👉 Engineering costs encompass all expenses incurred during the design, development, testing, and implementation of engineering projects or systems. These costs include direct expenses like labor, materials, equipment, and software, as well as indirect costs such as overheads, administrative expenses, and contingency funds for unforeseen challenges. Additionally, engineering costs may involve ongoing maintenance and operational expenses post-implementation. Accurately estimating these costs is crucial for project feasibility, budgeting, and ensuring the financial viability of engineering endeavors.
