Top 10 Cost Engineer Certifications

Certifications are an important part of a cost engineer’s job market, as they provide proof to potential employers that the individual has the knowledge and experience required to perform their job effectively. Certifications also demonstrate a commitment to professional development and continuing education, which can be extremely beneficial in a competitive job market. Additionally, certifications often come with access to industry-specific resources and networks, which can be invaluable for networking and finding new opportunities. Finally, certifications can help build a cost engineer’s credibility within their field by demonstrating their expertise to employers, colleagues, and clients alike.

This article reviews some of the top certifications for Cost Engineers and explains how they can help propel a Cost Engineer's career.

What are Cost Engineer Certifications?

Cost engineer certification is a type of professional certification that helps individuals demonstrate their knowledge and proficiency in cost engineering. Cost engineers are responsible for analyzing the costs associated with projects, determining project schedules, and providing financial advice to clients. The certification is offered by several organizations, including the Association for the Advancement of Cost Engineering International (AACEI) and the American Society of Professional Estimators (ASPE).

Cost engineer certification can help individuals advance their career in cost engineering by validating their expertise and providing proof of their qualifications. It also helps employers identify qualified candidates for positions in cost engineering. The certification can also provide access to continuing education opportunities, industry connections, and resources to stay up-to-date on best practices in cost engineering. Additionally, it can help organizations ensure compliance with industry standards as well as increase overall efficiency by having certified professionals on staff.

Pro tip: When pursuing cost engineer certification, make sure to focus on the key areas of cost estimating, cost management, and risk management. Studying for the certification can be a daunting task, but focusing on these key areas will help ensure that you are well-prepared for the exam.

Related: What does a Cost Engineer do?

Top 10 Cost Engineer Certifications

Here’s our list of the best certifications available to Cost Engineers today.

1. Certified Cost Engineer (CCE)

Certified Cost Engineer (CCE) is a certification program designed to recognize the professional qualifications of cost engineers. It is offered by the American Academy of Project Management (AAPM). The CCE certification is a mark of excellence and serves as an assurance that the individual has achieved a certain level of knowledge and expertise in cost engineering.

The CCE certification requires successful completion of the AAPM's Cost Engineering Certification Program, which consists of three courses: Fundamentals of Cost Engineering, Advanced Cost Engineering, and Professional Practices. The program takes approximately one year to complete, depending on the individual's prior experience and knowledge.

To obtain the CCE certification, applicants must meet certain prerequisites including having at least five years' experience in cost engineering or related fields such as project management or construction management. Applicants must also pass all three courses with a minimum score of 70%.

The cost for obtaining the CCE certification varies depending on the individual's circumstances but typically ranges from $2,500 to $4,000. This includes registration fees for each course as well as any additional materials required for study.

2. Certified Professional Cost Estimator/Analyst (CPCEA)

Certified Professional Cost Estimator/Analyst (CPCEA) is a professional certification program offered by the Association for the Advancement of Cost Engineering International (AACEI). The CPCEA program is designed to recognize and promote the highest standards of professional cost estimating and analysis. It is an internationally recognized certification program that provides recognition to individuals who have demonstrated knowledge, experience, and proficiency in cost estimating and analysis.

It typically takes between one to two years to complete the certification process. To become certified, applicants must pass a four-part exam that covers topics such as cost estimation principles, cost analysis techniques, project management principles, and risk management principles. Applicants must also demonstrate at least five years of relevant work experience in order to qualify for the CPCEA certification.

The cost of obtaining the CPCEA certification varies depending on your country or region. In the United States, it costs $495 USD to register for the exam plus an additional $95 USD for each part of the exam you take. In Canada, it costs $595 CAD to register for the exam plus an additional $95 CAD for each part of the exam you take.

In addition to taking and passing the four-part exam, applicants must also submit a portfolio demonstrating their expertise in cost estimating and analysis. The portfolio should include examples of past projects completed as well as any other relevant documents that demonstrate your knowledge and proficiency in this field.

