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Communicating verbal and written cost estimates to all project stakeholders is critical to the success of a CEP.
Becoming a qualified CEP demands a strong understanding of the dexterities and knowledge used to practice the profession.
Eligible cost estimators integrate their knowledge of cost elements, analysis, and other enabling knowledge throughout their estimating activities. According to AACE Recommended Practice 10S‐90 in Cost Engineering Terminology, the term “project cost estimator” defines: “Project cost estimators predict the cost of a project for a defined scope, to be completed at a defined location and point of time in the future. Cost estimators assist in the economic evaluation of potential projects by supporting the development of project budgets, project resource requirements, and value engineering. They also support project control by providing input to the cost control baseline. Estimators collect and analyze data on all factors that can affect project costs such as materials, equipment, labor, location, duration of the project, and other project requirements.”
As you can learn from the definition above, the CEP’s estimations are crucial to the effort of other cost engineering disciplines.
The cost estimation becomes the basis for the budget used in the project’s cost control. Also, it is best to use the project’s cost estimation for the economic evaluation. The forecasted measures are helpful for resource analysis in the project’s schedule.
Therefore, as part of supporting skills and knowledge, the professional project cost estimator must understand how other cost engineering disciplines may use their estimation. Hence, the definition of a cost estimator relates to the duties that the experienced estimating practitioner performs.
With these methods, you can calculate the cost of engineering involved in your projects.
The AACE International designed the Certified Estimating Professional (CEP) certification program to demonstrate certifications for the individuals working in the estimating field.
This certification program will allow professionals to validate their skills and knowledge and distinguish their ability with the proficiency and dexterities that impact their carrier’s bottom line.
With the validation of AACE’s CEP certification, exam, and experience, employers identify those who meet the program’s competency standards of an industry leader.
Recertification is required every 3 years by earned credits or exam.
The AACE’s Certified Estimating Professional examination is a closed book exam. You can use Any style of a battery-operated calculator. These are the CEP exams’ structure:
The Certified Estimating Professional course is a recommended program for all construction industry professionals, Project Managers, Engineers, Consultants, Cost Estimators, Controllers, Accountants, Quantity Surveyors, or anyone who leads, manages, or supports project planning and execution.