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ABC cost function model is established to calculate the reasonable and lowest cost of construction engineering, by using the idea of Activity-Based Costing (ABC) method that "resources consumed by activities and the products use up activities”. And then, the actual costs are calculated by combining with the accounting records and the calculation method of traditional cost. Now we get the actual cost and the reasonable and lowest cost of construction engineering respectively. So the implicit cost function model of construction engineering can be established by the idea of actual costs minus reasonable and lowest costs. Above all, the implicit cost and the compressible space of the cost in construction engineering will visualize theoretically by using the implicit cost function model.