ELI5: Explain Like I'm 5

Cost engineering

Cost engineering is when people try to figure out the best way to build something, or provide a service, while also saving as much money as possible. They look at different ways to build things and figure out which way is the cheapest. They also look at what types of materials they can use and if they can get them at lower prices. They try to figure out how to get the best quality and the lowest cost. Basically, it's all about making sure that whatever you're building is done for the lowest price possible, but still providing a good quality product.