13 Key Attributes Cost Estimators Need To Succeed In Their Career

by Michael Davis

Sunday, January 3, 2016

Cost estimators prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. They may also specialize according to particular service performed or type of product manufactured.

The core tasks that cost estimators are likely to carry out include:

Consult with clients, vendors, personnel in other departments or construction foremen to discuss and formulate estimates and resolve issues.
Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.
Prepare estimates for use in selecting vendors or subcontractors.
Confer with engineers, architects, owners, contractors and subcontractors on changes and adjustments to cost estimates.
Prepare estimates used by management for purposes such as planning, organizing, and scheduling work.
Prepare cost and expenditure statements and other necessary documentation at regular intervals for the duration of the project.

In order to successfully forge ahead with their careers, analysts in a survey carried out by U.S. Department of Labor (via O*NET) have marked out the following as important attributes that cost estimators would need. These attributes have been selected from characteristics and requirements strongly associated with the occupation. They are

Abilities: Enduring attributes of the individual that influence performance
Interests: Preferences for work environments. Occupational Interest Profiles (OIPs) are compatible with Holland's (1985, 1997) model of personality types and work environments. Six interest categories are used to describe the work environment of occupations: Realistic, Investigative, Artistic, Social, Enterprising, and Conventional. An OIP consists of six numerical scores indicating how descriptive and characteristic each work environment (or interest area) is for an occupation
Knowledge: Organized sets of principles and facts applying in general domains
Skills: These include basic skills, which are developed capacities that facilitate learning or the more rapid acquisition of knowledge. Plus cross-functional skills, which are developed capacities that facilitate performance of activities that occur across jobs
Style: Personal characteristics that can affect how well someone performs a job

We have listed out attributes which were scored 80% or more in terms of importance by the analysts.

Being careful about detail and thorough in completing work tasks.
Attribute Type: Style Score: 95.8%

Being reliable, responsible, and dependable, and fulfilling obligations.
Attribute Type: Style Score: 90%

Analyzing information and using logic to address work-related issues and problems.
Attribute Type: Style Score: 90%

Being honest and ethical.
Attribute Type: Style Score: 88.6%

Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Attribute Type: Knowledge Score: 88.6%

Having a strong preference for enterprising work environments. Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
Attribute Type: Interests Score: 85.71%

Having a strong preference for conventional work environments. Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
Attribute Type: Interests Score: 85.71%

Accepting criticism and dealing calmly and effectively with high stress situations.
Attribute Type: Style Score: 83.6%

The ability to add, subtract, multiply, or divide quickly and correctly.
Attribute Type: Abilities Score: 82.4%

Persistence in the face of obstacles.
Attribute Type: Style Score: 80.8%

A willingness to take on responsibilities and challenges.
Attribute Type: Style Score: 80.8%

Being pleasant with others on the job and displaying a good-natured, cooperative attitude.
Attribute Type: Style Score: 80.8%

The ability to choose the right mathematical methods or formulas to solve a problem.
Attribute Type: Abilities Score: 80%