Cost Engineer

Role Overview

The Cost Engineer will assist and occasionally lead the cost function ensuring all commercial and project financial activities align with the Company's policies and procedures.

Key Responsibilities

• Prioritize personal safety and adherence to HSEQ policies and guidelines.
• Maintain clear and effective communication between the cost function and essential stakeholders.
• Ensure adherence to cost function processes, regularly reviewing them to keep them streamlined and practical.
• Create budget breakdowns from the Project Estimate Document (PED) based on task allocation, consult with the project team, and input data into the Compass system.
• Manage and sustain Oracle system data relevant to cost tracking.
• Prepare contract milestone invoices with necessary supporting documentation and assist the finance team in client payment follow-ups.
• Coordinate with project managers to update project cash flows and submit them to finance, highlighting significant deviations from initial projections.
• Generate estimates and analyze cost impacts of changes, tracking actual expenditures for project modifications.
• Collect and update contract cost reports covering key metrics such as Value of Work Done (VOWD), Forecast to Go, Estimate at Completion, variance analyses, and cash position, including insightful commentary on variances.
• Collaborate with engineering, procurement, and construction teams to understand project activities and their financial implications, ensuring updated phased cost forecasts.
• Participate in cost performance review meetings as necessary.
• Support project cost close-out activities to ensure clean balance sheets.
• Develop monthly project cost review presentations for the Project Management Team (PMT).
• Attend Client Project Controls monthly meetings as applicable.
• Provide up-to-date project budgets and revenue information for business unit forecasting.
• Demonstrate a commitment to the company and client's core values and continuous improvement.
• Exhibit excellent communication and interpersonal skills.

Qualifications and Experience

• Minimum five years of overall experience, with at least three years functioning specifically as a Cost Engineer, preferably in major oil and gas projects.
• Degree in cost management, quantity surveying, engineering, or a related discipline.
• Advanced Excel proficiency and experience with cost estimation and risk analysis software.
• Deep understanding of the project execution cycle and the ability to interpret contract terms, conditions, and specifications.
• Familiarity with total cost management techniques and established cost engineering practices.