Cost Engineer II

Job Summary

The Cost Engineer II manages project costs, forecasts, commitments, changes, and financial reporting for a portfolio of capital projects.

This role works closely with project managers, planners, contractors, Finance, and Supply Chain to ensure project cost information is accurate, current, and aligned with the project schedule. The Cost Engineer II works with a moderate level of independence, resolving day-to-day cost issues and escalating complex matters as needed.

The role engages directly with budget holders and project leadership to support sound business decisions and effective stewardship of project funds.

• Maintain budgets, commitments, actual costs, Value of Work Done (VOWD), cash-flow phasing, accruals, and forecasts aligned to the project Work Breakdown Structure (WBS).
• Prepare and review monthly Forecast Final Cost (FFC) reports and explain significant variances.
• Ensure cost forecasts align with project schedules and actual work progress.
• Flag cost issues to the project team early and propose solutions.
• Support monthly, quarterly, and semiannual forecasting and estimating processes.

• Track approved and pending changes, risks, threats, and opportunities in the cost tool.
• Confirm budget changes and trends are documented and approved to maintain an accurate cost estimate and history of project performance.
• Support the Project Controls Supervisor in running the change management process.
• Verify the correct coding of purchase orders, contracts, invoices, and estimates, and maintain required cost logs and registers.
• Follow PEMEX Deer Park cost engineering and project-control procedures.

• Maintain accurate cost information within SAP and other project-control systems.
• Prepare monthly, quarterly, and periodic cost reports for project teams, budget holders, and senior stakeholders.
• Work with planners, project delivery managers, and the central cost team to explain variances against previous submissions.
• Support reporting improvements and digital initiatives.
• Capture cost data for use in future benchmarking and estimating.

• Ensure contractors meet the cost control requirements set out in their contracts.
• Review contractor estimates, man-hour budgets, scope changes, and budget revisions.
• Review contractor and supplier invoices and supporting documentation for payment.
• Maintain cost documentation and records for audits and cost recovery.
• Support benchmarking and contractor, subcontractor, and vendor reviews and audits.

• Work with project managers, planners, Finance, Supply Chain, and contractors to resolve cost issues.
• Represent the cost function in project and functional meetings and workshops.
• Support annual financial planning activities, including year-end close, budget rollovers, forecast resets, and project closeout, to ensure accurate financial reporting and proper disposition of project costs.
• Support project closeout, including final cost validation, settlement readiness, capitalization, and residual balance resolution.

• As part of a small cost team, this role may be required to support other cost or finance activities across capital projects, turnaround, and non-routine maintenance, either temporarily or permanently, as business needs evolve.
• Provide informal guidance to Cost Analysts and Cost Administrators on process and system matters.

• Manage approximately 30-35 capital projects in different phases.
• Complete forecasting and cost reviews within condensed monthly deadlines.
• Work effectively in a demanding refinery and turnaround environment.

• Cost Control:Applies cost engineering principles…