Profession manufacturing cost estimator

Manufacturing cost estimators collect and analyse data to evaluate the money, materials, labour and time required for manufacturing processes. They conduct analyses to identify (alternative) cost effective technical designs and production processes. They develop and use methods and tools for cost planning, controlling and analysis. They also perform quantitative and qualitative risk analyses and report on the development of costs.

Personality Type

• Conventional / Enterprising
• Investigative / Enterprising

Knowledge

• Manufacturing processes

  The steps required through which a material is transformed into a product, its development and full-scale manufacturing.

• Cost management

  The process of planning, monitoring and adjusting the expenses and revenues of a business in order to achieve cost efficiency and capability.

• Mathematics

  Mathematics is the study of topics such as quantity, structure, space, and change. It involves the identification of patterns and formulating new conjectures based on them. Mathematicians strive to prove the truth or falsity of these conjectures. There are many fields of mathematics, some of which are widely used for practical applications.

Skills

• Provide cost benefit analysis reports

  Prepare, compile and communicate reports with broken down cost analysis on the proposal and budget plans of the company. Analyse the financial or social costs and benefits of a project or investment in advance over a given period of time.

• Execute analytical mathematical calculations

  Apply mathematical methods and make use of calculation technologies in order to perform analyses and devise solutions to specific problems.

• Assess financial viability

  Revise and analyse financial information and requirements of projects such as their budget appraisal, expected turnover, and risk assessment for determining the benefits and costs of the project. Assess if the agreement or project will redeem its investment, and whether the potential profit is worth the financial risk.

Optional knowledge and skills

Source: Sisyphus ODB