Estimating Sheets

 
 
 

Top most criteria for becoming a cost estimator

A bachelor's degree is essential for being a successful cost estimator. In some cases, some well experienced construction workers having analytical abilities may also perform as a cost estimator without a bachelor's degree.

Education and Training: Generally a major portion of employers like to select candidates containing a bachelor's degree in an industry-specific field like construction management or building science. A sound knowledge in mathematics is very much required.

Those who take an interest in estimating manufacturing costs usually require a bachelor's degree in engineering, physical sciences, mathematics, or statistics. The candidates having sound knowledge in business-related disciplines which may range from accounting, finance, business, or economics, will get added advantages.

Newly appointed estimators often gain experience with the industry by working under the guidance of a more knowledgeable cost estimator. This on-the-job training may may continue from various months to a few years, depending on the employer. Each company maintain their own way of dealing with estimates, and cost estimators can gather a huge knowledge by following their employers' methods of estimating costs.

 

Before starting a career in cost estimating, one has to achieve related experience in an industry. As for instance, construction cost estimators should be well versed with the construction industry. People having a desire in cost estimating can acquire knowledge through internships, cooperative education programs, or industry-related jobs.

Certification: Voluntary certification can help in getting proficiency and experience in the field. In some cases, employers may verify with professional certification prior to hire any candidate. TheAmerican Society of Professional Estimators, the Association for the Advancement of Cost Estimating International (also known as AACE International), and the Society of Cost Estimating and Analysis each provide a wide range of certification programs.

To become certified, estimators generally must have at least two years of estimating experience and must pass a written exam. Besides, some certification requirements may include publishing at least one article or paper in the field.

Important Qualities

Analytical skills: Accurately evaluating detailed specifications is crucial to a cost estimator's success. For example, a cost estimator must determine how to minimize costs without sacrificing quality.

Critical-thinking skills: Cost estimators must identify the strengths and weaknesses of potential strategies, especially when considering profitability. Information critical to a product's cost is not always straightforward, so estimators must devise creative ways to assess it.

Detail oriented: Cost estimators must pay attention to small details because they may have a large impact on a product's overall cost.

Speaking skills: Cost estimators must have good speaking skills because they often discuss complex product information with other industry specialists. They must also present and defend their estimates and recommendations in a clear and convincing way.

Technical skills: Detailed knowledge of industry processes, materials, and costs are vital to estimators. In addition, they should be able to use sophisticated computer programs to calculate equations and handle large databases.

Time-management skills: Because cost estimators often work on fixed deadlines, they must plan their work in advance and do their tasks efficiently and accurately.

Writing skills: Cost estimators must be able to write detailed reports. Often, these reports determine whether or not contracts are awarded or products are manufactured.

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