Cost engineering (as is the case with all engineering disciplines) requires a broad background in mathematical and engineering
sciences such as algebra, statistics, probability, and operations research, in addition to keeping up with technology, methods for forecasting its future, and understanding the product life cycle. Despite the importance of these skills, the most important are the skills based on understanding accounting principles, such as estimating the cost of the product, the cost of work (labor), and direct materials, in addition to economic and financial principles such as inflation and currency rates. All of these sciences form a strong base for the cost engineer that makes him able to analyze the situation, understand the project requirements, and then choose the tools necessary to solve them to achieve the goal of the project while constantly monitoring cost variables
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