Cost Engineer

About Us JOB OVERVIEW Prime Infra is seeking experienced Cost Engineers to join our site-based Project Controls teams supporting major infrastructure projects. The role manages project cost control activities, including cost monitoring, forecasting, analysis, reporting, and risk management throughout the project lifecycle.

Working closely with Project Controls, Commercial & Contracts, Finance, Procurement, Engineering, Construction, the Owner’s Engineer, and EPC Contractors , the Cost Engineer reviews cost submissions, monitors project performance, manages cost changes and risks, supports claims evaluation, and provides reliable cost information for project decision-making.

Key Responsibilities Cost Management

• Maintain the cost engineering and cost control function for the assigned project.
• Maintain the approved project budget and Cost Breakdown Structure (CBS).
• Monitor commitments, actual costs, accruals and forecast expenditure.
• Ensure project cost information remains accurate, complete and current.
• Develop and maintain project cost reporting systems.
• Coordinate cost information from Engineering, Procurement, Construction, Commercial, Contracts and Finance teams.
• Ensure all project cost reporting complies with project procedures and reporting requirements.

Cost Monitoring, Analysis and Reporting

• Monitor project expenditure against approved budgets.

• Analyse cost performance including:

• Budget versus Actual Cost

• Budget versus Forecast

• Current Forecast versus Previous Forecast

• Commitments versus Budget

• Accruals versus Actual Expenditure

• Identify cost trends and emerging financial issues.

• Investigate cost variances and validate findings with responsible stakeholders.

• Identify the root causes of cost movements.

• Recommend practical corrective actions to improve project cost performance.

• Prepare accurate weekly and monthly cost reports.

Forecasting and Estimate at Completion

• Prepare and maintain Estimate to Complete (ETC).
• Prepare and maintain Estimate at Completion (EAC).
• Develop reliable project cash-flow forecasts.
• Forecast final project costs based on actual performance, commitments, approved changes, procurement status and construction progress.
• Continuously review forecast accuracy.
• Monitor forecast movement between reporting periods.
• Support funding requirement projections.
• Advise the Project Controls Manager of potential cost overruns before they occur.

Progress and Planning Integration

• Coordinate closely with Planning Engineers to ensure physical progress aligns with project cost reporting.
• Validate reported progress against actual work completed.
• Support Earned Value Management where implemented.
• Analyse productivity trends affecting project cost.
• Assess the financial impact of schedule delays, acceleration and recovery activities.
• Ensure planning updates are reflected within project cost forecasts.

Change Management and Commercial Cost Control

• Monitor approved and pending change orders.
• Assess the financial implications of project variations.
• Maintain project change registers relating to cost.
• Monitor contingency utilisation.
• Identify potential commercial exposure.
• Support Commercial and Contracts teams during cost evaluations.
• Assist with value engineering and cost optimisation initiatives.

Cost Risk Management

• Identify project cost risks and opportunities.
• Maintain project cost risk registers.
• Assess financial exposure associated with technical, procurement, construction and commercial risks.
• Monitor contingency requirements.
• Ensure approved mitigation measures are reflected within project forecasts.
• Escalate emerging financial risks to the Project Controls Manager.
• Support project risk workshops where required.

Contractor and Owner's Engineer Interface

• Act as the primary project cost engineering interface with the EPC Contractor and Owner's Engineer.
• Review contractor cost reports and supporting documentation.
• Validate contractor forecasts against physical progress and procurement status.
• Participate in monthly cost review meetings.
• Resolve discrepancies in reported project costs.
• Challenge unsupported contractor assumptions and cost forecasts.
• Ensure contractor reporting satisfies contractual requirements.

Claims Support

• Support the evaluation of contractor claims.
• Assess the financial implications of delays, variations and change orders.
• Maintain records of submitted and approved commercial changes.
• Provide cost analyses supporting commercial assessments.
• Assist Contracts and Commercial teams during negotiations.
• Maintain accurate records supporting claim evaluations.

Project Reporting

• Prepare project cost reports and dashboards.
• Report on:
• Budget Performance
• Actual Costs
• Commitments
• Accruals
• Forecast Final Cost
• Estimate to Complete
• Estimate at Completion
• Cash Flow
• Cost Variances
• Contingency Utilisation
• Cost Risks
• Commercial Exposure
• Key Management Actions
• Present project cost performance during project review meetings.
• Provide clear explanations of cost trends and forecast changes.
• Escalate significant financial concerns promptly.
• Support the Project Controls Manager, Project Manager and Project Director with reliable cost information.

Requirements

• Bachelor's Degree in Engineering, Quantity Surveying, Construction Management, Commerce, Finance or another relevant discipline.
• Formal Project Management or Project Controls qualification.
• Project Management Professional (PMP) will be advantageous.
• AACE Certified Cost Professional (CCP), Certified Cost Technician (CCT) or equivalent cost engineering qualification will be highly regarded.
• Minimum10–15 years' experiencein Cost Engineering, Cost Control or Project Controls on major capital projects.
• Proven experience preparing EAC, ETC and cash-flow forecasts.
• Strong understanding of budgeting, forecasting, commitments and accruals.
• Demonstrated experience reviewing contractor cost reports.
• Practical experience integrating cost with planning and scheduling.
• Strong analytical and commercial skills.
• Advanced Microsoft Excel capability.
• Excellent communication and stakeholder management skills.

Highly Desirable Experience Includes

• Hydropower or Pumped Storage Hydropower projects.
• Major dams, tunnelling or underground construction.
• Large infrastructure projects.
• EPC, EPCM, Owner's Engineer or Owner's Team environments.
• Earned Value Management.
• Cost Risk Analysis.
• SAP, EcoSys, PRISM, Cleopatra or equivalent cost management systems.
• Power BI reporting.
• AACE Recommended Practices.