Job Title: Cost Engineer

Location

Reading, UK

Duration

12 Months

Client

Leading Global Energy Operator

Rate

Negotiable

Job Purpose

• Forecast cost for venture scope
• Manage cost baselines, forecasts, and financial risks
• Prepare, review, monitor, analyze, and report all cost data for venture scope
• Ensure alignment of cost with schedule and scope through variance analysis
• Reconcile the cost expenditure status

The role of the Cost Engineer provides advisory support to the project management team related to all the cost-related activities. The candidate will act as the interface between the Business Team and the rest of the team.

Key Responsibilities and Duties

• Communicate assigned project issues and concerns directly to Project Manager, Senior Cost Engineer, and Business Administrator.
• Develop and maintain cost reports, cash flow, and contingency analyses for the individual projects.
• Provide cost estimates.
• Administer Change Orders and Bid box as required by procedure.
• Estimate costs of positive and negative scope changes and assess impact on total project cost; work with estimators to get assistance if needed.
• Ensure accurate reflection of committed and spent funds, Change Alerts, Project deviation notices, field change orders, and project execution changes in all cost documents relating to the construction phase.
• Assist with managing existing and amended AEL values.
• Liaise with Human Resource Department to monitor office space which is billable to the project as required to ensure that the project is not billed for space not being used.
• Derive an accurate and realistic forecast of all funds required to complete the project within the defined budget and schedule while incorporating own trending and analysis and consult with the Project Manager prior to publishing.
• Ensure accurate representation of cost data in weekly, monthly, and ad hoc reporting.
• Alert Coordinating Cost Management Office and Business Management Office and the project team to critical Cost Management issues.
• Provide assistance for additional cost management related studies and scenarios if required.
• Prepare and update monthly project updates (MPU).
• Review Contractor Progress Payment Certificates for Engineering, Procurement, and Construction.
• Process Service Entry Sheets through SAP once the invoice is approved.
• PO creation and WBS corrections through SAP.
• Monitor, analyze, and verify project Controllable Costs on a monthly basis through the Operating Statement Dashboard.
• Change Management (follow the process from COR to settlement).