👉 Cost engineering is a systematic approach to estimating, analyzing, and controlling the costs associated with a project or process. It involves identifying all potential cost drivers, developing detailed cost models, and performing sensitivity analyses to understand how changes in variables can impact overall costs. Cost engineers use this information to optimize designs, select cost-effective materials and processes, and ensure that projects stay within budget constraints. By integrating cost considerations early in the design phase, cost engineering helps prevent cost overruns, improves project feasibility, and enhances overall value for money.
