Ceramics, Physics, Maths electrical design estimating and costing pdf many more to come. Do you want to advertise on this Website? A cost estimate is the approximation of the cost of a program, project, or operation.
The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate.
A cost estimator is the professional who prepares cost estimates. There are different types of cost estimators, whose title may be preceded by a modifier, such as building estimator, or electrical estimator, or chief estimator. Other professional titles may also prepare cost estimates or contribute to cost estimates, such as quantity surveyors, cost engineers, etc.
In the US, there were 185,400 cost estimators in 2010. There are around 75,000 professional quantity surveyors working in the UK. The GAO reports that “realistic cost estimating was imperative when making wise decisions in acquiring new systems.