Project Cost Estimation Engineer 10D25

As a Project Cost Estimation Engineer, you will play a crucial role in determining the financial viability and success of various engineering projects. Your primary responsibility will be to estimate the costs associated with project developments, ensuring the budget aligns with organizational and project objectives. You will work closely with cross-functional teams, including project managers, design engineers, and procurement teams, to analyze project specifications, design costs, material costs, labor costs, and other potential expenses. Utilizing advanced estimation software and methodologies, you will create detailed cost models, contribute to financial planning, and support decision-making processes. You will be expected to stay abreast of industry trends and best practices, delivering accurate and timely cost estimates that are vital for risk assessment and strategic planning.

Responsibilities

• Develop and maintain comprehensive project cost estimation strategies and processes.
• Analyze project specifications to forecast financial requirements and budget allocations.
• Collaborate effectively with project managers to align budget estimates with project goals.
• Prepare detailed cost break-downs and financial models for various project phases.
• Utilize estimation software to predict material, labor, and operational costs accurately.
• Monitor the project development process to ensure budget compliance and adjustments.
• Conduct risk assessments to forecast potential financial implications and mitigate them.
• Provide regular updates and reports on cost estimation to stakeholders and management.
• Evaluate supplier proposals and negotiate cost-effective contracts for project needs.
• Stay informed about industry developments and incorporate best practices in cost estimation.
• Participate in financial audits and reviews to enhance estimation accuracy and reliability.
• Train junior staff in cost estimation methodologies and industry best practices.

Requirements

• Bachelor’s degree in Engineering, Finance, or related field is required.
• Minimum of five years of experience in project cost estimation roles.
• Proficiency in estimation and project management software is essential.
• Strong analytical skills and attention to detail with numerical expertise.
• Ability to work collaboratively in a team-oriented environment with various stakeholders.
• Excellent communication skills for effective reporting and stakeholder engagement.
• Understanding of engineering processes and production planning is highly preferred.