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PipelineNC Career Profile for

Cost Estimators

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Overview_b
Career Description
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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NC Salary
$34,360
$54,360
$80,010



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What It Takes
Required Level of Education - Bachelor's Degree
Related Work Experience - Over 2 years, up to and including 4 years
On-Site or In-Plant Training - Over 3 months, up to and including 6 months
On-Site or In-Plant Training - Over 1 month, up to and including 3 months
On-the-Job Training - Over 6 months, up to and including 1 year


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Did You Know?
  • About 62 percent of cost estimators work in the construction industry, and another 15 percent are employed in manufacturing industries.
  • Voluntary certification can be valuable to cost estimators; some individual employers may require professional certification for employment.
  • Very good employment opportunities are expected.
  • In construction and manufacturing, job prospects should be best for those with industry work experience and a bachelor’s degree in a related field.
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Sample Tasks

  • Consult with clients, vendors, personnel in other departments or construction foremen to discuss and formulate estimates and resolve issues.
  • Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.
  • Prepare estimates for use in selecting vendors or subcontractors.
  • Confer with engineers, architects, owners, contractors and subcontractors on changes and adjustments to cost estimates.
  • Prepare estimates used by management for purposes such as planning, organizing, and scheduling work.
  • Prepare cost and expenditure statements and other necessary documentation at regular intervals for the duration of the project.
  • Assess cost effectiveness of products, projects or services, tracking actual costs relative to bids as the project develops.
  • Set up cost monitoring and reporting systems and procedures.
  • Conduct special studies to develop and establish standard hour and related cost data or to effect cost reduction.
  • Review material and labor requirements to decide whether it is more cost-effective to produce or purchase components.

Knowledge

Mathematics
Importance: StarStarStarStar
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

Engineering and Technology
Importance: StarStar
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
Importance: StarStar
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
Importance: StarStar
Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.

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

Abilities

Number Facility
Importance: StarStarStar
The ability to add, subtract, multiply, or divide quickly and correctly.

Mathematical Reasoning
Importance: StarStarStar
The ability to choose the right mathematical methods or formulas to solve a problem.

Oral Comprehension
Importance: StarStar
The ability to listen to and understand information and ideas presented through spoken words and sentences.

Oral Expression
Importance: StarStar
The ability to communicate information and ideas in speaking so others will understand.

Written Comprehension
Importance: StarStar
The ability to read and understand information and ideas presented in writing.

Work Styles

Attention to Detail - Job requires being careful about detail and thorough in completing work tasks.
Analytical Thinking - Job requires analyzing information and using logic to address work-related issues and problems.
Dependability - Job requires being reliable, responsible, and dependable, and fulfilling obligations.
Integrity - Job requires being honest and ethical.
Stress Tolerance - Job requires accepting criticism and dealing calmly and effectively with high stress situations.
Cooperation - Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
Persistence - Job requires persistence in the face of obstacles.
Initiative - Job requires a willingness to take on responsibilities and challenges.
Achievement/Effort - Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
Independence - Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.

ASSESS YOUR JOB SKILLS FOR THIS CAREER PATH

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Listed below are the skills that are necessary for this career path. To select which skills you have, log in.

Skill Category: Getting Information

Importance: StarStarStarStarStar



Skill Category: Interacting With Computers

Importance: StarStarStarStarStar



Skill Category: Estimating the Quantifiable Characteristics of Products, Events, or Information

Importance: StarStarStarStar






Skill Category: Analyzing Data or Information

Importance: StarStarStarStar





Skill Category: Communicating with Supervisors, Peers, or Subordinates

Importance: StarStarStarStar


National Data Source: Bureau of Labor Statistics, Office of Occupational Statistics and Employment Projections
State Data Source: The Employment Security Commission of North Carolina