Published: August 23, 2024 - The Cost Engineer reviews engineering plans and specifications to accurately identify and quantify scope elements for cost estimation. Specializes in analyzing cost reports, auditing, and applying escalation factors to predict future costs, enhancing the precision of financial projections. An integral team member who organizes and maintains cost data, supports benchmarking efforts, and collaborates on multiple projects simultaneously, ensuring adherence to commonly used construction practices and procedures.
Tips for Cost Engineer Skills and Responsibilities on a Resume
1. Cost Engineer, Apex Engineering Solutions, Atlanta, GA
Job Summary:
- Prepare estimates and cost plans for a variety of developments using CostX Software
- Prepare cost plans and conceptual estimates at project inception stage.
- Ensure initial cost plans are sufficient to carry out the works to be undertaken.
- Produce full bills of quantities/estimates to provide client detailed budgets.
- On-screen take-off of quantities from drawings.
- Prepare tender packages for return of competitive bids for all scopes of work.
- Perform tender analysis to ensure value for money is achieved and that the works have been procured at the best market rates.
- Provide commercial and contract support through the construction stage of the project.
- Provide project controls support to align with the client’s needs and procedures.
- Communicate effectively with other staff members, third party stakeholders and the client
- Deliver all work outputs in an accurate and timely manner.
- Prepare change orders for client approval.
Skills on Resume:
- Cost Estimation using CostX Software (Hard Skills)
- Conceptual Estimating (Hard Skills)
- Quantity Take-off (Hard Skills)
- Tender Analysis (Hard Skills)
- Contract Management (Hard Skills)
- Project Controls (Hard Skills)
- Effective Communication (Soft Skills)
- Time Management (Soft Skills)
2. Cost Engineer, Orion Cost Management, Houston, TX
Job Summary:
- Prepare ad-hoc cost requests, such as cost analysis exercises and estimates for client options.
- Identify and propose value engineering options.
- Close out commercial issues, such as change orders and contract issues.
- Overall financial management of the project, including cost control, cost reporting and cost forecasting for the projected final cost and value of the project.
- Identify and manage risks to the projected final cost of the project.
- Prepare monthly interim valuations for payments.
- Forecast and monitor cash flow / accruals to ensure a positive cash flow is maintained.
- Assist in the reparation and agreement of final accounts, including the handling of any claims to ensure.
- Produce cost analysis feedback / lessons learnt for future works.
- Translate technical operations into a structured cost model
- Coordinating and developing project work-in-progress, commitment and estimate at complete forecasts.
- Coordinating and developing project annual-spend projections, cost reconciliations and variance analyses.
Skills on Resume:
- Cost Analysis (Hard Skills)
- Value Engineering (Hard Skills)
- Financial Management (Hard Skills)
- Risk Management (Hard Skills)
- Cash Flow Forecasting (Hard Skills)
- Contract Negotiation (Hard Skills)
- Strategic Planning (Soft Skills)
- Team Coordination (Soft Skills)
3. Cost Engineer, Quantum Construction Consultants, Denver, CO
Job Summary:
- Analyze plans and specifications for clients.
- Collaborate with small teams to develop accurate and complete cost estimates.
- Provide technical reviews of design, analysis, and specifications.
- Problem-solve any issues and monitor project budgets.
- Review and analyze sub-contractor invoices.
- Perform cost-to-complete analysis for all cost elements and provide progress reports.
- Review task orders for contractors and sub-consultants.
- Analyze change order and bid award values against current budget and prepare reconciliations.
- Responsible for cost assumptions and product KPIs related to the O&M phase of the lifecycle of wind farms to enable accurate, structured, and transparent decision basis for product, investment, partnering and divestments projects.
- Develop, maintain and improve cost models for the O&M phase in the wind farms life cycle (opex models)
- Ensure transparency in cost assumptions for projects
- Represent O&M in product, investment, partnering and divestment projects
- Link risk process to change process and estimate; provide cost input to and implement the cost element of the risk management plan.
