Noun
/kɔst ˈɛstəˌmeɪtɪŋ/
"Cost estimating" refers to the process of predicting the costs associated with a project or operation. This term is commonly used in fields such as construction, engineering, and project management. It involves assessing various factors, such as materials, labor, and time, to develop an accurate budget for a project. In terms of frequency, "cost estimating" is predominantly used in written contexts, particularly in reports, proposals, and budgets, though it can appear in oral communication during discussions regarding project planning.
Example Sentences:
1. The architect submitted his cost estimating report before the project began.
El arquitecto presentó su informe de estimación de costos antes de que comenzara el proyecto.
Effective cost estimating is crucial for the success of any business venture.
Una estimación de costos efectiva es crucial para el éxito de cualquier empresa.
She is taking a course on cost estimating to improve her skills in project management.
Ella está tomando un curso sobre estimación de costos para mejorar sus habilidades en gestión de proyectos.
While "cost estimating" itself may not be commonly featured in idiomatic expressions, related terms can be:
Cutting costs
The company has been cutting costs to improve its profitability.
La empresa ha estado recortando costos para mejorar su rentabilidad.
Cost an arm and a leg
His new car cost an arm and a leg, but he loves it.
Su nuevo coche costó un ojo de la cara, pero le encanta.
Get the most bang for your buck
We need to get the most bang for our buck with this cost estimating method.
Necesitamos obtener el mayor provecho de este método de estimación de costos.
The term "cost" originates from the Latin word "constare," meaning "to stand firm" or "to cost," while "estimate" comes from the Latin "aestimare," meaning "to value." The combination of these words illustrates the process of valuing the expenses involved in a project.
In summary, "cost estimating" plays a crucial role in project management and planning, influencing business decisions and outcomes.