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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.

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    Work Activities

    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.
    • Conduct special studies to develop and establish standard hour and related cost data or to reduce cost.

    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 64320/yr
    • Typical Salary
    • Ohio Hourly Wage 30.92/hr
    • Typical Hourly Wage

    Ohio Employment Trends

    • Currently Employed 10,150
    • Yearly Projected Openings 1,110

    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

    • Scanners
    • 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.

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    Workforce Supply Tool

    Workforce Supply Tool

    The Workforce Supply Tool provides statistics for the occupations in highest demand throughout Ohio.

    You can view statewide statistics as well as more region specific information.

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