Skills on Resume:
- Specification Analysis (Hard Skills)
- Cost Estimation (Hard Skills)
- Technical Review (Hard Skills)
- Budget Management (Hard Skills)
- Invoice Analysis (Hard Skills)
- Cost-to-Complete Analysis (Hard Skills)
- Risk Management (Hard Skills)
- Collaborative Problem Solving (Soft Skills)
4. Cost Engineer, Summit Cost Systems, Seattle, WA
Job Summary:
- Assisting with develop the project cost control strategy, plans and procedures, reflecting both company and subcontractor roles and responsibilities.
- Understanding how the contract type used (i.e. target price, fixed price etc.) can affect the total project cost.
- Participating in the development of project execution plans.
- Participating in the development of estimates and studies within a project stage and for sanction.
- Coordinating and develop appropriate control budgets consistent with project estimate.
- Ensure that all project costs are captured. Data gathering for reporting and analysis purposes
- Preparing monthly project performance reports.
- Collecting and compiling progress and cost data, and develop cost-control worksheets and reports for review by delivery teams.
- Providing cost input to closeout process.
- As part of the project close-out procedure, provide data to the Cost Estimators to assist with analysis of project costs (post final account) for future benchmarking.
- Coordinate preparation of cost risk analysis.
- Review financial data related to accruals, invoice payments, purchase orders and material deliveries and other financial data.
- Provide cost input to and implement the cost element of change management procedures.
Skills on Resume:
- Project Cost Strategy Development (Hard Skills)
- Contract Analysis (Hard Skills)
- Budget Coordination (Hard Skills)
- Cost Reporting (Hard Skills)
- Financial Data Review (Hard Skills)
- Risk Analysis (Hard Skills)
- Analytical Thinking (Soft Skills)
- Team Collaboration (Soft Skills)
5. Cost Engineer, Riverfront Engineering, Portland, OR
Job Summary:
- Evaluate and establish costs for new business using cross-functional data input
- Partner with cross-functional teams to ensure model input accuracy
- Administer cost databases and report monthly costing activities, status and turnaround time
- Document costing process changes and product details relevant to costing differentiation
- Build relationships with product engineering, sales, manufacturing and purchasing to gather costing inputs
- Be fully conversant with the generation, development and implementation of the AFE process as well as maintain the AFE log
- Provide independent reviews, assessment and analysis of Contractor progress and performance during Engineering, Procurement and Construction through to the Commissioning phase of the assigned scope
- Analyze current E1 financial information to assist in accrual preparation as well as cost forecasting
- Produce clear and concise summary cost findings based on analysis and assessment of current cost data and trends
- Interface and liaise with project personnel to ensure reports are accurate
- Highlight risks and opportunities as early as possible and recommend corrective actions
Skills on Resume:
- Cost Estimation (Hard Skills)
- Database Administration (Hard Skills)
- Cross-Functional Analysis (Hard Skills)
- AFE Process Management (Hard Skills)
- Financial Forecasting (Hard Skills)
- Relationship Building (Soft Skills)
- Critical Thinking (Soft Skills)
- Communication Skills (Soft Skills)
6. Cost Engineer - Projects, Sterling Cost Analysis, Charlotte, NC
Job Summary:
- Support the Project Manager by providing cost reports and regular updates as a result of implementing sound project controls principles and processes
- Develop and implement process for developing
- Monitoring commitments and incurred costs
- Forecasting and trending of costs
- Analyze project costs, forecast, and variances, and provide key findings to Project Managers
- Integrate schedules with cost control accounts for planning and execution
- Project change management including estimating cost impacts, trends, and etc.
- Coordinating data collection for physical progress for various control accounts
- Regular coordination with Project Managers, Schedulers, Finance & Cost Team Members
- Providing cost and integrated schedule control data to Project Management
- Participates and/or conduct project review meetings
- Ensuring compliance with Rio Tinto processes and procedures
- Ensure that the highest standard of safety performance is maintained by adherence to all Rio Tinto Kennecott (RTK) Zero Harm requirements on all occasions
- Manage and coordinate the use of cost control software and ensure alignment with RTK standards
Skills on Resume:
- Cost Reporting (Hard Skills)
- Cost Forecasting (Hard Skills)
- Project Change Management (Hard Skills)
- Data Analysis (Hard Skills)
- Schedule Integration (Hard Skills)
- Software Coordination (Hard Skills)
- Compliance Management (Hard Skills)
- Team Collaboration (Soft Skills)
7. Cost Engineer, Horizon Project Services, Miami, FL
Job Summary:
- Prepares supporting documentation (cost estimate/tooling budgets) for new project development milestones and all other product redesigns
- Provides analyzed cost data to Engineering, Marketing, and Finance for use in determining project direction, product pricing, parts pricing, budgeting P&L’s, and internal rate of return investment calculations.
