Project Cost Estimation Engineer (225-1014)

The Project Cost Estimation Engineer plays a crucial role in the success of construction and engineering projects by providing accurate cost estimates. This position involves analyzing various aspects of a project, including materials, labor, equipment, and other resources required to complete the project effectively. A Project Cost Estimation Engineer utilizes knowledge of engineering principles and construction practices to develop detailed budgets and manage project costs from the initial planning stages through completion. This ensures that projects are financially viable and aligned with the company's financial objectives. Strong analytical skills, attention to detail, and expertise in cost estimation software and methods are required. The role is pivotal in enabling organizations to bid competitively for contracts and manage resources efficiently.

Responsibilities

• Prepare comprehensive cost estimates for projects based on engineering specifications.
• Analyze technical drawings and specifications to understand project requirements.
• Identify factors affecting costs such as production time, materials, and labor.
• Coordinate with project managers to align estimates with project plans and strategies.
• Develop and maintain cost databases to support accurate project cost predictions.
• Conduct site visits to assess project scope and any potential cost implications.
• Collaborate with procurement teams to identify cost-effective suppliers and vendors.
• Review project budgets regularly to identify areas of potential cost savings.
• Prepare reports and documentation related to cost estimation and project expenses.
• Manage changes in project scope and adjust cost estimates accordingly.
• Assist in negotiating with contractors and clients to finalize project costs.
• Ensure compliance with industry standards and company policies in cost estimation.

Requirements

• Bachelor’s degree in Engineering, Construction Management, or a related field.
• Minimum of 3 years experience in cost estimation for engineering projects.
• Proficient in using cost estimation software and related tools.
• Strong analytical skills and attention to detail in financial analysis.
• Ability to interpret technical documents, drawings, and engineering specifications.
• Excellent communication and negotiation skills with vendors and stakeholders.
• Understanding of industry trends and regulations impacting project costs.