Cost engineering is the practice of managing the costs involved on a construction project. This includes activities such as cost control, budgeting, forecasting, estimating, investment appraisal and risk analysis. While cost engineering relates more to engineering projects and processes, it can also be used as a broad term for the responsibilities of different roles, including:
The primary aim of cost engineering is to achieve the ideal balance between the price, quality and time obligations of a project.
Those responsible for cost engineering are typically concerned with the relationships between the physical and cost components of what is being designed.
Cost engineers can be employed as consultants to manage and/or assess the costs of a project or organisation. They may be consulted before a project begins, or before a tender is submitted, so that budgets can be assessed and forecasts made.
 Related articles on Designing Buildings Wiki
- Business plan.
- Commercial manager.
- Cost consultant.
- Cost plans.
- Cost control.
- Pre-tender estimate.
- Quantity surveyor.
- Whole-life costing.
 External resources
Featured articles and news
Green paper published for consultation.
Mental health issues effect 80% of construction workers. Read our interview with the founders of a new wellbeing initiative.
Would Stephenson be disappointed by the lack of progress on the high speed transport of Hyperloop?
The immersive pop-up cinema experience that could revolutionise on-site health and safety training.
5 out of 10 filtering facepieces fail HSE tests.
Eleven Magazine announce the winner and runners-up in their Moontopia competition.
As January is the time for hitting the gym, Designing Buildings Wiki lists the best gym architecture in the world.
London is at the top of the list of global construction megacities, beating Dubai and Abu Dhabi.
What are the innovative business models of the future, and how to incentivise supply chains to work on a whole life basis?