Senior Cost Engineer Engineering

Job Description

Parsons is looking for an amazingly talented Senior Cost Engineer to join our team! The Senior Cost Engineer is responsible for managing, tracking, and controlling project costs relative to the Infrastructure Assets delivery programme, ensuring compliance with applicable governance.

This role requires a deep understanding of cost estimation, budgeting, and cost control techniques, along with the ability to provide accurate financial reports and recommendations. The Senior Cost Engineer will work closely with project teams to ensure projects are completed on budget and deliver value to the client.

• Work closely with project managers and engineers to establish project budgets based on scope and technical requirements.
• Monitor and track project costs throughout the project lifecycle, ensuring expenditures remain within the approved budget.
• Review and analyze contracts, subcontracts, and purchase orders to ensure that they reflect accurate and appropriate cost structures.
• Assist in the negotiation and management of vendor contracts, ensuring the cost-effective delivery of services and materials.
• Monitor vendor performance, ensuring that costs are aligned with contract terms and that any deviations are addressed.
• Analyse cost variances, investigate discrepancies, and work with project teams to implement corrective actions when necessary.
• Collaborate with cross-functional teams to review cost implications of changes in project scope and ensure that the impacts are understood and managed.
• Prepare regular cost reports, including forecasts and financial statements, highlighting variances and trends, for senior management and stakeholders. Support the preparation of Earned Value Management (EVM) reports and other financial assessments.
• Evaluate and report on potential cost overruns and risks, recommending strategies for cost mitigation.
• Conduct detailed cost analysis, including labour, materials, equipment, and overhead, to ensure costs are aligned with project objectives.
• Identify and evaluate cost-related risks and assist in developing risk mitigation strategies. Provide input into project risk management processes and ensure that potential cost overruns are mitigated through proactive planning and monitoring.
• Provide recommendations on cost-effective solutions and identify cost-saving opportunities during the project lifecycle.
• Implement cost control systems and procedures, ensuring accuracy and timely reporting of project costs in compliance with governance requirements.
• Contribute to the development and implementation of cost management best practices and standardized processes across projects.
• Identify opportunities for improvements in cost estimation, tracking, and reporting processes.
• Implement lessons learned from previous projects to improve future cost estimation and control efforts.
• Mentor and train less experienced staff in cost management best practices and techniques.
• Assist the Cost & Change Control Manager with ad hoc tasks, as required.

• Graduate degree required (such as BSc, BA, or similar) in Engineering, Quantity Surveying, Cost Engineering, Project Management, or a related field; post-graduate degree or certifications in project management (e.g., AACE, PMP, RICS) preferred.
• Minimum 8 years of relevant experience required in cost engineering or cost management in large-scale projects, with at least 2 years in a senior role.
• Strong experience in cost estimation, budgeting, and cost control for projects in industries such as construction, engineering, oil and gas, or infrastructure.
• Familiarity with Earned Value Management (EVM) and other project performance measurement systems.
• Knowledge of industry-specific standards and regulations related to cost control and project management.
• Familiarity with risk management techniques, including risk analysis and mitigation strategies.
• Prior experience on the client’s and/or PMCM consultant’s side preferred, with knowledge of PIF Development Companies’ operating models highly desired.
• Prior experience on Airport / Infrastructure projects highly desired (but not mandatory).
• Strong understanding of…