Cost Engineer

Description

The Cost Engineer is responsible for developing, monitoring, analyzing, and forecasting project costs throughout the lifecycle of infrastructure, aviation, transportation, facilities, and capital improvement projects. This role provides leadership in cost estimating, budgeting, forecasting, cost control, change management, risk analysis, and project performance measurement to support successful project delivery.

The Cost Engineer works closely with project managers, construction managers, contract managers, designers, contractors, consultants, and client stakeholders to ensure projects are properly budgeted, financially managed, and aligned with established cost objectives. The position plays a critical role in maintaining project financial health, identifying cost risks, evaluating trends, and supporting informed decision-making throughout project execution.

All duties shall be carried out in compliance with client policies and procedures, applicable regulations, and company standards.

• Develop conceptual, preliminary, design-phase, and construction cost estimates for infrastructure and capital projects.
• Prepare quantity takeoffs, estimate analyses, and cost evaluations using industry-standard estimating practices.
• Support development of project budgets, funding requirements, and capital improvement plans.
• Review estimates prepared by consultants, designers, contractors, and third-party estimators.
• Evaluate estimate assumptions, contingencies, escalation factors, and risk allowances.
• Develop independent cost estimates to support procurement and contract negotiations.

• Establish project cost baselines and budget structures.
• Develop cost management plans and forecasting methodologies.
• Monitor project expenditures against approved budgets and funding allocations.
• Prepare monthly cost forecasts and estimate-at-completion projections.
• Identify potential budget variances and recommend corrective actions.
• Support long-range financial planning and funding strategies.

• Track project commitments, expenditures, accruals, and obligations.
• Analyze cost performance and identify emerging financial risks and opportunities.
• Monitor budget utilization and project cash flow.
• Develop and maintain cost tracking systems and reporting tools.
• Evaluate contractor cost proposals and financial impacts associated with project decisions.
• Support implementation of corrective measures to maintain budget compliance.

• Coordinate cost management activities with project schedules, risk management, and performance reporting processes.
• Support development and maintenance of Work Breakdown Structures (WBS), cost codes, and control accounts.
• Perform cost and schedule integration analyses.
• Monitor project performance metrics and key performance indicators.
• Support earned value management and trend analysis where applicable.
• Participate in project controls reviews and reporting activities.

• Analyze cost impacts associated with scope changes, design revisions, and unforeseen conditions.
• Review and evaluate change orders, contract modifications, and potential project impacts.
• Develop independent cost assessments for proposed changes.
• Collaborate with project and contract management teams to support change negotiations.
• Monitor cumulative change impacts and cost exposure throughout the project lifecycle.
• Maintain change logs and associated financial documentation.

• Support development and maintenance of project risk registers.
• Evaluate potential financial impacts associated with project risks and uncertainties.
• Develop contingency recommendations based on…