Project Cost Estimation Engineer (225-909)

The Project Cost Estimation Engineer is an integral role within construction and engineering projects, responsible for determining the financial outlook of projects from inception through to execution. This individual will analyze numerous factors including materials, labor, location, and project duration to create accurate and reliable cost estimates that will guide decision-making processes. A successful Project Cost Estimation Engineer is not only an expert in financial and technical analysis but also a strong communicator who works closely with project managers, contractors, and financiers to ensure project feasibility and efficiency. This position necessitates a keen eye for detail, a sound understanding of financial principles, and the ability to work under tight deadlines within dynamic settings.

Responsibilities

• Develop detailed and accurate project cost estimates for diverse engineering projects.
• Analyze project specifications and designs to determine comprehensive cost estimations.
• Collaborate with project managers and engineers to understand and implement project requirements.
• Review material, labor, and market data to ensure cost estimates are current and accurate.
• Utilize software and tools to simulate project costs and adjust estimates as necessary.
• Identify potential cost overruns and provide strategies for mitigation and optimization.
• Prepare and present cost estimation reports to stakeholders and upper management.
• Adjust cost estimates based on feedback, scope changes, and project developments.
• Ensure compliance with industry standards and regulations in all cost estimation activities.
• Maintain up-to-date knowledge of market trends and cost factors affecting the industry.
• Coordinate with procurement teams to assess the financial impacts of supply chain decisions.
• Assist in the bid proposal process and negotiation of project contracts as required.

Requirements

• Bachelor’s degree in engineering, construction management, or a related field preferred.
• Minimum of 5 years of experience in cost estimation within engineering or construction.
• Proficiency in using cost estimation software and financial analysis tools required.
• Strong understanding of engineering principles, project management, and financial forecasting.
• Exceptional analytical skills, with a detail-oriented and precise approach to estimation.
• Excellent communication skills, capable of preparing clear reports and presentations.
• Ability to manage multiple projects and priorities in a fast-paced environment.
• Familiarity with industry regulations, compliance standards, and best practices.
• Proven track record of delivering accurate and timely cost estimates on complex projects.