Description:
Job Description: Cost Engineer
As a Cost Engineer, you will play a pivotal role in analyzing project costs, developing budgets, and ensuring effective cost management for our water and energy contracting projects.
Responsibilities:
1. Cost Estimation and Budgeting:
•Collaborate with project managers and engineering teams to develop accurate cost estimates for projects during the planning phase.
•Prepare detailed cost breakdowns, considering materials, labor, equipment, subcontractor services, and other project-related expenses.
•Develop and maintain project budgets, tracking expenditures and comparing them to the approved budgets.
2. Cost Control:
•Monitor project expenditures and ensure they align with approved budgets.
•Identify cost-saving opportunities and recommend value engineering solutions without compromising project quality or safety.
•Review and assess change orders and variations to evaluate their impact on project costs.
3. Financial Analysis:
•Analyse cost data and provide insights into cost trends, deviations, and potential risks to project budgets.
•Generate financial reports and forecasts to aid decision-making by project managers and senior leadership.
4. Vendor and Supplier Management:
•Collaborate with procurement teams to evaluate quotes, bids, and proposals from vendors and subcontractors.
•Participate in negotiations to secure favorable terms and competitive pricing for materials and services.
5. Risk Management:
•Identify potential cost-related risks and uncertainties that could impact project budgets and timelines.
•Develop contingency plans and strategies to mitigate these risks.
6. Documentation and Reporting:
•Maintain accurate records of cost data, estimates, budgets, and change orders.
•Generate regular cost reports and updates for project stakeholders, including senior management.
7. Cross-Functional Collaboration:
•Work closely with project managers, engineers, site teams, and other stakeholders to ensure cost-related decisions align with project goals.
8. Continuous Improvement:
•Propose and implement process improvements related to cost estimation, tracking, and control.
•Stay updated on industry best practices and trends in cost engineering.
Qualifications and Requirements:
•Bachelor's degree in Engineering, Construction Management, Finance, or a related field.
•Minimum of 5 years of experience as a Cost Engineer in the construction or engineering industry, preferably within water and energy contracting projects.
•Proficiency in cost estimation techniques, budget development, and cost control methodologies.
•Strong analytical skills and ability to interpret complex financial data.
•Knowledge of project management principles and practices.
•Proficiency in cost management software and tools.
•Excellent communication and interpersonal skills.
•Attention to detail and ability to work under pressure.
•Problem-solving mindset and proactive approach to identifying cost-related challenges.
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