Once all requirements are met, applicants will receive their CPCEA certification from AACEI upon successful completion of all requirements including passing all parts of the exam with a score of 70% or higher.

3. Certified Professional Constructor (CPC)

Certified Professional Constructor (CPC) is a professional certification program offered by the American Institute of Constructors (AIC). It is designed to recognize individuals who have achieved a high level of knowledge and experience in the construction industry.

The CPC certification program consists of two parts: an application process and an examination. The application process includes submitting a detailed resume, providing references, and completing an online questionnaire about your work history and experience in the construction industry. Once you have been accepted into the program, you will be required to take the CPC Examination.

The CPC Examination is administered twice per year at various locations across the United States. It consists of 200 multiple-choice questions that cover topics such as project management, contract administration, safety management, cost estimation, scheduling, and quality control. You must pass this exam with a score of 70% or higher in order to receive your CPC certification.

The cost for taking the CPC Exam varies depending on where you take it and when you register for it. Generally speaking, it costs around $400-$600 to take the exam. Additionally, there may be additional fees associated with obtaining your CPC certification such as membership dues and/or continuing education credits.

It typically takes about 6-12 months to complete all of the requirements for obtaining your CPC certification once you have applied for it. This includes taking and passing the exam as well as fulfilling any other necessary requirements such as submitting references or paying membership dues.

4. American Society of Professional Estimators (ASPE) Certification

The American Society of Professional Estimators (ASPE) Certification is a professional certification program designed to recognize the knowledge and skills of estimators in the construction industry. The certification program is open to all individuals who have at least five years of experience in the construction estimating field.

To obtain ASPE certification, applicants must pass a comprehensive exam that covers topics such as cost estimating, project management, and risk management. The exam consists of multiple-choice questions and requires a minimum score of 70% to pass. The exam can be taken at any approved testing center or online through ASPE's website.

The ASPE certification process typically takes between 6-12 months to complete depending on the applicant's level of experience and knowledge. Applicants must submit an application form along with their resume and proof of experience in the construction estimating field prior to taking the exam.

The cost for obtaining ASPE certification varies depending on the type of membership chosen by the applicant. For non-members, the cost is $395 USD, while members receive discounted rates ranging from $295-$345 USD depending on their membership level.

5. Project Management Institute's (PMI) PMP Certification

The Project Management Institute’s (PMI) PMP Certification is a globally recognized professional certification for project managers. It is designed to demonstrate the knowledge, skills, and abilities required to successfully manage projects of any size or complexity. The PMP Certification is awarded by PMI after an individual has met certain educational and experience requirements and passed an exam.

To get the PMP Certification, you must meet certain eligibility requirements that include having a minimum of three years of project management experience and 4500 hours leading and directing projects, as well as 35 hours of project management education. You must also pass the PMP Exam which consists of 200 multiple-choice questions that cover five process groups: Initiating, Planning, Executing, Monitoring & Controlling, and Closing.

It typically takes about 6-12 months to prepare for the exam depending on your level of experience and how much time you can dedicate to studying. You can prepare for the exam by taking online courses or attending in-person classes offered by PMI chapters or other organizations.

The cost for the PMP Certification varies depending on whether you are a member of PMI or not. For non-members it costs $555 while members pay only $405. Additionally there may be additional costs associated with preparing for the exam such as books or course fees if you choose to take a class.

6. Association for the Advancement of Cost Engineering International (AACEI) Certification

The Association for the Advancement of Cost Engineering International (AACEI) Certification is a professional certification program that recognizes and validates an individual’s knowledge, skills, and experience in cost engineering. It is designed to provide assurance to employers, clients, and other industry professionals that the certified individual has achieved a high level of competency in their field.

