Cost Engineer

PURPOSE

The Sr. Cost Engineer will aid the Project Engineering Team in managing, reporting and controlling the overall project cost effort. The Cost Engineer will also be responsible for recording business activities and prepare periodic financial reports that inform Senior Management about project progress.

RESPONSIBILITY

• Support the delivery of consistent but appropriate cost management structures for capital projects. 
• Create and maintain project WBS structures in SAP
• Support the development of project Cost Breakdown Structures (CBS) and their population from the estimate
• Ensure that purchase orders and work orders are setup in accordance with established WBS structures and project estimate
• Perform monthly SOX control review of project open commitments and actual costs to identify any misallocation of costs, unauthorized or incorrect capitalization of labor or overheads, and expenditures to ensure posting to the appropriate WBS elements
• Complete / Calculate / Verify monthly updates of Value of Work Done in SAP to post accruals
• Work closely with project team to develop project expenditure flow forecast and update monthly.  Maintain and promote realism in the cost forecasts in the face of commercial pressure and optimism from the project teams
• Complete monthly forecast updates to maintain accurate reporting of Latest Estimate/Estimate at Completion
• Ensure project team follows Change Management Procedures and guidelines 
• Develop and implement project contingency drawdown plans
• Monitor commitments and actuals on a regular basis to ensure expenditures are in accordance with plans
• Utilize project schedules and earned value reporting to understand impact on project cost
• Ensure timely and accurate preparation of monthly project cost reports. Lead monthly project review meetings and assist Project Cost Controls Lead in reviewing monthly reports
• Ensure project closeout is completed in a timely manner following mechanical completion 
• Assist with the roll-out of emerging company standard tools and processes and apply them on projects
• Support / complete project completion evaluations
• Ability to work closely with project scheduling to verify field progress
• Participation in constructability reviews and contracting strategy development, as well as other project front end development activities

 

 

 

 

 

 

PRINCIPAL ACCOUNTABILITY

• Ensure that the correct project cost information is reflected in the cost reports (i.e. not just simply forecasting the project’s current approved funding level)
• Work with the Project Engineer to accurately develop and predict the Estimate at Completion (EAC). This includes trending / forecasting at the WBS level monthly utilizing actual cost data, earned value progress and productivity data
• Knowing the current project expended and committed cost data information in relationship to the authorized budget and informing the Project Engineer and Project Controls Manager should the forecast indicate an over/under run

AUTHORITY

The position functionally reports to the Project Cost Team Lead.  Routine co-workers will be the Project Engineers, Construction team, schedulers and Estimators.

COMPETENCES REQUIRED

• Must have legal authorization to work in the US on a full-time basis for anyone other than current employer
• A Bachelor’s degree and minimum of five (5) years refining, manufacturing, or petrochemical experience supporting capital projects
• Proficient using MS Office suite of software including the use of pivot tables, VLOOKUP formulas, charts and linking capabilities
• Basic understanding of Project Controls
• Proficient using MS Office suite of software (Excel, Power Point, Outlook) including the use of pivot tables, vlookup, charts, and linking capabilities
  • Strong working knowledge of SAP Project Systems module, including Work Breakdown Structures (WBS)

With over 90 years' combined experience, NES Fircroft (NES) is proud to be the world's leading engineering staffing provider spanning the Oil & Gas, Power & Renewables, Chemicals, Construction & Infrastructure, Life Sciences, Mining and Manufacturing sectors worldwide. With more than 80 offices in 45 countries, we are able to provide our clients with the engineering and technical expertise they need, wherever and whenever it is needed. We offer contractors far more than a traditional recruitment service, supporting with everything from securing visas and work permits, to providing market-leading benefits packages and accommodation, ensuring they are safely and compliantly able to support our clients.