Construction Cost Engineer

Job Summary:

The Construction Cost Engineer is responsible for estimating, monitoring, and controlling costs throughout the lifecycle of construction projects. This role involves analyzing project specifications, preparing detailed cost estimates, conducting cost-benefit analyses, and ensuring that targets are met while adhering to project timelines and quality standards.

Key Responsibilities:

Cost Estimation:

• Prepare detailed cost estimates for construction projects based on project specifications, drawings, and design documents.
• Analyze historical data and trends to inform accurate cost projections.
• Collaborate with architects, engineers, and project managers to gather necessary cost data.

Budget Management:

• Develop and maintain project budgets, ensuring all costs are tracked and managed effectively.
• Monitor expenses and prepare regular reports on budget performance, cost variances, and forecasts.

Cost Control:

• Implement cost control processes and systems to monitor project expenditures.
• Identify cost overruns and recommend corrective actions to keep the project within budget.
• Conduct regular audits of project costs to ensure compliance with financial and contractual obligations.

Quantity Takeoff:

• Conduct quantity takeoffs from construction drawings to estimate material requirements.
• Prepare detailed quantity reports for project stakeholders.

Contract Management:

• Assist in the preparation and negotiation of contracts with clients and subcontractors.
• Review and analyze contract terms to identify potential risks and cost implications.
• Collaborate with legal and procurement teams to resolve contract disputes related to cost.

Risk Management:

• Assess project risks and understand their potential impact on costs and timelines.
• Develop strategies to mitigate identified risks related to cost overruns and financial losses.

Reporting:

• Prepare and present detailed reports on cost estimates, budget performance, and financial forecasts to project stakeholders.
• Use software tools and systems for cost reporting and project financial management.

Collaboration:

• Work closely with project teams, including procurement, scheduling, and finance, to ensure effective communication regarding cost matters.
• Liaise with clients to provide updates on costs, budget adjustments, and project changes.

Continuous Improvement:

• Stay current with industry trends, construction methods, and technologies to enhance cost estimation processes.
• Participate in post-project evaluations to analyze cost performance and improve future estimating practices.

Communication:

• Communicate project costs, budgets, and schedules to project stakeholders, including clients, contractors, and internal teams.
• Provide technical guidance and support to project teams to ensure compliance with company policies and procedures.

Required Skills and Qualifications:

• Education: Bachelor’s degree in construction management, Civil Engineering, Quantity Surveying, or a related field.