Project Cost Estimation Engineer (225-731)

A Project Cost Estimation Engineer plays a crucial role in assessing the financial cost of engineering projects, ensuring that budgets are strictly adhered to and financial risks are minimized. The role involves meticulous analysis and detailed estimations to facilitate the realization of projects within the stipulated financial frameworks. Individuals in this position must possess strong analytical skills to assess project requirements, analyze costs, and compile estimates that support the decision-making process. They work closely with project managers and engineers to review project documentation, specifications, and designs to provide accurate cost estimates. Such professionals are highly valued in sectors such as construction, manufacturing, and engineering where precise cost analytics are pivotal to project success. Their ultimate goal is to enhance profitability while maintaining the integrity and quality of the project.

Responsibilities

• Develop precise and detailed cost estimates for various engineering projects.
• Collaborate with project managers to align cost estimates with project plans and scopes.
• Analyze blueprints, technical documents, and specifications to estimate costs.
• Research and analyze historical data to inform cost prediction models.
• Monitor and report on cost performance throughout the project lifecycle.
• Identify potential cost variances and develop strategies to mitigate them.
• Prepare budgets and provide financial forecasts in coordination with the finance team.
• Maintain documentation and records of all cost estimates for future reference.
• Participate in post-project analysis to determine the accuracy of cost estimates.
• Utilize specialized software and tools to enhance the accuracy of financial projections.
• Communicate with vendors and suppliers to obtain cost information on materials.
• Ensure all cost estimates comply with industry standards and regulatory requirements.

Requirements

• Bachelor's degree in engineering, finance, or related field is required.
• Proven experience as a cost estimation engineer or similar role is essential.
• Strong analytical skills with a keen eye for detail and numerical ability.
• Excellent knowledge of estimation techniques and software applications.
• Ability to work collaboratively in a team-oriented environment.
• Strong written and verbal communication skills with stakeholders.
• Proficient in Microsoft Office Suite and cost estimation software tools.