- Provides direct interface to Engineering on process capability, materials utilization, and design alternatives to optimize value.
- Regular interaction with suppliers, plants, and other outside resources in order to retain leading edge knowledge of process’ available
- Provide leadership and initiative in the area of cost control, cost reduction, and standardization.
- Prepares and/or assists in project tooling budgets.
- Utilizes ROI models to ensure tooling investment returns are consistent with project goals.
- Support all costing activities throughout the life of the product, including acquisition, change management, sourcing, and serial production stages
- Report on progress of estimate generation and gap closure activities
- Support any VA/VE or Lean activities internally or at suppliers
- Work cross functionally to lead workshops at supplier plants to develop cost models and define action plans to close gaps
Skills on Resume:
- Cost Estimation (Hard Skills)
- Financial Analysis (Hard Skills)
- ROI Calculation (Hard Skills)
- Supplier Management (Hard Skills)
- Project Budgeting (Hard Skills)
- Cost Reduction Strategies (Hard Skills)
- Leadership (Soft Skills)
- Cross-Functional Collaboration (Soft Skills)
8. Cost Engineer, Pioneer Construction Analytics, Minneapolis, MN
Job Summary:
- Provide all aspects of project cost control, cost reporting, cost forecasting and project estimating for the contract
- Maintenance of project WBS, preparation and issue of costs reports, analysis of cost performance and variances, development of costs forecasts.
- Preparation of project cost estimates based on information provided
- Provide effective cost control and cost management in alignment with the WBS
- Establish project budgets in the cost management system in accordance with approved scope cost estimates
- Manage the assignment cost code allocations and initial budget set-up and approvals
- Develop and maintain project cost database and plans
- Prepare and issue monthly cost reports
- Support budget preparation, cost estimating and reporting
- Develops project norms based on local market
- Prepares and issues project cost estimates
Skills on Resume:
- Cost Forecasting (Hard Skills)
- Project Estimating (Hard Skills)
- Budget Management (Hard Skills)
- Cost Analysis (Hard Skills)
- Database Management (Hard Skills)
- Financial Planning (Hard Skills)
- Detail Orientation (Soft Skills)
- Strategic Thinking (Soft Skills)
9. Cost Engineer, Blue Ridge Cost Consulting, Richmond, VA
Job Summary:
- Ensure that all estimates are reviewed, checked and peer reviewed where applicable
- Interfaces with project engineers, construction personnel and organizational costumers to collect, update and reports all cost information for projects in assigned area
- Analyses project cost and schedule information and communicate performance and recommend corrective actions
- Records and monitors project cost commitments, including engineering effort, contracting activities and equipment and material procurement
- Cost Engineer Records and assists in quantifying the impact of project scopes changes
- Ensures financial close out of all Call Off Orders received from the customer
- Attend weekly progress meeting.
- Generate cost estimate targets for specific commodities
- Generate gap analysis for supplier pricing
- Support and/or lead cost based negotiations with suppliers
Skills on Resume:
- Cost Analysis (Hard Skills)
- Schedule Monitoring (Hard Skills)
- Financial Reporting (Hard Skills)
- Negotiation (Hard Skills)
- Project Coordination (Hard Skills)
- Stakeholder Communication (Soft Skills)
- Problem Solving (Soft Skills)
- Team Collaboration (Soft Skills)
10. Cost Engineer, Greenfield Engineering, Phoenix, AZ
Job Summary:
- Reviewing engineering plans and specifications to identify and quantify scope elements.
- Estimating costs for various scope elements at level of detail appropriate for scope definition.
- Prepare and analyze cost reports and costing audits.
- Analyzing uncertainty and risk factors associated with project cost estimates.
- Organizing cost data to support benchmarking, parametric estimating.
- Maintain communications and records of cost information and related cost estimating sources, cost indexes and references.
- Applying cost escalation factors to develop future expected costs.
- 5D estimating and other initiatives across the practice group.
