costing
Word family
Synonym discussion
Sense: noun/1
All five terms cover the act of putting numbers on a future expense, but each has a different home in everyday business. A 'costing' is the most analytical of the five — usually a detailed, line-by-line breakdown produced by an accountant or project manager before a decision is made. An 'estimate' is more general and less formal: a teacher might give a parent an estimate of what a school trip will cost without itemising every snack. A 'quote' is specifically a price an outside supplier offers for a defined job (a plumber's quote, a printer's quote), and it normally counts as a binding offer. A 'budget' is the planning ceiling — the total amount you intend to spend across many items — rather than the calculation behind any single one. A 'projection' is broader still and stretches further into the future, often covering revenue and cost together. So a builder might receive three quotes, combine them into a costing for the kitchen, slot that costing into the household budget, and the financial planner would fold the lot into a five-year projection.
Common collocations
Nouns
- project costing
- product costing
- labour costing
- material costing
Adverbs
Phrases
- prepare a costing
- submit a costing
- at a heavy costing
Prepositions
- of (a project)
- for (a customer)
- at (a costing of)
Etymology
'Costing' is the gerund and verbal noun of the verb 'cost', which entered English in the 14th century from Old French 'coster' (to be worth). Both trace back to the Latin 'constare', literally 'to stand together' or 'be settled', from which the sense 'to be reckoned at a certain price' developed. The use of 'costing' as a noun for the calculation itself (sense 1) grew up much later, in the rise of industrial bookkeeping in the 1800s, when factory managers needed words for the careful working-out of how much each product would absorb in materials and labour.