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Caterpillar Inc
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Cost Engineer

Cost Engineer

Caterpillar Inc

3 - 7 years

7 - 11 Lacs

chennai

Posted:4 days ago| Platform:

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Skills Required

procurement business communication automation analytical business analytics standard operating procedures cost mechanical engineering business operations

Work Mode

Work from Office

Job Type

Full Time

Job Description

The Cost Engineer is responsible for developing, analyzing, and controlling project costs to ensure projects are completed within budget and meet financial objectives. They collaborate with cross-functional teams to identify and implement cost-saving opportunities throughout the project lifecycle.

Responsibilities

Prepare detailed cost estimates for various projects by analyzing project specifications and requirements.
Develop and maintain project budgets and financial forecasts.
Monitor project expenditures, analyze cost variances, and report discrepancies to stakeholders.
Identify potential cost risks and opportunities, and recommend mitigation strategies or cost-saving solutions.
Collaborate with engineering teams, procurement, and other departments to gather cost data and ensure accurate cost estimation.
Evaluate supplier and subcontractor bids and invoices to ensure competitive pricing and cost-effectiveness.
Support procurement processes by providing cost analysis and guidance.
Prepare and present comprehensive cost reports and forecasts to management and clients.
Conduct feasibility studies and analyze potential risks and returns on investment for project options.
Participate in the evaluation and adoption of new technologies or processes (eg, automation, software) to improve efficiency and reduce costs.

Degree requirement

A Bachelors degree in an Mechanical Engineering, a related field.

Skill descriptors:

Information capture

Level: Basic Understanding
Identifies information capture needs in their own area and describes the benefits of documenting relevant information.
Understands risks associated with failing to record information and explains organizational methods for documenting and storing data.

Standard operating procedures (SOP)

Level: Basic Understanding
Explains the use of standard operating procedures in business operations and identifies key features and functions.
Describes issues and considerations when using standard operating procedures.

Analytical thinking

Level: Expert Level
Names specific tools and techniques that support analytical thinking processes (eg, spreadsheets, databases).
Describes how analytical thinking has been used to resolve problems and helps others learn about business analytics tools.

Effective communications

Level: Expert Level
Explains the importance of effective business communication and describes how non-verbal behavior can influence message interpretation.
Speaks and writes clearly and concisely, using correct language, mechanics, and gestures.

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