Estimating the cost of the project is the basic step in ensuring the successful implementation of the proposed plans of action for any project. Estimating manager responsibilities are significant in ensuring the growth and success of any organization. They are responsible for estimating the cost of the project and assist in determining the cost of the product or service that will be manufactured. They are most commonly found in the construction industries, manufacturing industries and the related service areas.
Key Responsibilities of an Estimating Manager
Estimating engineer helps in estimating the cost of the project after researching and gathering all the relevant details about the project. An estimating manager helps the company in giving high level services and ensures that the company progresses in the right direction. Let us have a look at the key responsibilities that need to be handled by an estimating manager:
In addition to the above responsibilities, he is also responsible for maintaining good, healthy, professional client relationships, and providing leadership for continuously improving the process for estimating. He analyses the estimates and identifies the anomalies and makes sure that their accuracies are verified. He oversees the estimating functions and activities related to the working of the estimation department. He confers with the engineers, architects, subcontractors, contractors, vendors, etc., on the adjustments or changes that need to be made in the cost estimates and helps in determining the feasibility of the project. He thoroughly researches the previous data related to subcontracts and purchase orders, etc., compiles the relevant reports, and helps in the development of guidelines for future estimates. He determines the scope of work and contents of the project estimate by preparing a list of bid quantities and items. He is responsible for calculating the statistical data, prices of various materials, labor cost, equipment, etc. He obtains quotations and is responsible for reviewing, analyzing, and recommending the subcontractors and vendors.
Essential Skills
An individual who is good at mathematics with strong analytical skills and attention to detail will definitely succeed in the field of estimation. He should possess the relevant technical knowledge and should be comfortable using various computer programs as he needs to deal with huge database. He should have excellent speaking and writing skills which are critical in maintaining good relationship with the clients and in documentation of various reports. Besides these, he should possess excellent time management and organization skills.
Educational Background
Individuals with a bachelor's degree in engineering, mathematics, statistics, construction management, or building science with relevant work experience would be preferred. Those with background in finance, accounting, or any other business related field may also get similar opportunities. Additional certification or internship experience would prove to be of great help.
Work Schedule
The work hours for an estimating manager generally last up to forty to forty five hours per week, Monday through Friday. Their work hours may extend in the evenings or late nights. Occasionally, they may need to travel and work on holidays and weekends.
Salary Details
The average annual salary for an estimating engineer is in the range of $60,000 to $63,000. It generally varies depending on the size and type of the employer, geographical location, experience and other relevant skills and academic background.
Career Prospects
The employment opportunities are definitely going to increase and there is a huge scope for development in the field of estimation. More and more companies are hiring estimating managers so as to get products and services that are cost effective.
Thus, you can definitely look forward to a rewarding career, if you are able to shoulder the estimating manager responsibilities successfully.