what is a 'cost engineer
/ no comments. A cost engineer is a kind of engineer that does specialized work in helping to assess risk, project cost control, and is involved in estimation, const control, and risk analysis. He or she will receive formalized training for this.ost engineering started out in the 1950s. Cost engineers are usually specialized in function, and they focus on cost estimation, programming, and scheduling the assets and resources of a project. Some cost engineers might specialize in a certain industry like chemicals, buildings, or software.