- Demonstrate knowledge of commonly used concepts, practices and procedures in construction.
- Work as an integral member of project teams, and coordinate several projects concurrently
Skills on Resume:
- Engineering Analysis (Hard Skills)
- Cost Estimation (Hard Skills)
- Risk Analysis (Hard Skills)
- Data Organization (Hard Skills)
- 5D Estimating (Hard Skills)
- Communication Management (Soft Skills)
- Team Collaboration (Soft Skills)
- Project Coordination (Soft Skills)
11. Cost Engineer and Estimator, Summit Ridge Solutions, Philadelphia, PA
Job Summary:
- Analyze project scope and drawings to develop estimates
- Conduct research to develop and establish standard hour and related cost data
- Identify cost trends to assist management in cost reduction
- Help improve processes and procedures to streamline estimating efforts and improve efficiency
- Track and maintain all estimation(s) for further analysis
- Request quotes from 3rd party vendors if service must be outsourced to meet client demands
- Attend sales and management meetings
- Interface with clients on an as-needed basis to ensure clear understanding of project scope
- Training and support of LE entities globally is another challenge
Skills on Resume:
- Cost Estimating (Hard Skills)
- Market Research (Hard Skills)
- Data Analysis (Hard Skills)
- Process Improvement (Hard Skills)
- Vendor Management (Hard Skills)
- Meeting Facilitation (Soft Skills)
- Client Communication (Soft Skills)
- Global Team Support (Soft Skills)
12. Cost Estimating Engineer, Coastal Engineering Services, San Diego, CA
Job Summary:
- Receive, evaluate, and prioritize requests for quotations for sites in Finland and other sites
- Leverage designated team to create quotation, and facilitate the entire quotation process.
- Work with Engineeringin team to determine process flows, cycle times, scrap, and other manufacturing parameters to establish assembly cost and price, using established machine and labor rate
- Collaborate with Engineering team to establish costs for equipment / automation, and engineering time to reach milestones.
- Schedule and lead quote review meetings after all quotations are proofed for accuracy, consistency, and conciseness and prior to issuance to the customer.
- Provide accurate and timely transfer of information between Customer Service, Marketing and Sales and external customers, including various sites.
- Support Project Engineers, Program Managers and other staff with information pertaining to pricing strategies and/or risk analysis.
- Extended travel to other facilities may be required to support business needs.
- Support finance on costing rates calculations and implementations at each site in region.
Skills on Resume:
- Quotation Management (Hard Skills)
- Cost Analysis (Hard Skills)
- Project Scheduling (Hard Skills)
- Cross-Functional Collaboration (Hard Skills)
- Data Accuracy and Verification (Hard Skills)
- Communication Skills (Soft Skills)
- Team Leadership (Soft Skills)
- Adaptability to Travel (Soft Skills)
13. Cost Engineer, Skyline Cost Management, St. Louis, MO
Job Summary:
- Responsible for thoroughly managing the cost estimation of large international projects with a variety of estimation tools
- Research and have an understanding of the climate, location and potential impacts of each individual project
- Analyse budget, cost as well and quantity takeoff in relation to the specific teams by taking pertinent market information into consideration
- Develop/implement and maintain the Project Baseline Budgets including Responsibility Assignment Matrix, WBS Dictionary (SOW), SAP sales ordersand purchase requisitions.
- Responsible for the monitor, control and validation of project’s accruals and commitments and the control of resource and financial forecast data.
- Management and control of financial change management on the project and assurance of alignment with the business/contractual requirements, manage cost risk budget and drawdown as part of the risk management process.
- Provision of internal and external financial performance & cost reports including earned value and variation analysis.
- Management of the cash flow cycle, responsible for payment applications and raising invoices, resolving any payment issues.
- Self-contained preparation of cost estimates for all plant sizes
- Responsible for conceptual and mechanical pre-engineering
- Challenging cost inputs from support functions belongs to routines
- Take-over responsibility for internal tool landscape
Skills on Resume:
- Cost Estimation (Hard Skills)
- Market Analysis (Hard Skills)
- Budget Management (Hard Skills)
- Financial Forecasting (Hard Skills)
- SAP Proficiency (Hard Skills)
- Change Management (Hard Skills)
- Problem Solving (Soft Skills)
- Communication Skills (Soft Skills)