Cost Engineer

Cost Engineer

Key Responsibilities

• Visit project sites, review project scope, drawings, and specifications to develop cost estimates through different estimate classes as per guidelines.
• Review engineering and construction service proposals and validate their alignment with the original project scope.
• Analyze and evaluate the cost effectiveness of all services and contracts.
• Assist with bid analysis and contract negotiations as applicable.
• Collect cost details of various projects, analyze actual versus estimated costs, compile analysis for evaluation, and create lesson learned logs for all variations.
• Review change orders and Extension of Time (EOT) claims and calculate appropriate cost variations.
• Control and monitor project expenses and plan for unforeseen costs.
• Develop and update forecasts for all projects.
• Maintain and develop benchmark databases as required.
• Perform risk analysis for projects.
• Prepare reports and communicate them in a timely and accurate manner to meet department requirements, policies, and standards.
• Survey sites, quantify project scope, and prepare bills of material.
• Liaise with project engineers to convert specifications and quantities into cost estimates for new projects.
• Identify fixed and variable cost elements and define appropriate factors for variable cost determination.
• Assist in building price schedules for the contracting process.
• Build Work Breakdown Structure (WBS) in SAP project structure module as per project requirements.
• Conduct special studies to develop standard hour and related cost data to establish effective norms.
• Establish actual versus estimate cost matrices to analyze variations.
• Undertake any other ad-hoc duties as required.
• Demonstrate strong interpersonal and communication skills and work effectively with a wide range of constituencies in a diverse community.

Requirements

• B.Sc. Eng, B.E., B.Tech Degree or equivalent in Mechanical or Civil Engineering from a recognized university.
• Minimum 10 years of work experience in a refinery or petrochemical oil and gas plant in a similar position.
• Experience in brown field construction planning.
• Strong practical experience in quantity surveying of multi-disciplined projects.
• Thorough knowledge of costing standards, tools, and software.
• Advanced user of MS Excel and other MS Office tools.
• Familiarity with SAP project structure module; financial module knowledge is an advantage.
• In-depth knowledge of research and data analysis methods and estimation formulas.
• Proficiency in English communication (speaking, reading, and writing).
• Ability to write and express complex ideas, instructions, and procedures.
• Understanding and adherence to plant safety standards and procedures.
• Familiarity with petrochemical plant safety hazards.