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Analyzing requirement documents, blueprints and project plans to gain a thorough understanding of the project Determining what factors of production will influence the cost of a service or product Preparing material estimates and cost estimates for the product or service Creating labor estimates for any project Developing and maintaining relationships with company vendors and contractors Managing bids from vendors and contractors Using bid data to prepare detailed a cost analysis Presenting prepared estimates to management and other stakeholders Compiling and recording actual costs Knowledge of estimating software is preferable