Costing Engineer

Job Description

The Costing Engineer is responsible for preparing accurate cost estimates, BOQs, and tender submissions for projects. This role requires expertise in cost analysis, vendor coordination, bid preparation, and project budgeting to ensure competitive pricing and profitable project execution. The engineer will collaborate with design, procurement, finance, HR and project teams to align cost estimates with technical requirements and market conditions.

Cost Estimation :

• Develop detailed cost estimates based on project requirements and electrical system designs.
• Analyze specifications, project timeline scope matrix and other documentation to to ensure cost accuracy and competitiveness.
• Maintain Overhead Cost Database to track and allocate costs effectively.
• Use costing software (Excel, ERP or equivalent) to create and manage cost models.
• Perform cost-benefit analysis for alternative materials and design solutions.

Bid Preparation :

• Prepare technical and commercial bid proposals for projects.
• Review contractual terms, conditions, and scope of work in tenders.
• Analyze past tender submissions and project costs to suggest competitive price ranges.
• Coordinate with internal teams (engineering, finance, procurement) for bid submission.
• Ensure tenders comply with client requirements, industry standards, and legal regulations.

Vendor & Procurement Coordination :

• Liaise with suppliers, subcontractors, and vendors to obtain competitive quotations.
• Analyze vendor proposals to ensure technical and commercial compliance.
• Consult with procurement team and suppliers for anticipated price increases.
• Track market price fluctuations for materials and equipment and prepare cost trend report.

Cost Control & Budgeting :

• Compare approved tender cost estimates with actual procurement and project costs.
• Identify Material & Overhead cost fluctuations and assess impact on ongoing and future projects.
• Coordinate with senior engineers to discuss major cost overruns or savings.
• Work with internal teams (engineering, finance, HR, procurement) to find cost-saving opportunities.
• Participate in internal review meetings to stay aligned with project requirements.

Documentation & Reporting:

• Maintain an updated cost database for materials, labor, and subcontractor rates.
• Prepare detailed costing reports and tender evaluation summaries.
• Provide regular updates to manager on cost trends and tender outcomes.

KNOWLEDGE

• Bachelor's degree in Electrical Engineering, Cost Engineering, or a related field.
• 4-5 years of experience in cost estimation, tendering, and project budgeting for electrical systems.
• Exposure to infrastructure, construction, industrial, or power distribution projects is a plus.
• Strong understanding of electrical system design, power distribution, and load calculations.
• Experience in BOQ preparation, bid management, and vendor coordination.
• Familiarity with local and international tendering standards.
• Understanding of contract terms, risk analysis, and project costing methodologies.
• Effective negotiation and vendor management skills.
• Ability to multitask, prioritize work, and meet project deadlines under pressure.
• Detail-oriented mindset with a proactive approach to troubleshooting and innovation

Job Type: Full-time

Pay: ₹20,000.00 - ₹50,000.00 per month

Benefits:

• Flexible schedule
• Health insurance
• Life insurance
• Paid sick time
• Provident Fund

Work Location: In person