Cost engineering
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.
A cost engineer is a professional who, as a result of training and experience, is competent in the use and development of the principles of cost engineering.
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.
[edit] Related articles on Designing Buildings Wiki
- Accounting.
- Budget.
- Business plan.
- Commercial manager.
- Cost.
- Cost consultant.
- Cost plans.
- Cost control.
- Estimator.
- Expected market cost.
- Mixed economy.
- Pre-tender estimate.
- Quantity surveyor.
- Relevant cost.
- Whole-life costing.
[edit] External resources
Featured articles and news
Apprenticeships and the responsibility we share
Perspectives from the CIOB President as National Apprentice Week comes to a close.
The first line of defence against rain, wind and snow.
Building Safety recap January, 2026
What we missed at the end of last year, and at the start of this...
National Apprenticeship Week 2026, 9-15 Feb
Shining a light on the positive impacts for businesses, their apprentices and the wider economy alike.
Applications and benefits of acoustic flooring
From commercial to retail.
From solid to sprung and ribbed to raised.
Strengthening industry collaboration in Hong Kong
Hong Kong Institute of Construction and The Chartered Institute of Building sign Memorandum of Understanding.
A detailed description from the experts at Cornish Lime.
IHBC planning for growth with corporate plan development
Grow with the Institute by volunteering and CP25 consultation.
Connecting ambition and action for designers and specifiers.
Electrical skills gap deepens as apprenticeship starts fall despite surging demand says ECA.
Built environment bodies deepen joint action on EDI
B.E.Inclusive initiative agree next phase of joint equity, diversity and inclusion (EDI) action plan.
Recognising culture as key to sustainable economic growth
Creative UK Provocation paper: Culture as Growth Infrastructure.
Futurebuild and UK Construction Week London Unite
Creating the UK’s Built Environment Super Event and over 25 other key partnerships.
Welsh and Scottish 2026 elections
Manifestos for the built environment for upcoming same May day elections.
Advancing BIM education with a competency framework
“We don’t need people who can just draw in 3D. We need people who can think in data.”