Cost Engineer in Staines-upon-Thames

Location: Staines-upon-Thames
Salary: Hidden
Recruiter: Wood
Job Hours: Full-time

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The cost engineer shall 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.

  • Assist in the development and maintenance of Project Work Breakdown Structure (WBS) and Cost Breakdown Structure (CBS),
  • Assist and support in the development and maintenance of project cost budgets,
  • Liaise with internal and third parties to ensure accurate and timely capture of procurement, materials, subcontract and labour manhour costs in accordance with project WBS,
  • Liaise with engineering, procurement and construction functions to maintain awareness of project activities and their impact on the project budget, schedule and cost forecast,
  • Facilitate and manage cost code allocation and initial budget set-up and approvals,
  • Monitor and control cost commitments and expenditures,
  • Liaise with planning personnel to ensure accuracy in project cost phasing and forecasting,
  • Prepare project cost performance reports and updates to project cost forecasts,
  • Monitor and report on cost impact of project manpower forecasts,
  • Evaluate and communicate the cost and schedule impacts of change notifications,
  • Monitor overall project cost performance and contingency drawdown,
  • Participate in the project cost close-out process,
  • Attend cost & estimate risk analysis sessions as required,
  • Participate in Project Controls Compliance and Continuous Improvement Reviews.
  • Knowledge of cost control principles including budgeting, forecasting and cash-flow,
  • Understanding of WBS & CBS structures,
  • Ability to develop project cost budgets and change estimates,
  • 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,
  • Team player with a willingness to share ideas with multi-disciplinary team members,
  • Demonstrable interpersonal, written and oral communication skills,
  • Proven numerical, analytical and literacy skills with a strong attention to detail.

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