Best Business Career Paths Guide – Salary and Earning Potential | UniversityHQ

Cost Estimator

Another position available to BBA graduates is that of a cost estimator. Estimators collect and analyze a variety of data. They dissect all aspects of a project from start to finish. Time, money, materials, and labor are all required to construct any structure, manufacture any product, or provide any service.

Because of the varied requirements from industry to industry, estimators normally specialize. When assessing a project, the cost estimator will identify and calculate cost factors. For construction projects, the estimator will travel to a job site and read blueprints and technical documents to gather pertinent information to estimate detailed cost analyses. Construction cost estimators must interact with engineers, architects, contractors, and clients.

The estimator must prepare accurate cost estimates, as requested, for each project from start to finish. After that, an estimator may recommend more cost-effective processes. By collaborating with sales managers and other key players a bid is often prepared to present to a client.

Under-bidding can bankrupt a company quickly. Accurately estimating costs and time frames are vital to the bidding and production schedules. Estimates must include the possibility of unforeseen circumstances including weather issues and shipping delays along with any material waste.

When tackling a complex project, costs from past projects can be very helpful. By using databases to store past information, cost estimates are available for future projects. Because of this, cost estimators must extremely be computer literate.

New hires commonly receive industry-specific training, but previous experience, especially with cost estimating software, is a great asset. With the importance of accurate cost estimating, employers prefer candidates with degrees. If planning to become a cost estimator, a BBA with a focus on your industry of choice is recommended. Coursework in construction management or engineering, along with database management, will help ensure employment.