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A cost engineer is an engineer whose judgment and experience are utilized in the application of scientific principles and techniques to problems of estimation; cost control; business planning and management science; profitability analysis; project management; and planning and scheduling.. Contents.ost engineering is a field of engineering practice that began in the 1950s (AACE International was founded in 1956). The skills and knowledge areas of Cost Engineers are similar to those of Quantity Surveyors.
Industrial engineers develop, manage and evaluate systems for industrial production including inventory control, cost analysis and logistics. They make a median $75,110 per year, with a range from $48,840 to $109,220, or $36.11 per hour, with a range of $23.48 to $52.51.