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Cost engineer skills for your resume and career

Updated January 8, 2025

5 min read

Quoted experts

Charles Jenckes,

Chris P. Caddell

Below we've compiled a list of the most critical cost engineer skills. We ranked the top skills for cost engineers based on the percentage of resumes they appeared on. For example, 8.5% of cost engineer resumes contained project management as a skill. Continue reading to find out what skills a cost engineer needs to be successful in the workplace.

15 cost engineer skills for your resume and career

1. Project Management

Here's how cost engineers use project management:

Participated in monthly Project Management meetings with Project Managers and Cost Engineers providing any necessary support and documentation as needed.
Customized a project management system to improve efficiency of invoice confirmations and tracking of labor expenses.

2. Cost Analysis

Cost analysis, also known as cost-benefit analysis, refers to analyzing how a company's money is used, whether this is expenses of the company itself or the cost of the current production method. This method also takes the number of products sold into consideration to determine whether the manufacturing process is benefiting or harming the company's profits.

Here's how cost engineers use cost analysis:

Validated cost information submitted by different departments for customers quotations then performed cost analysis to ensure the most accurate cost projection.
Develop and utilize competitive component and/or system cost analysis to recommend robust cost effective solutions.

3. Construction Management

Here's how cost engineers use construction management:

Advanced level of knowledge in engineering and construction management customarily acquired over time through specialized instruction or practical experience.
Lead department work stream which resulted in the development of a Construction Management/Administration program.

4. Project Controls

Project control is a vital part of the operations of a business or organization. It covers all plans, strategies, resources, and tools required for the control and management of a project's operation.

Here's how cost engineers use project controls:

Worked closely with Eastman Project Controls on multiple divisions in developing accurate estimates to complete.
Formulated project controls requirements in contract documents to ensure owner requirements and risks were mitigated.

5. Cost Data

Cost data refer to the information collected about operating expenses, which is then used to determine the price of products, the gross margin of a company, and how an asset of the company is valued. Using the cost data collected over a number of years allows a company to project the company's future income and, based on this income, future operating decisions.

Here's how cost engineers use cost data:

Ensured the collected cost data was meticulously analyzed from all facets of collections before presenting to Project Manager for daily presentations.
Analyzed cost data, researched data and proposed product specifications to determine feasibility of product proposal.

6. Cost Models

Cost models are simple formulas, equations, or functions that help quantify, measure, and estimate the time, effort, and economic outcomes of executing a project.

Here's how cost engineers use cost models:

Developed cost models using activity based and other costing methods to ensure accurate cost estimates.
Develop cost models using activity based costing methods and communicate estimates to all levels.

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7. Cost Estimates

Here's how cost engineers use cost estimates:

Managed the contract modifications process, including reviewing design revisions, preparing independent cost estimates, and negotiating subcontractor change orders.
Reviewed operating and capital cost estimates used in bankable feasibility studies for potential new mine construction, development and operation.

8. Construction Projects

A construction project is an organized process of constructing, redeveloping, renovating, or otherwise improving a building, or structure. The project phase begins usually as a broad criterion that is then made with the help of a brief, feasibility analysis, funding, and planning. The majority of construction projects are one-time jobs.

Here's how cost engineers use construction projects:

Maintained historical records of past construction projects to support/assist the provision of budgetary data for the preparation of new projects/proposals.
Associate contractor managing project Cost Controls for multiple global data center construction projects within the Microsoft Data Center Development program.

9. Cost Control

Cost control is a process in which actual costs are recorded and incorporated into a format that allows comparison with project budgets to regulate and control operating costs within an organization. The goal of cost control is to manage project delivery within the approved budget and reduce expenses to increase profits.

Here's how cost engineers use cost control:

Developed structures for payment verification and approval; established, organized and implemented cost controls, budgets and reporting.
Design and implementation of project cost controls, analysis and cost-projections/recovery plans on critical areas of construction.

10. Cost Reduction

Here's how cost engineers use cost reduction:

Cost reduction opportunities were realized in process modifications, supply chain improvements and implementation of plans to consolidate division resources.
Initiated cost reductions and also performed preliminary product feasibility studies for new and existing products.

11. Design Changes

Here's how cost engineers use design changes:

Provided direction for all required field design changes and resulting change orders.
Retrieve parts to create Bill of Materials (BOMs) and verify all parts are accurate per design changes.

12. Cost Management

Here's how cost engineers use cost management:

Develop professional proficiency in the delivery of cost management services by providing professional support to oversight all aspects of cost.
Developed & evaluated standard operating procedure for project cost management specific to the company.

13. Project Budget

A project budget is a tool used by project heads and project managers to estimate the total cost of a project. It can be defined as the financial and personnel disposal limits that are needed to be imposed before the execution of the project.

Here's how cost engineers use project budget:

Performed variance analysis against project budget, estimate final impact and recommend corrective actions.
Maintained baseline budget and modification amounts for integration into master project budget.

14. Primavera

Primavera is a business project portfolio administration software. It includes risk analysis, project management, scheduling, opportunity management, collaboration, resource management, and control capabilities. It integrates seamlessly with other business software such as Oracle and SAP's ERP systems. Primavera has been targeted to effectively compromise digital business assets through fixable software security flaws.

Here's how cost engineers use primavera:

Prepared engineering and construction schedules using both Primavera 6 and Microsoft Project.
Task form and data needed for producing CPM networks, schedules and monitoring progress charts (primavera software application).

15. BOM

BOM stands for a bill of materials in design drafting. This list outlines the raw materials, instructions, and components required to manufacture or construct a product or service.

Here's how cost engineers use bom:

Create indented BOM's, Estimate piece parts per commodity models above, and pull in piece part estimates into BOM.
Set up production routing, BOM in E2 for production.

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What skills help Cost Engineers find jobs?

Tell us what job you are looking for, we’ll show you what skills employers want.

What skills stand out on cost engineer resumes?

Charles Jenckes

Assistant Professor, University of North Carolina at Charlotte

For new graduates
1.Where the candidate went to school and what was studied
2.GPA
3.Any successful internships
4.Projects completed by the student

What type of skills will young cost engineers need?

Chris P. Caddell

Board President, AACEI

I anticipate the basic technical skills will largely be the same as today. However, I expect graduates will need greater familiarity with configuring software. This skill will be moving from an IT-exclusive capability to a useful skill that new graduates will need. From a softer skills perspective, young graduates will need to be self-motivated, self-aware, and outspoken. As our world moves to more remote working, graduates will need to be self-motivated because there may be no one (physically) there to push them. They will need to be self-aware of when they are struggling and need help. And they will need to be outspoken about asking for help when they need it and making sure they make their voices heard.

Do you want to know more?

List of cost engineer skills to add to your resume

The most important skills for a cost engineer resume and required skills for a cost engineer to have include:

Project Management
Cost Analysis
Construction Management
Project Controls
Cost Data
Cost Models
Cost Estimates
Construction Projects
Cost Control
Cost Reduction
Design Changes
Cost Management
Project Budget
Primavera
BOM
Work Breakdown Structure

Purchase Orders
Corrective Action
Cash Flow
Project Scope
WBS
Commodities
P6
Manage Change
Monte Carlo Simulation
Contract Terms
Accruals
Management System
Regression
Value Analysis
Financial Reports
Project Cost

EPC
HVAC
Cost Savings
Capital Projects
Material Costs
Earned Value Management
Risk Analysis
Management Process
Cpm
Autocad
EAC
Business Development
Extrusion
Refinery
Financial Analysis

Updated January 8, 2025

Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

Updated January 8, 2025

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