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
  • Investment appraisal
  • Risk analysis

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

Why does it matter?

Cost engineering is extremely valuable to all industries and a key part of profitability for any business! For instance, the data that it provides makes decisions regarding projects’ budgets and timelines much easier. Moreover, this makes it an important universal skill and is relevant in a wide variety of industries that produce goods and services.

Cost Engineering at SPCEA

Our specialization is in the direct needs of professionals within the manufacturing industry. This skill set plays a huge role in creating lucrative products within the manufacturing industry. The 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.

Our team is passionate about increasing awareness and knowledge through valuable training courses and our Certified Product Cost Expert certification. We trust that this knowledge will lead to improved accuracy of cost estimates and better organizational cost control. Not only will this lead to higher levels of industry profitability for businesses, but increased career opportunities for individual professionals as well!

Our goal is to enhance the knowledge and experience of cost engineering professionals and educate individuals who are interested in growing their skills. The tools and resources we provide help you work on your craft and practice important career skills. You can extend your knowledge through our specialized training courses and our Certified Product Cost Expert certification that our experts designed specifically for you.