A Cost Engineer oversees creation of Cost Models and Estimates for components and finished goods, preparing cost estimates, and managing recommendations to support profitability. They assess risks, track market fluctuations and generate detailed financial reports.
General Responsibilities
• Development of comprehensive project budgets and advanced cost models, ensuring accuracy and alignment with complex technical drawings and specifications.
• Handles the review of drawings and specifications, and provide expert guidance in the preparation of high-level cost estimates and strategic bid packages.
• Establish, track, and ongoing maintenance of project budgets and forecasts, ensuring robust financial controls across multiple projects.
• Monitor and analyze vigente project expenditures versus approved budgets, identify significant variances, and implement corrective strategies to optimize financial performance.
• Lead project cost forecasting and conduct in-depth cost-benefit analyses to inform executive decision-making and strategic planning.
• Handles the preparation of advanced cost performance reports and present key financial insights to project managers and senior leadership.
• Identify and evaluate major cost risks, manage substantial contingency funds, and develop and implement sophisticated risk mitigation strategies.
• Lead the analysis and negotiation of supplier contracts, high-value quotes, and complex change orders to ensure cost efficiency and compliance.
• Handles the maintenance of comprehensive project documentation, cost databases, and historical data, ensuring data integrity and accessibility for future projects.
• Develops high-level communication with project teams and stakeholders to resolve complex budget discrepancies and ensure strict adherence to organizational standards and best practices.
Experience / Qualifications
• Relevant work experience or knowledge of the role
• Must be a team player able to work in a fast-paced environment with demon