It typically takes between six months and one year to complete all of the requirements for AACEI Certification. The process begins with submitting an application form along with supporting documentation such as transcripts, resumes, and letters of recommendation. Once the application is approved, applicants must pass three exams: a written exam on cost engineering principles; a project management exam; and a business practices exam. Applicants must also submit proof of at least four years of professional experience in cost engineering or related fields.

The cost for AACEI Certification varies depending on the type of certification sought. For example, the Certified Cost Professional (CCP) certification costs $500 USD while the Certified Cost Estimator/Analyst (CCEA) certification costs $750 USD. In addition to these fees, there are additional fees associated with taking each exam ($200 USD per exam).

Once applicants have completed all requirements for AACEI Certification, they will receive a certificate verifying their status as a certified cost engineer or analyst. This certificate can be used to demonstrate expertise in cost engineering to employers and clients alike.

7. Construction Financial Management Association's (CFMA) Certified Construction Industry Financial Professional (CCIFP)

The Certified Construction Industry Financial Professional (CCIFP) is a professional certification offered by the Construction Financial Management Association (CFMA). It is designed to recognize individuals who have achieved a high level of expertise in the areas of construction financial management, including accounting, auditing, taxation, and financial analysis.

To become a CCIFP, an individual must demonstrate knowledge and experience in the field of construction financial management. This includes passing an examination that covers topics such as budgeting and forecasting, contract administration, lien law compliance, and project cost control. The exam also requires applicants to demonstrate their understanding of industry-specific accounting principles and practices.

The entire process typically takes between two to three months to complete. The first step is to apply for the certification through CFMA’s website by filling out an application form and paying the required fee. After submitting the application form, applicants will receive instructions on how to register for the exam. Once registered for the exam, applicants can begin studying for it using materials provided by CFMA or other sources.

Once all study materials have been reviewed and applicants feel prepared for the exam, they can take it at a designated testing center near them or online. Once completed, results are typically available within two weeks from taking the test. If successful in passing the exam, applicants are then awarded with their CCIFP certification from CFMA.

The cost of obtaining this certification varies depending on whether you are a member or non-member of CFMA; members pay $395 while non-members pay $595 plus applicable taxes.

8. National Institute of Building Sciences' Certified Construction Manager (CCM)

The Certified Construction Manager (CCM) is a professional certification program offered by the National Institute of Building Sciences (NIBS). The CCM is an internationally recognized credential that verifies a construction manager’s commitment to professional excellence and ethical business practices. To become certified, applicants must demonstrate their knowledge, experience, and expertise in the construction management field through a rigorous examination process.

It typically takes between six months and one year to complete the application process for the CCM. Applicants must meet certain eligibility requirements such as having at least three years of full-time construction management experience within the past 10 years or five years of part-time experience within the past 10 years. Applicants must also submit an application form, provide references, and pay a fee. Once accepted into the program, applicants must pass an exam which covers topics such as project delivery systems, risk management, contracts and agreements, cost estimating and control, scheduling and planning, safety management, legal aspects of construction management, quality assurance/quality control processes, dispute resolution methods, leadership skills for managing people on projects.

The cost of applying for the CCM varies depending on whether you are a member of NIBS or not. For non-members it costs $600 to apply plus $450 for each additional certification attempt if needed. For members it costs $400 to apply plus $300 for each additional certification attempt if needed.

9. Institute for Supply Management's Certified Professional in Supply Management (CPSM)

The Certified Professional in Supply Management (CPSM) is a certification program offered by the Institute for Supply Management (ISM). The CPSM certification is designed to recognize professionals who have achieved mastery in the field of supply management. It is intended to demonstrate an individual's knowledge and experience in the areas of sourcing, procurement, supplier relationship management, and supply chain management.

The CPSM certification requires applicants to pass three exams: Foundations of Supply Management, Strategic Sourcing & Supplier Relationship Management, and Supply Chain & Logistics. Each exam consists of 150 multiple-choice questions and must be completed within three hours.

