Cost Engineer

Overall purpose of role

The Cost Engineer will support—and lead when required—the cost function, ensuring that all commercial project-related activities are conducted in accordance with company policies and procedures.

Primary responsibilities, authorities & accountabilities

• Responsible for personal safety and adherence to the provisions and guidelines of HSEQ processes.
• Ensure effective communication between the cost function and key stakeholders.
• Ensure compliance with cost function processes, regularly reviewing them to maintain fit-for-purpose and simple solutions.
• Prepare a budget breakdown from the Project Estimate Document (PED) based on tasks and allocations; review with the Projects Team and upload into Compass.
• Maintain the Oracle systems to support project cost management.
• Prepare invoices according to contract milestones or agreed payment terms, with all relevant supporting documentation; assist finance in following up on client payments.
• Update the project cash flow in coordination with the Project Manager; submit to finance as required, highlighting any major deviations or variances from the initial project cash profile.
• Prepare cost estimates and assess the impact of changes; monitor actual costs for all project changes.
• Update and compile contract cost reports across the portfolio, including but not limited to Value of Work Done (VOWD), Forecast to Go, Estimate at Completion, Variance Analysis, and provide meaningful commentary on variances and cash position.
• Liaise with engineering, procurement, construction, and other functions to maintain awareness of project activities and their impact on the project budget and phased cost forecast.
• Participate in project cost performance meetings as required.
• Support the project cost close-out process and ensure the project balance sheet is cleared.
• Prepare monthly project review cost presentations for Project Management Team (PMT) review.
• Attend Client Project Controls monthly meetings as required.
• Provide updated project budgets and revenue details for business unit budget forecasting.
• Demonstrate commitment to the Company and Client’s Core Values.
• Committed to continuous improvement.
• Exhibit excellent communication and interpersonal skills.
• Ensure compliance with applicable HSES policies and procedures.

Attainment

• Minimum of 5 years’ experience, preferably in major oil and gas projects.
• At least 3 years’ experience in a Cost Engineer role.
• Degree qualification in Cost Management, Quantity Surveying, Engineering, or a related field.
• Advanced Excel skills, along with experience in cost estimation and risk analysis software.
• Thorough understanding of project execution processes with the ability to interpret contract terms, conditions, and specifications.
• Familiarity with total cost management techniques and established cost engineering practices.