Senior Cost Engineer

Job description / Role

Wood has an exciting opportunity for a Senior Cost Engineer to join Abu Dhabi Engineering team on one of largest FEED oil and gas project in the UAE. This role will be responsible for preparation and reporting of project cost budgets, and the tracking, management and reporting of project expenditure to enable robust control of projects throughout their lifecycle.

Also, the Senior Cost Engineer will 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.

RESPONSIBILITIES

- Assist and support in the development and maintenance of Project Work Breakdown Structure (WBS) and Cost Breakdown Structure (CBS) for specific scopes
- Liaise with other Project Controls disciplines and functions, assist and support in the development of project budgets in accordance with the Basis of Estimate including statements of work scope, assumptions, man-hour estimates, narratives and review & comment of client documents
- Liaise with procurement, finance and time-capture functions, and third parties as required, to ensure accurate and timely capture of procurement, materials, subcontract and labour manhour costs. Ensure costs are allocated accurately in accordance with approved project WBS
- Liaise with engineering, procurement and construction functions, and others as required, to maintain awareness of project activities and their impact on the project budget, schedule and cost forecast
- Facilitate and manage the project work approval process in terms of accurate cost code allocation and initial budget set-up and approvals
- Assist and support in the development and maintenance of project cost budgets using appropriate software applications
- Monitor and control cost commitments and expenditures through all phases of project lifecycle
- Liaise with planning as required to ensure accuracy in project cost phasing and forecasting
- Prepare and provide project cost performance reports in accordance with project reporting requirements
- Prepare and issue updates to project cost forecasts
- Monitor and report on cost impact of project manpower forecasts
- Develop and issue project change orders / variations in accordance with engineering and construction change notifications
- Facilitate and communicate cost and schedule impact of change notifications
- Monitor overall project cost performance and contingency drawdown
- Attend project meetings as required
- 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

Contribute to the delivery of cost budgets and reports where;
- Budgets correspond in structure and monetary value to submitted estimates, the WBS & CBS
- Original and current budgets correspond to approved estimates plus approved scope changes through the project life cycle
- Updates issued in a timely manner and cost reports are accurate within the bounds of the cost system
- Projects are reported accurately and with sufficient detail
- Project issues are highlighted in a timely manner
- Project reports are issued in accordance with the contract reporting calendar
- Scope and design development change orders are correctly identified
- Change orders are tracked and correct submittal and approval dates are entered in tracking system
- Change order status is adjusted within cost reporting system as change orders are submitted and approved

- Typically requires ISCED level 6 (Bachelors) Degree in a relevant technical or business discipline

Knowledge, skills and experience:
- Incumbents will typically have a minimum 10 years mainly being is cost experience
- Basic knowledge of cost software and related principles, tools and techniques including budgeting, forecasting and cash-flow
- Basic knowledge of Project Execution Procedures for Cost Management including Change Management
- Basic understanding of WBS and CBS structures and project reporting capabilities
- Basic ability to develop project cost budgets and change estimates
- Basic ability to prepare cost reports
- Basic 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
- Understanding of project management principles and techniques
- Understanding of Cost Management, Change Control, Planning and Risk Analysis and Manage

About the Company

Wood is a global leader in consulting and engineering, helping to unlock solutions to critical challenges in energy and materials markets. We provide consulting, projects and operations solutions in 60 countries, employing around 35,000 people.