Project Cost Estimation Engineer (225-827)

The Project Cost Estimation Engineer plays a crucial role in the planning and financial management of construction and engineering projects. This position involves analyzing project plans, determining cost estimates, evaluating risks, and ensuring that financial budgets are adhered to throughout the project lifecycle. By leveraging their deep understanding of engineering principles, materials, and methods, the Cost Estimation Engineer contributes to the successful execution of projects by accurately predicting and managing project costs. This role requires a meticulous approach, exceptional analytical skills, and the ability to work collaboratively with project teams to deliver results in line with project objectives and client expectations.

Responsibilities

• Develop detailed and accurate cost estimates for engineering and construction projects.
• Collaborate with project managers and engineers to understand project specifications and requirements.
• Analyze project drawings, specifications, and related documents to ascertain project scope and requirements.
• Identify and evaluate potential risks and propose mitigation strategies to manage cost impacts.
• Prepare cost reports and present findings to project stakeholders and management.
• Conduct market research to keep up to date with material, labor, and equipment costs.
• Participate in project meetings to discuss and resolve budget-related issues and concerns.
• Verify and validate cost estimates to ensure accuracy and compliance with industry standards.
• Monitor project spending and financial milestones to ensure adherence to budget constraints.
• Coordinate with procurement teams to align cost estimates with purchasing strategies and agreements.
• Assist in the preparation of bid proposals and contract negotiations with potential clients.
• Continuously update costing templates and tools to improve accuracy and efficiency in estimating processes.

Requirements

• Bachelor’s degree in Engineering, Construction Management, or a related field is required.
• Proven experience in cost estimation within the construction or engineering sectors.
• Strong analytical skills with an ability to interpret complex engineering documents.
• Proficiency in cost estimation software and tools such as MS Excel, Primavera, or similar.
• Excellent communication skills to interact with various project stakeholders effectively.
• Strong problem-solving skills to identify and address potential cost-related challenges.
• Ability to work independently and as part of a team to meet project deadlines.