What is Cost Engineering

What is Cost Engineering?

Cost engineering is the practice devoted to the management of project costs. This includes…

  • Estimating
  • Cost modeling
  • Cost control
  • Cost optimization
  • Cost forecasting
  • Cost management
  • Investment appraisal
  • Risk analysis

The field of study may also be called “design to cost.” In simpler terms, it is the practice of engineering companies’ products to meet predefined cost requirements.

What is Cost Engineering

Why does it matter?

Cost engineering is valuable to all industries and plays a key role in the profitability of any business! The data it provides makes decisions regarding projects’ budgets and timelines easier to understand. Moreover, it is an important universal skill and is relevant in a wide variety of industries that produces goods and services. Some of the biggest companies in the world, like GM, use cost engineering on a daily basis.

What is Cost Engineering?

Cost Engineering at SPCEA

SPCEA’s specialization relates to the direct needs of professionals within the manufacturing industry. This skill set plays a vital role in creating cost-effective products within the manufacturing industry. Manufacturing costs must be less than the model of added value to ensure profitable success for manufacturing. Therefore, we focus heavily on analytics in the manufacturing of products.

We are passionate about increasing awareness and knowledge through training courses and our CPCE certification. Enhanced knowledge leads to improved accuracy of cost estimates and better organizational cost control. This advances higher levels of industry profitability for businesses, as well as increased career opportunities for professionals!

Our goal is to strengthen the knowledge and experience of cost engineering professionals. We aim to educate those who are interested in growing their skills.

The tools and resources we offer allow you to work on your craft and practice important career skills. They extend your knowledge. As a matter of fact, our Certified Product Cost Expert certification was designed by experts specifically for your advancement.