What is the review and evaluation of separate cost elements and profit or fee in a contractor's proposal called?

The term that refers to the review and evaluation of separate cost elements and profit or fee in a contractor's proposal is known as cost analysis. This process involves a thorough examination of the various components of costs within a proposal, including labor, materials, overhead, and profit margins.

Cost analysis is essential for understanding how a contractor arrives at their pricing and ensuring that the proposed costs are reasonable, allowable, and allocable per applicable regulations and guidelines. It helps organizations assess the validity of costs submitted by contractors, supports decision-making processes by comparing proposals, and ensures that funds are being used effectively for the project at hand.

In contrast, other options such as cost assessment, cost evaluation, and financial review may cover broader aspects of financial analysis but do not specifically focus on the detailed scrutiny of cost elements and profit in the way that cost analysis does. This makes cost analysis the most accurate term for the review described in the question.