Cost Engineer

Position Title: Cost Engineer 

Experience: 3–5 Years 

Location: Hosur 

Role Overview

The Cost Engineer is responsible for effectively managing and controlling project costs throughout the project lifecycle. The role involves cost estimation, budgeting, forecasting, investment analysis, and risk evaluation to ensure projects are executed within approved cost targets. The ideal candidate will have strong analytical abilities, financial acumen, and technical understanding of engineering projects.  

Key Responsibilities

1. Cost Estimation & Budgeting

Develop detailed cost estimates for new and ongoing projects. 

Prepare project budgets, cost breakdown structures, and pricing models. 

Evaluate engineering designs, specifications, and drawings to determine cost implications. 

Ensure all estimates reflect realistic market rates and project requirements. 

2. Cost Control & Monitoring

Track project spending and ensure adherence to approved budgets. 

Conduct variance analysis and highlight deviations to project management. 

Maintain cost control systems and regularly update cost reports. 

Implement corrective actions to keep project financial performance on target. 

3. Forecasting & Financial Analysis

Prepare cost forecasts and cash flow projections for different project stages. 

Work with project teams to ensure updated cost-to-complete estimates. 

Analyze financial performance indicators and identify cost-optimization opportunities. 

4. Investment Appraisal

Conduct feasibility studies, ROI calculations, and payback assessments. 

Prepare investment appraisal reports for new projects or CAPEX proposals. 

Support decision-making with accurate financial and technical insights. 

5. Risk Analysis & Project Evaluation

Identify cost-related risks and develop risk-mitigation strategies. 

Support risk assessments using qualitative and quantitative methods. 

Participate in project planning and scheduling to ensure financial accuracy. 

6. Documentation & Reporting

Prepare accurate cost reports, dashboards, and financial summaries. 

Maintain detailed documentation for estimates, budgets, and actuals. 

collaborate with engineering, procurement, finance, and project teams for data alignment. 

Skills & Competencies

Strong knowledge of cost estimation, budgeting, and cost control methodologies. 

Expertise in forecasting, financial modeling, and investment appraisal. 

Proficiency in risk analysis and use of cost management tools. 

Strong analytical, numerical, and project evaluation skills. 

Ability to interpret engineering drawings, BOQs, and technical documentation. 

Advanced proficiency in MS Excel; familiarity with ERP/Cost Management software preferred. 

Excellent communication and report writing skills.  

Educational Qualification

Bachelor's degree in Engineering, Finance, Economics, Cost Accounting, or related field.

Interested candidates can share their CV to balakrishnammal.s@stancosolutions.com or 8012875725 (Whatsapp only)