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Cost Engineer

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Job description

The Cost engineer is responsible for analyzing project cost data starting from the preparation of a control budget in accordance with the “as sold” figure received from commercial dept. This may include the cost of material, erection subcontracts, engineering and construction management services and other costs associated with the execution of a specific project.

The Cost Engineer work closely with project control coördinator/manager to ensure project manager, stakeholders, and other members of the project team that projects are completed within a pre-established baseline estimated cost.

The Cost Engineer should be able to provide a firm quantitative and accurate base for the early forecasting of the probable final cost; this forecasting function provides to the management a primary decision-making tool to proactively evaluate possible corrective actions to reduce risks of overrun or to identify possible cost saving opportunities.

In this role, the Cost Engineer is responsible for preparing analysis and reports to support project manager in the decision-making process towards Clients or Management.

Key Responsibilities

Analyze actual costs vs control budget during all phases of the Project.

Determine the forecast final costs based on available information in terms of quantities and unit rates.

Highlight possible variances and reporting them through a deviation report.

Identify cost-saving opportunities and support project manager in the implementation of corrective actions.

Perform trend analysis on quantities and mhrs productivity.

Invoice checking and cash flow preparation.

Budget release activities for procurement and subcontracting campaigns.

Managing of cost databases and templates.

Prepare reports and presentations on project costs and cost management strategies.

Ensure compliance with company policies and procedures related to cost control.