Cost Engineer

WOOD GROUP; Sunbury-on-Thames; On-site; GBP 55,000 - 75,000; Full time

Benefits offered by this job

Meaningful projects

Diversity & Inclusion

Competitive salary

Flexible benefits package

Professional development

Global connections

Job summary

Wood, Sunbury-on-Thames, is seeking an experienced Cost Engineer on a full-time contract basis. You will prepare and report on project cost budgets, monitor expenditures, and support senior cost team members in robust cost control throughout the project life cycle.

You will liaise with procurement, finance and engineering teams to ensure accurate cost capture, reporting and forecasting in line with contractual requirements and Wood standards.

Qualifications

• Typically requires a Bachelor's degree in a technical or business discipline.
• Relevant cost experience with budgeting, forecasting and cash-flow.
• Proficient with cost software and project cost reporting.
• Understanding of WBS, CBS structures and project reporting capabilities.
• Experience with change management processes and cost control.

Responsibilities

• Develop and maintain Project Work Breakdown Structure (WBS) and Cost Breakdown Structure (CBS).
• Develop budgets in accordance with Basis of Estimate and client documents.
• Capture procurement, materials, subcontract and labour costs accurately.
• Ensure costs are allocated to the correct WBS and CBS across the project lifecycle.
• Provide cost forecasts and variance analyses to support decision making.
• Prepare cost reports and participate in project meetings.

Skills

Cost budgeting

Forecasting

Change management

WBS & CBS

Education

Bachelor's degree

Tools

Cost software

ERP systems

Job description

Job Description

Wood is currently looking for an experienced Cost Engineer to join us in our Sunbury office on a full time, contract basis.

Our Clients and Projects

Designing the future. Transforming the world.

Wood delivers solutions across more than 60 countries with local offices covering all major energy and materials hubs globally.

For more than 160 years, we have partnered with clients to deliver engineering, advisory and operational solutions to some of the world's most complex and critical challenges in energy and materials.

What we can offer

• Meaningful and interesting projects delivered to leaders of industry across emerging energy sectors
• Commitment to Diversity and Inclusion ; we are an organisation actively committed to diversity and inclusion across our business
• Competitive salary with regular salary reviews to ensure we are rewarding at the right level in line with the market
• Flexible benefits package ; inclusive of 33 days annual leave (including public holidays), generous contributory pension scheme, private medical cover, 4x base salary life insurance; all of these and more that can be adapted to suit your own lifestyle
• Commitment to continued professional development; development plans that are tailored to your individual needs and interests
• Global connections : join experts around the world who are at the leading edge of our industry, shaping the standards of our profession

The role

As a Cost Engineer, you will prepare and report on project cost budgets, and the tracking, management and reporting of project expenditure to enable robust control of projects throughout their life cycle. You will support senior members of the cost team through the preparation and reporting of project cost budgets, ensuring budgets and reports are prepared to the required level of detail and accuracy in accordance with contractual requirements and Wood policies, procedures and standards. This will typically involve the review, analysis and reporting of actual and forecasted project costs against the project approved budget.

Responsibilities

• Develop, issue and maintain Project Work Breakdown Structure (WBS) and Cost Breakdown Structure (CBS) for specific scopes
• Liaise with other Project Controls disciplines and functions, assist and support in the development of project budgets in accordance with the Basis of Estimate including statements of work scope, assumptions, man-hour estimates, narratives and review & comment of client documents
• Liaise with procurement, finance and time-capture functions, and third parties as required, to ensure accurate and timely capture of procurement, materials, subcontract and labour manhour costs
• Ensure costs are allocated accurately in accordance with approved project WBS
• Liaise with engineering, procurement and construction functions, and others as required, to maintain awareness of project activities and their impact on the project budget, schedule and cost forecast
• Facilitate and manage the project work approval process in terms of accurate cost code allocation and initial budget set-up and approvals
• Develop and maintain project cost budgets using appropriate software applications
• Monitor and control cost commitments and expenditures through all phases of project lifecycle
• Liaise with planning as required to ensure accuracy in project cost phasing and forecasting
• Prepare and provide project cost performance reports in accordance with project reporting requirements
• Prepare and issue updates to project cost forecasts
• Monitor and report on cost impact of project manpower forecasts
• Develop and issue project change orders / variations in accordance with engineering and construction change notifications
• Facilitate and communicate cost and schedule impact of change notifications
• Monitor overall project cost performance and contingency drawdown
• Attend project meetings as required
• Coordinate the project cost close-out process

Qualifications

What makes you remarkable?

At Wood, we are committed to equal opportunities and welcome all talented individuals to consider joining our team. So even if you don't match every statement below but feel you have some of the experience, knowledge or skills needed for this role, we encourage you to apply. It will take all of us working together to deliver solutions to the world's most critical challenges.

• Typically requires ISCED level 6 (Bachelors) Degree in a relevant technical or business discipline (or equivalent gained through relevant vocational training and/or industry experience)
• Incumbents will typically have relevant cost experience
• Proficient knowledge of cost software and related principles, tools and techniques including budgeting, forecasting and cash-flow
• Proficient knowledge of Project Execution Procedures for Cost Management including Change Management
• Proficient understanding of WBS & CBS structures and project reporting capabilities
• Proficient ability to develop project cost budgets and change estimates
• Proficient ability to prepare cost reports
• Understanding of change management and associated cost and schedule processes
• Understanding of earned value application, cost and schedule variance analyses/trending and what-if scenarios
• Understanding of project management principles and techniques
• Understanding of Cost Management, Change Control, Planning & Risk Analysis & Management

About Us

Wood is a global leader in consulting, engineering and operations for the energy and materials sectors. With 33,000 people in around 50 countries, Wood supports clients across the full asset lifecycle, delivering safe, predictable outcomes while enabling resilient operations and a lower carbon future. Wood forms the Energy & Materials pillar of Sidara - a global partnership uniting leading multidisciplinary engineering, design, and project management companies. www.woodgroup.com

Diversity Statement

We are an equal opportunity employer that recognises the value of a diverse workforce. All suitably qualified applicants will receive consideration for employment on the basis of objective criteria and without regard to the following (which is a non-exhaustive list): race, colour, age, religion, gender, national origin, disability, sexual orientation, gender identity, protected veteran status, or other characteristics in accordance with the relevant governing laws.