Cost Engineer

Turner Townsend; City of Westminster; On-site; GBP 50,000 - 70,000; Full time

Job summary

A leading consultancy firm in the UK is looking for an experienced Cost Engineering Professional. The candidate will establish processes for monitoring cost and schedule performance, lead project evaluations, and act as a primary point of contact for clients. Responsibilities include guiding contractors, ensuring project timelines and quality targets are met, and creating executive financial dashboards. This role requires strong skills in cost management and the ability to navigate procurement principles.

Qualifications

• Experience in cost engineering and project management.
• Ability to understand and apply change management principles.
• Strong financial analysis skills to assess project costs.

Responsibilities

• Establish required processes and agree the baseline for cost and schedule.
• Identify trends and root causes of deviations against the baseline.
• Lead evaluation of project's time, cost, and quality targets.
• Guide and influence the general contractor to ensure progress.
• Act as the key point of contact to the client, managing delivery issues.

Skills

Cost engineering

Change management

Risk management

Project scheduling

Financial analysis

Governance controls

Job description

As an experienced Cost Engineering Professional you will establish the required processes, templates and tools, and agree the baseline for cost and schedule, whilst monitoring performance against it and incorporating the impacts of risk, opportunities and change in a controlled manner. In order to do this you will:-

• Identify trends and root causes of deviations against the baseline using lead and lag indicators, recommend remedial actions in order to drive best value for the client.
• Lead the evaluation of the project's time, cost, and quality targets, applying governance controls as necessary to enable the successful delivery of the project.
• Cooperate with a remote team of cost managers responsible for reaching an agreed, market tested cost baseline and ensuring the client is receiving value for money.
• Guide and influence the general contractor, ensuring they are progressing in line with the schedule and within agreed cash flow parameters.
• Act as the key point of contact to the client overcoming delivery and commercial issues whilst preparing formal and ad hoc reports focussing on time, cost and quality targets.
• Control costs with your knowledge of conceptual estimating, funding stage gates, basic contingency principals, procurement principals.
• Create and/or work within a cost report, summarizing financials in a executive level dashboard.
• Understand change management principals, lead agreed change management process and work flow, providing a platform for adding/tracking/monitoring/approving change.
• Coordinate and lead planning sessions and workshops with clients and vendors to compile the master project/programme schedule, agreeing baselines and a critical path.
• Understand procurement principals, collate lead times from vendors and client into the master schedule communicate the prioritisation of ordering materials and equipment to meet scheduled install dates.
• Work closely with the client to define vendor schedule requirements.
• Actively participate in project team risk evaluations, incorporating the defined risks into monte carlo to output quantitative impacts to the overall project cost and schedule.
• Work closely with the project team to stay informed on status of project changes, incorporating and communicating these to the project team to allow for approvals in the change management process.
• Hold vendors accountable for required schedule updates and reporting to maintain timely and accurate updates of the master schedule ensuring that the schedules adhere to the defined process and quality expectations.