In order to sit for the exams, applicants must first meet certain eligibility requirements. These include having at least three years of professional experience in supply management or related fields as well as having either a bachelor’s degree from an accredited college or university or completing a minimum number of ISM-accredited courses.

Once all eligibility requirements are met, applicants can register for the exams through ISM’s website. The cost for each exam is $395 USD ($1185 USD total). After passing all three exams, applicants will receive their CPSM certification and will be required to renew it every three years by completing continuing education credits.

10. Chartered Institute of Procurement and Supply's Chartered Institute of Procurement & Supply Level 4 Diploma

The Chartered Institute of Procurement & Supply Level 4 Diploma is a professional qualification designed to help procurement and supply professionals develop their skills and knowledge. It is an internationally recognised qualification, which provides an excellent foundation for those looking to progress in the field.

The course typically takes between 12-18 months to complete, depending on the individual's prior qualifications and experience. The course consists of 8 modules that cover topics such as legal aspects, contract management, risk management, negotiation strategies, cost control and more.

In order to get the qualification, you must complete all 8 modules and pass the assessment at the end of each module. You will also need to have a minimum of 3 years’ relevant work experience in order to be eligible for the diploma.

The cost of the Chartered Institute of Procurement & Supply Level 4 Diploma varies depending on where you take it from but typically ranges from £1,500 - £2,000.

Do You Really Need a Cost Engineer Certificate?

The answer to this question depends on the individual's goals and objectives. For those interested in pursuing a career as a cost engineer, it is essential to have a cost engineering certificate. This certificate provides employers with proof that you have the necessary skills and knowledge to successfully perform the duties of a cost engineer.

Having a cost engineering certificate demonstrates that you are committed to your profession and that you have taken the time and effort to gain additional qualifications beyond what is required for entry-level positions. It also shows potential employers that you are willing to invest in yourself and your career. As such, having a certificate can be an important factor when searching for job opportunities or when negotiating salaries and benefits packages.

For those who are already in the field of cost engineering, having a certification may provide access to more advanced positions or higher pay rates. Additionally, many organizations require their employees to obtain certifications as part of their continuing education requirements; therefore, obtaining a certification could be beneficial for keeping up with industry trends and standards.

Overall, whether or not someone needs a cost engineering certificate will depend on their particular goals and objectives within the field of cost engineering. If one has specific aspirations or wishes to advance his/her career, then obtaining certification may be necessary in order to reach those goals.

Related: Cost Engineer Resume Examples

FAQs About Cost Engineer Certifications

1. What is a Cost Engineering Certification?

Answer: A cost engineering certification is a professional credential that demonstrates expertise in the field of cost engineering, which involves managing and controlling costs associated with projects or products. It is typically awarded by professional societies or organizations and requires candidates to pass an examination and meet certain educational and experience requirements.

2. Who Should Consider Becoming Cost Engineers?

Answer: Those who have a strong interest in project management, financial analysis, budgeting, estimating, and cost control should consider becoming certified cost engineers. This certification can be beneficial for engineers, architects, accountants, project managers and other professionals involved in the planning and execution of projects.

3. What Are the Benefits of Becoming a Cost Engineer?

Answer: The benefits of becoming a certified cost engineer include increased job opportunities, higher pay scales, improved credibility among peers and employers, increased credibility with clients and customers, access to professional networks, recognition within the industry and more.

4. How Do You Become Certified as a Cost Engineer?

Answer: To become certified as a cost engineer you must meet certain educational requirements such as having an undergraduate degree in engineering or related field along with at least five years of relevant experience in cost engineering or project controls. You must also pass an examination administered by the certifying organization to obtain your certification.

5. How Much Does it Cost to Get Certified as a Cost Engineer?

Answer: The exact cost will vary depending on the certifying organization but typically ranges from $200-$500 USD for the application fee plus any additional fees for taking the exam itself or for study materials such as books or online courses.