Cost Engineer

JOB SUMMARY:

The Cost Engineer is responsible for monitoring, controlling, and aligning project costs with approved budgets, ensuring financial discipline throughout the project lifecycle. This includes budget validation, realignment, forecasting, and cost optimization.

KEY RESPONSIBILITIES:

A. Cost Planning and Budget Structuring

1. Establish and maintain cost breakdown structures (CBS) aligned with WBS.
2. Validate approved budgets against the project scope and execution plan.
3. Ensure proper cost coding and allocation across project components.

B. Budget Alignment

1. Ensure continuous alignment of project costs with the approved budget.
2. Perform budget realignment based on approved changes, design development, and project conditions.
3. Recommend budget adjustments to reflect realistic execution scenarios.
4. Track and manage budget transfers, reallocations, and contingency usage.
5. Coordinate with the Project Manager and Tendering Division for budget approvals and revisions.

C. Cost Monitoring and Control

1. Track actual costs vs. budget and commitments.
2. Monitor expenditures, accruals, and cost allocations.
3. Maintain cost control systems and tools.
4. Ensure cost discipline across all project phases.

D. Forecasting and Reporting

1. Prepare cost forecasts (Estimate at Completion).
2. Identify cost trends, risks, and opportunities.

E. Variance Analysis

1. Analyse deviations between planned, actual, and forecasted costs.
2. Provide root cause analysis and corrective actions.
3. Highlight risks requiring budget realignment.

F. Change and Claims Support

1. Evaluate the cost impact of variation orders and claims.
2. Maintain change logs and ensure budget adjustments are captured.

G. Coordination and Stakeholder Support

1. Coordinate with Engineering, Procurement, and Construction teams.
2. Support Project Managers with financial insights and budget strategies.
3. Liaise with Finance for cost reconciliation and reporting alignment.

H. Systems and Data Management

1. Maintain accuracy of cost data in ERP or cost systems.
2. Ensure proper documentation and audit readiness.
3. Improve cost control processes and reporting tools.

QUALIFICATION REQUIREMENTS:

1. Must be a graduate of Engineering courses (Civil, Electrical, Mechanical, and Industrial Engineering).
2. Knowledgeable of Project Control Systems like ERP (Acumatica user is preferred but not required).
3. Must have at least a minimum of 5 years of work experience in cost engineering and project controls.
4. Experience in construction, engineering, and infrastructure projects preferred.
5. Excellent attention to detail, organizational, and time management skills.
6. Ability to do multitasking.
7. Preferably with license.
8. Willing to be assigned in Hermosa, Bataan or Anywhere in the Philippines.
9. Able to start immediately/ASAP.
10. One (1) Project-Based position is available.