Cost Engineer

Overview

The Cost Engineer is responsible for managing and verifying the internal costing process for all Bills of Quantities (BOQs) related to engineering services throughout the organization. This position ensures that vendor and contractor cost submissions are thoroughly evaluated, benchmarked against established criteria, and justified prior to approval, thereby protecting organizational expenditures.

Key Responsibilities

• Manage the internal costing process for all engineering service BOQs submitted by vendors and contractors.
• Carefully examine, interpret, and analyze BOQs to confirm scope accuracy, quantity correctness, and pricing assumptions.
• Independently validate or contest vendor-provided costs using well-documented benchmarks and estimates.
• Create and update detailed cost models and estimation templates using Microsoft Excel tailored for engineering and maintenance projects.
• Compare vendor pricing against historical data, industry standards, and prevailing market rates to detect any inconsistencies or excessive pricing.
• Work collaboratively with Engineering, Maintenance, and Procurement departments to confirm technical scopes pre-costing.
• Deliver timely costing assistance for planned projects, including large-scale undertakings and Turnaround Maintenance (TAM) activities.
• Prepare clear and comprehensive costing reports and advisories that facilitate procurement decisions and negotiation processes.
• Highlight any cost deviations, unusual pricing trends, or mismatches in scope to appropriate internal stakeholders.
• Contribute to ongoing enhancements of costing methodologies, tools, and internal standards.
• Maintain organized records of historical costing information for future reference and benchmarking purposes.

Qualifications

• A Bachelor’s degree in Mechanical, Electrical, Civil Engineering, Quantity Surveying, or related fields.
• 3 to 5 years of practical experience in costing, cost engineering, quantity surveying, procurement, or similar roles, preferably in manufacturing, industrial, or engineering settings.
• Proven experience in reviewing and pricing Bills of Quantities for engineering or maintenance projects.
• Experience with Turnaround Maintenance (TAM) costing is advantageous.
• Professional memberships or certifications from bodies such as AACE, PMI, ACEN, or COREN are a plus.

Skills and Competencies

• Advanced skills in Microsoft Excel, including complex formula development, cost modeling, and analytical data handling.
• Strong aptitude for interpreting technical engineering documents and Bills of Quantities.
• Excellent analytical and numerical capability with meticulous attention to detail and precision.
• Competency in independently evaluating and defending cost assessments with data-backed reasoning.
• Good understanding of engineering cost principles, market-based pricing, and estimation techniques.
• Effective communication skills, both oral and written, to prepare reports and interact with vendors and internal teams.
• High ethical standards and objectivity due to the role's need for unbiased cost validation.
• Capability to perform under pressure and adhere to tight deadlines, particularly during major maintenance operations.

Collaborations

• Internal liaison with Procurement, Engineering, Maintenance, Finance, and Project departments.
• External interaction with vendors, contractors, and service providers submitting engineering service BOQs.