Cost Estimation Incharge.

Purpose/Objective

Cost Estimation In-charge leads project cost estimation and analysis, ensuring accurate bidding, analysis, and competitive benchmarking. Manage vendor relationships for optimal procurement and maintain comprehensive project documentation. Implement innovative cost estimation practices and support diverse project management tasks to achieve successful project outcomes.

Key Responsibilities of Role

Project Cost Estimation and Analysis: - Prepare complete project cost estimates including BOQ, in-depth rates analysis, and benchmarking with comparable projects for HAM, TOT, BOT highway bids based on bid documents and site conditions to ensure comprehensive and competitive bidding. - Provide in-depth rate analysis and cost estimation of the bids based on MORTH/IRC specifications to align with industry standards. - Finalize quantities after discussing with the Design team to ensure accuracy in material requirements. - Prepare and finalize cost estimates for bidding through a complete analysis of project scope requirements to ensure the most competitive and accurate cost projections. - Identify available local materials by conducting site studies to ensure the project cost estimate is competitive. - Record and maintain a database of scope, bid documents, and drawings as required to ensure easy retrieval and reference for future projects. - Provide and seek necessary data from the Techno-commercial and Design teams for timely cost estimates of bids to ensure seamless collaboration and information flow. - Analyse and compare contractor offers with internal estimates to arrive at a workable and competitive price in order to ensure financial accuracy and competitiveness. - Identify value engineering options and their implementation to optimize project costs. - Evaluate market prices and indices to prepare cost estimations to ensure realistic and market-aligned cost projections. - Calculate the maintenance part of the project to ensure comprehensive cost coverage. Vendor and Procurement Management: - Interact with pre-bid subcontractors to provide necessary clarifications, review their submitted quotes, and assist in negotiations to finalize the quote in order to secure the best possible terms. - Obtain the prices to be quoted for supply items in consultation with the Techno-commercial team to ensure cost-effectiveness. - Support vendor management activities to ensure the procurement of high-quality materials at competitive prices. - In collaboration with the Techno-commercial team, support negotiations with vendors for costing and requirement understanding to ensure cost-effective procurement and project success. Documentation: - Prepare necessary presentations showing the study of bids to effectively communicate cost estimations and strategies. - Track and record bid documents and all amendments closely for future reference to ensure accurate and historical data management. - Finalize the EPC cost in consultation with the Tendering Head to ensure the bid's financial viability. Team Development and Collaboration: - Build a strong in-house team and develop a robust cost database to manage the entire process in-house, but also collaborate with consultants and external experts when required in order to enhance estimation accuracy and efficiency. - Visit sites periodically, interact with vendors and contractors as needed, and work on the estimation for the bids to ensure accurate and on-site verified cost assessments. - Use technology/AI to handle, study and analyze large volumes of data in shorter duration. Additional Responsibilities: - Study the latest technical specifications, technological advancements in the industry, and applicability of the same in projects to ensure up-to-date and innovative cost estimation practices. - Assist in other assignments like change of scope and preparation of claim statements to support project changes and claims management. Key Stakeholders - Internal: - Techno Commercial Team - Planning - Projects Key Stakeholders - External: - Contractors - Vendors

Technical Competencies

Business Know-how-RMRW,Civil Engineering Know-how-RMRW,Construction Techniques Know-how-RMRW,Data Management & Analytics-RMRW,Quantity Survey Management-RMRW,Regulatory Compliance-RMRW

Qualifications and Experience

Education Qualification: - BE / B.Tech in Civil Engineering Work Experience (Range of years): - 10+ years of work experience Preferred Industry: Construction and Infrastructure Development