Cost Engineer

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Salary:

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About the Role

Cost Engineer

This role requires strong analytical skills, attention to detail, and the ability to work cross-functionally with engineering, procurement, finance, and project management teams.

Key Responsibilities

Cost Estimation & Budgeting

• Prepare detailed cost estimates for new and ongoing engineering projects.
• Develop and monitor project budgets, ensuring adherence to cost targets.
• Analyze cost drivers and propose cost optimization initiatives.

Cost Control & Monitoring

• Track actual project costs vs estimated costs and identify variances.
• Conduct monthly and quarterly cost analysis reports.
• Implement corrective actions for cost overruns.

Forecasting & Investment Appraisal

• Conduct cash flow forecasting and long-term cost projections.
• Evaluate project feasibility and ROI using investment appraisal techniques.
• Assist in preparing business cases for capital expenditure approvals.

Risk & Opportunity Analysis

• Identify cost-related risks and recommend mitigation measures.
• Perform sensitivity analysis and scenario-based cost modeling.

Cross-Functional Coordination

• Collaborate with engineering, procurement, and finance teams to validate costs.
• Support procurement by evaluating vendor quotations and pricing trends.
• Ensure compliance with internal cost standards and financial guidelines.

Educational Qualification

• Bachelor’s degree in Engineering, Finance, or related discipline.