ERHC Energy Inc (ERHE)

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Cost engineering
From Wikipedia, the free encyclopedia

"Cost engineering [is] the engineering practice devoted to the management of project cost, involving such activities as cost- and control- estimating, which is cost control and cost forecasting, investment appraisal, and risk analysis."[1] "Cost Engineers budget, plan and monitor investment projects. They seek the optimum balance between cost, quality and time requirements."[2]

Skills and knowledge of Cost Engineers are similar to those of Quantity Surveyors.

A cost engineer is "an engineer whose judgment and experience are utilized in the application of scientific principles and techniques to problems of estimation; cost control; business planning and management science; profitability analysis; project management; and planning and scheduling