Costing Engineer

Chennai, Tamil Nadu 0-2 Yrs ₹2.4 - ₹2.6 Yearly

The Costing Engineer plays a crucial role in estimating project costs, preparing quotations, and supporting sales and project teams in the Crane industry. They analyse technical specifications, prepare cost estimates, and ensure competitive pricing while maintaining profitability.

Key Result Area: 1. Cost Estimation 2. Quotations 3. Negotiation Support 4. Costing Document Creation 5. Continuous Improvement in Costing Processes

Task and Activities:

1. Cost Estimation Support:

• Assist in Cost Estimation: Work under supervision to assist in estimating costs for Crane projects, including materials, labor, and overheads.
• Utilize Costing Tools: Learn to create, use costing spreadsheets, and databases for accurate cost estimation and analysis.

2. Quotation Preparation:

• Support Quotation Preparation: Assist in preparing quotations based on cost estimates and customer requirements.
• Gather Information: Collaborate with senior engineers and stakeholders to gather necessary information for preparing comprehensive quotations.

3. Value Engineering Initiatives:

• Participate in Value Engineering: Contribute ideas and suggestions for value engineering to optimize costs without compromising quality or functionality.
• Research Cost-Saving Measures: Research and propose cost-saving measures and alternative materials or designs under supervision.

Data Analysis and Reporting:

• Assist in Data Analysis: Analyze cost data, supplier quotations, and historical project costs to support accurate cost estimation.
• Prepare Reports: Help in preparing reports on cost estimates, cost breakdowns, and profitability analysis for review by senior engineers or managers.

5. Support Project Management:

• Coordinate with Teams: Collaborate with sales, engineering, and procurement teams to ensure alignment on costing and pricing strategies.
• Attend Project Meetings: Participate in project meetings to understand project requirements, timelines, and deliverables

Measurement Parameters: -

1. Percentage Accuracy 2. Turnaround Time 3. Meeting Deadlines 4. Cost Reduction Initiatives 5. Win Rate 6. Accuracy of Documentation 7. Comparison to Competitors

Requirements:

• Bachelor’s degree in Engineering -Mechanical with 0-2 Year Experience.
• Ability to perform cost estimation for materials, labour, and overheads based on project requirements.
• Numerical proficiency and analytical mindset to interpret data and calculate costs accurately.
• Strong analytical skills to analyse cost data, identify cost-saving opportunities, and propose value engineering solutions.
• Proficiency in using MS Excel or other spreadsheet for cost calculations, data analysis, and reporting.
• Meticulous attention to detail to ensure accuracy in cost estimation, quotation preparation, and documentation.

Benefits:

• Competitive salary and performance-based incentives.

• Opportunities for professional development and career advancement. • Collaborative and innovative work environment.