SENOIA, GA—A new organization called the Society of Product Cost Engineering and Analytics (SPCEA) was recently formed. The organization is dedicated to cost estimating, controlling and optimization professionals in the manufacturing industry.

Cost engineering is the practice devoted to the management of project cost, involving such activities as estimating, cost control, cost optimization, cost forecasting, investment apraisal and risk analysis. In simpler terms, cost engineering (sometimes called design to cost) is the practice of engineering a company’s products to meet predefined cost requirements.

“SPCEA is the only nonprofit organization that specifically focuses on the needs of cost engineering professionals within the manufacturing industry,” says Chris Domanski, an engineer at Nexteer Automotive Corp. who also serves as SPCEA president. “We are passionate about providing training, certification, information sharing, job board and networking opportunities for cost engineering professionals.

“SPCEA believes that increased awareness and knowledge of cost engineering within manufacturing will lead to improved accuracy of cost estimates and analysis, better organizational cost control and highly cost optimized products,” explains Domanski. “This, in turn, will lead to higher levels of industry profitability and increased employment.”

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