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Oxygen Talent Solutions

Cost Estimator

London
Posted about 19 hours ago
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The Cost Estimator

The Cost Estimator will support our clients' estimating and proposals function by developing accurate, transparent, and competitive cost estimates for the delivery of energy infrastructure projects and associated engineering, procurement, and construction (EPC) works. Reporting to the Head of Bids and Proposals, the role will work closely with the estimating team, operations, engineering, procurement, commercial, and project stakeholders to analyze future project requirements, develop cost models, assess commercial and operational risks, and support tender submissions from initial review through to final proposal.

The Cost Estimator will contribute to reliable pricing, robust risk assessment, and effective mitigation planning across a diverse portfolio of energy projects. Over time, the role will maintain records of project outturn costs against original estimates, building a comprehensive database of benchmarks and lessons learned to continually improve estimating accuracy and future bid competitiveness.

Key Responsibilities

  • Prepare detailed cost estimates, budgets, and cost breakdowns for energy infrastructure and engineering projects.
  • Review client specifications, tender documents, drawings, scopes of work, and delivery strategies to determine estimating requirements.
  • Participate in client clarification meetings and technical reviews.
  • Develop estimate assumptions, basis of estimate documentation, and detailed cost build-ups covering labor, plant, equipment, materials, subcontractors, logistics, and indirect costs.
  • Maintain estimating databases, pricing records, benchmarks, and lessons learned to improve future tender accuracy.
  • Work closely with the Bid Manager to support tender planning, estimate reviews, and bid submission requirements.
  • Coordinate estimate inputs from engineering, operations, procurement, commercial, HSE, and other functional teams.
  • Challenge tender assumptions and stakeholder inputs to ensure estimates are realistic, competitive, and aligned with the proposed delivery methodology.
  • Support the development of commercial submissions by providing accurate cost information and pricing strategies.
  • Identify, assess, and quantify cost risks and opportunities during tender development and project planning.
  • Support quantitative risk analysis using Monte Carlo simulation or similar probabilistic risk modelling techniques where appropriate.
  • Develop contingency allowances and mitigation strategies in collaboration with estimating and project delivery teams.
  • Present cost risk assessments, sensitivities, and recommendations to management and bid stakeholders to support informed decision-making.
  • Collaborate with project delivery and engineering teams to validate productivity assumptions, resource requirements, construction methodologies, logistics, equipment utilisation, and project execution costs.
  • Evaluate supplier, subcontractor, and vendor quotations and support commercial comparisons and procurement strategies.
  • Support the handover of successful tenders to project teams, ensuring estimate assumptions, risks, and commercial considerations are fully documented.
  • Contribute to post-tender reviews and project feedback sessions to improve estimating processes and forecasting accuracy.
  • Prepare clear estimate summaries, cost reports, risk registers, and management review documentation.
  • Ensure estimates are fully traceable, auditable, and supported by appropriate assumptions, exclusions, and qualifications.
  • Apply established estimating procedures, governance requirements, and approval processes throughout the bid lifecycle.
  • Support the continuous improvement of estimating tools, templates, databases, and cost modelling methodologies.

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I’m in my final year doing Economics and I don’t know whether to apply for grad schemes now or do a masters first. What do you think?

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Graduate Consultant — 2026 Scheme

PwC·London, UK
£35,000/yr

Why you're a good match

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Your economics background and your summer at a regional bank line up with what PwC looks for on the consulting scheme. Applications close in four weeks.

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You’ve got the grades and the economics background, and your bank internship is exactly the experience this scheme looks for. Apply soon — deadlines close within the month.

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Your summer at the bank plus your econometrics coursework map directly to the day-one responsibilities on this scheme — client modelling, market briefings, and deal support.

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Preferred Qualifications & Experience

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  • Ideally, you will have a Bachelor's degree in Engineering, Quantity Surveying, Construction Management, Project Management, Finance, or a related technical or commercial discipline.
  • Proven experience in cost estimating, cost engineering, project controls, or commercial analysis within the energy, utilities, infrastructure, engineering, construction, or industrial sectors.
  • Experience preparing estimates for competitive tenders, capital projects, or EPC contracts.
  • Experience with quantitative risk analysis, Monte Carlo simulation, or similar probabilistic cost and risk modelling tools is desirable.
  • Strong proficiency in Microsoft Excel together with familiarity with estimating, scheduling, project controls, or cost management software.

Skills & Competencies

  • Strong analytical skills with the ability to interpret technical, operational, and commercial information.
  • Excellent attention to detail and commitment to producing accurate, transparent, and well-documented estimates.
  • Good understanding of engineering, construction, and project delivery principles, including resource planning, logistics, and cost drivers.
  • Ability to assess project risks, evaluate cost impacts, and develop practical mitigation strategies.
  • Strong communication and stakeholder management skills, with the ability to work collaboratively across estimating, engineering, commercial, and project delivery teams.
  • Commercial awareness and the ability to balance competitive pricing with realistic delivery assumptions.
  • Well organized, proactive, and able to manage multiple deadlines within fast-paced bid environments.
  • Confident in constructively challenging assumptions and supporting evidence-based commercial decisions.
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Skills

Cost Estimating
Project Controls
Risk Assessment
Monte Carlo Simulation
Microsoft Excel
Budgeting
Tender Management
Quantitative Risk Analysis
Commercial Analysis
Procurement Strategy
Stakeholder Management
Cost Modeling
EPC Contracts
Engineering
Construction Management
Financial Analysis

Location

London, England, United Kingdom

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