Cost Engineer

Working Location  London

Contract Type

Duration/End: 31st January 2028

Client

Leading Global Energy Operator

Job Purpose

The role of the Cost Engineer provides advisory support to the project management team related to all the cost related activities. The candidate will act as the interface between the Business Team and the rest of the team.

Key Responsibilities and Duties

• Communicate assigned project issues and concerns directly to Project Manager, Senior Cost Engineer and Business Administrator.
• Develop and maintain cost reports, cash flow and contingency analyses for individual projects.
• Administer Change Orders and Bid box as required by procedure.
• Estimate costs of positive and negative scope changes and assess impact on total project cost; work with estimators to get assistance if needed.
• Ensure accurate reflection of committed and spent funds, Change Alerts, Project deviation notices, field change orders, and project execution changes in all cost documents relating to the construction phase.
• Assist with managing existing and amended AEL values.
• Liaise with Human Resource Department to monitor office space which is billable to the project as required to ensure that the project is not billed for space not being used.
• Derive an accurate and realistic forecast of all funds required to complete the project within the defined budget and schedule while incorporating own trending and analysis, and consult with the Project Manager prior to publishing.
• Ensure accurate representation of cost data in weekly, monthly and ad hoc reporting.
• Alert Coordinating Cost Management Office and Business Management Office and the project team to critical Cost Management issues.
• Provide assistance for additional cost management related studies and scenarios if required.
• Prepare and update monthly project updates (MPU).
• Review Contractor Progress Payment Certificates for Engineering, Procurement and Construction.
• Process Service Entry Sheets through SAP once the invoice is approved.
• Create purchase orders and carry out WBS corrections through SAP.
• Monitor, analyze and verify project Controllable Costs on a monthly basis through the Operating Statement Dashboard.
• Verify project cost allocation, WBS structures and financial coding accuracy within SAP.
• Review and validate contractor invoices, commitments and accruals against approved CAPEX and project progress.
• Manage change following the process from COR to settlement.

Requirements

Educational and Technical Requirements

• Undergraduate degree in a relevant discipline.
• 5-10 years experience in the Cost Management field.
• Experience on large-scale capital projects.
• Capacity for analysis and strong skills for desktop applications.
• Good knowledge of English, both written and verbal.
• Mega Capital Projects experience preferred.

Competencies

• Adapt and Learn
• Plan and Organize
• Analyze and Solve problems
• Communicating openly and effectively
• Excellence and drive for results