Join a dynamic construction company established in 2020, delivering high-quality projects with a strong track record of success. As part of a broader real estate development ecosystem, it offers integrated services through its Developer, Architectural Firm, and Construction divisions, ensuring seamless project execution from concept to completion.
Job Context: The Cost Estimation Engineer is responsible for managing and controlling project costs, ensuring that budgets are adhered to, and providing accurate cost forecasts. This role involves estimating costs, monitoring project expenditures, and analyzing financial data to support decision-making and improve cost efficiency. The Cost Engineer collaborates with project teams to deliver projects within financial constraints and aligned with company objectives.
Key Accountabilities
- Prepare detailed cost estimates during the project’s feasibility and design stages.
- Develop project budgets based on scope, resource requirements, and market conditions.
- Work closely with project managers to finalize budgets and cost plans.
- Track and monitor project expenditures to ensure adherence to approved budgets.
- Conduct cost variance analysis to identify and address deviations.
- Recommend cost-saving measures to optimize project efficiency and reduce waste.
- Prepare regular cost reports and forecasts to provide insights into financial performance.
- Generate cash flow projections and expenditure forecasts for project phases.
- Present cost analyses and updates to the Planning & Cost Manager and senior management.
- Assist in preparing tender documents and evaluating contractor bids.
- Analyze cost implications of procurement decisions, including materials, equipment, and services.
- Support contract negotiations by providing accurate cost data and recommendations.
- Identify cost risks and propose mitigation strategies to minimize financial exposure.
- Conduct “what-if” scenarios to evaluate the financial impact of potential project changes.
- Monitor contingency allowances and recommend adjustments as necessary.
- Collaborate with project teams, procurement staff, and vendors to align costs with project objectives.
- Work with the Planning Engineer to integrate cost data into project schedules.
- Ensure that all stakeholders are informed of cost implications for project decisions.
- Review and improve cost management processes and tools to enhance accuracy and efficiency.
- Stay updated on industry trends, cost estimation techniques, and market pricing.
Knowledge, Skills, and Experience
- Bachelor’s degree in Civil Engineering, Construction Management, Quantity Surveying, or a related field.
- A minimum of 3-5 years of experience in cost engineering or cost control, preferably in the construction or real estate sector.
- Certification in cost engineering (e.g., CCP by AACE) or equivalent is a plus.
- Proficiency in cost management tools and software (e.g., CostX, Primavera Cost Manager, or similar).
- Strong understanding of cost estimation, budgeting, and financial analysis principles. o Advanced Excel skills for data analysis and financial modeling.