assess cost effectiveness of products, projects or services, tracking actual costs relative to bids as the project develops.
    • Prepare estimates for use in selecting vendors or subcontractors.
    • Prepare cost and expenditure statements and other necessary documentation at regular intervals for the duration of the project.
    • Set up cost monitoring and reporting systems and procedures.
    • Establish and maintain tendering process, and conduct negotiations.
    • Prepare and maintain a directory of suppliers, contractors and subcontractors.
    • Review material and labor requirements to decide whether it is more cost-effective to produce or purchase components.
    • Visit site and record information about access, drainage and topography, and availability of services such as water and electricity.
    • Conduct special studies to develop and establish standard hour and related cost data or to effect cost reduction.
    Skills
    • Mathematics

      Using mathematics to solve problems.

    • Critical Thinking

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

    • Reading Comprehension

      Understanding written sentences and paragraphs in work related documents.

    WorkKeys®
    Applied Math
    6
    Workplace Documents
    5
    Graphic Literacy
    6
    Abilities
    • Inductive Reasoning

      The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).

    • Mathematical Reasoning

      The ability to choose the right mathematical methods or formulas to solve a problem.

    • Number Facility

      The ability to add, subtract, multiply, or divide quickly and correctly.

    Knowledge
    • 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.

    Career Video
    Additional videos and more information available on CareerOneStop
    Pay
    • Ohio Annual Salary $62,710/yr
    • Typical Salary
    • Ohio Hourly Wage $30.15/hr
    • Typical Hourly Wage
    Ohio Employment Trends
    • Currently Employed 11,140
    • Yearly Projected Openings 1,210
    Typical Education
    Personality
    Conventional: People interested in this work like activities that include data, detail, and regular routines. They do well at jobs that need:
    • Attention to Detail
    • Analytical Thinking
    • Integrity
    • Dependability
    • Persistence
    • Stress Tolerance
    Tools
    • Tablet computers
    • Personal digital assistant PDAs or organizers
    • Personal computers
    • Notebook computers
    • Desktop computers
    Technology
    • Project management software
    • Financial analysis software
    • Computer aided design CAD software
    • Analytical or scientific software
    • Accounting software
    Tags
    • InDemand occupations are considered a priority by the state of Ohio.
    • Bright Outlook occupations will grow rapidly in the next few years, have a large number of openings, or are new and emerging careers.