The Requirements of Becoming a Certified Estimating Professional

Communicating verbal and written cost estimates to all project stakeholders is critical to the success of a CEP. 

Becoming a qualified CEP demands a strong understanding of the dexterities and knowledge used to practice the profession. 

Eligible cost estimators integrate their knowledge of cost elements, analysis, and other enabling knowledge throughout their estimating activities. According to  AACE Recommended Practice 10S‐90 in Cost Engineering Terminology, the term “project cost estimator” defines: “Project cost estimators predict the cost of a project for a defined scope, to be completed at a defined location and point of time in the future. Cost estimators assist in the economic evaluation of potential projects by supporting the development of project budgets, project resource requirements, and value engineering. They also support project control by providing input to the cost control baseline. Estimators collect and analyze data on all factors that can affect project costs such as materials, equipment, labor, location, duration of the project, and other project requirements.” 

As you can learn from the definition above, the CEP’s estimations are crucial to the effort of other cost engineering disciplines. 

Why is Cost Estimation Important?

The cost estimation becomes the basis for the budget used in the project’s cost control. Also, it is best to use the project’s cost estimation for the economic evaluation. The forecasted measures are helpful for resource analysis in the project’s schedule. 

Therefore, as part of supporting skills and knowledge, the professional project cost estimator must understand how other cost engineering disciplines may use their estimation. Hence, the definition of a cost estimator relates to the duties that the experienced estimating practitioner performs.

What are the Benefits of the 3Targets CEP Course?

• Learning about the definitions of cost estimation, cost control, and cost planning with the ability to read cost engineering reports and put them in the project’s perspective.
• The knowledge to organize and assess estimations quicker and more accurately with the skills and knowledge of cost estimating.
• This knowledge will directly influence your control over the project’s cost.
• As a CEP specialist, you would be able to assemble and validate the projects’ estimation factors.
• In the 3Targets CEP course, you can learn how to identify significant cost risks of engineering. 
• We teach you how to manage suspense in your project through an adequate risk management plan.
• You will get familiar with contract management.
• With the 3Target’s CEP course, you gain in-depth knowledge of the Total Cost Management framework.
• You will gain a thorough knowledge of the mechanisms & procedures of cost estimating and control.
• Improving your project management skills with adequate planning and scheduling

With these methods, you can calculate the cost of engineering involved in your projects.

3Target’s Certified Estimating Professional Course Description:

The AACE International designed the Certified Estimating Professional (CEP) certification program to demonstrate certifications for the individuals working in the estimating field. 

This certification program will allow professionals to validate their skills and knowledge and distinguish their ability with the proficiency and dexterities that impact their carrier’s bottom line.

With the validation of AACE’s CEP certification, exam, and experience, employers identify those who meet the program’s competency standards of an industry leader.

The AACE CEP Eligibility Requirements:

• Eight years industry related experience or
• Four years industry pertaining experience + 4-year industry-related college degree (Related degrees include engineering, building construction, construction technology, business, economics, accounting, construction management, architecture, computer science, mathematics, etc.)
• Adherence to AACE’s Canons of Ethics

Recertification is required every 3 years by earned credits or exam.

Certified Estimating Professional Examination Structure:

The AACE’s Certified Estimating Professional examination is a closed book exam. You can use Any style of a battery-operated calculator. These are the CEP exams’ structure:

• 5 hours maximum
• 119 simple, multiple-choice, and compound scenario questions
  • Domains: Basic Estimating Knowledge, Complex Estimating Problems, and Estimating Process & Practices
• One writing assignment with a given scenario and instructions for registering a response in an onscreen text box