Senior Cost Engineer

Parsons Corporation

What You'll Be Doing:

• Work closely with project directors, managers and engineers to establish project budgets based on scope and technical requirements.

• Develop and maintain project cost control systems, budgets and forecasts.

• Monitor and track project cost performance throughout the project lifecycle, ensuring expenditures remain within the approved budget and prepare variance analysis.

• Analyze cost trends and variances, investigate discrepancies, and work with project teams to implement corrective actions when necessary.

• Collaborate with cross-functional teams to review cost implications of changes in project scope and ensure that the impacts are understood and managed.

• Prepare regular cost reports, including forecasts and financial statements, highlighting variances and trends, for senior management and stakeholders. Support the preparation of Earned Value Management (EVM) reports and other financial assessments.

• Evaluate and report on potential cost overruns and risks, recommending strategies for cost mitigation.

• Validate change orders, variation claims and financial impacts.

• Conduct detailed cost analysis, including labor, materials, equipment, and overhead, to ensure costs are aligned with project objectives.

• Identify and evaluate cost-related risks and assist in developing risk mitigation strategies. Provide input into project risk management processes and ensure that potential cost overruns are mitigated through proactive planning and monitoring.

• Implement lessons learned from previous projects to improve future cost estimation and control efforts.

• Develop dashboards for Tracking Cost variances, schedule adherence, utilization and productivity.

• Participate in Internal and client progress meetings to present key performance indicators.

• Mentor and train less experienced staff in cost management with the best practices and techniques.

What Required Skills You'll Bring:

• Graduate degree required (such as BSc, BA, or similar) in Engineering, Quantity Surveying, Cost Engineering, Project Management, or a related field; post-graduate degree or certifications in project management (e.g., AACE, PMP, RICS) preferred.

• 5 years of relevant experience required in cost engineering or cost management in large-scale projects, with at least 2 years in a senior role.

• Strong experience in cost estimation, budgeting, and cost control for projects in industries such as construction, engineering, oil and gas, or infrastructure.

• Familiarity with Earned Value Management (EVM) and other project performance measurement systems.

• Knowledge of industry-specific standards and regulations related to cost control and project management.

• Familiarity with risk management techniques, including risk analysis and mitigation strategies.

What Desired Skills You'll Bring:

• Strong understanding of cost engineering principles, including estimating, budgeting, and cost tracking.

• Excellent analytical skills and the ability to interpret financial data and cost information.

• Advanced skills in financial modeling, forecasting, and cost reporting.

• Fluent in English, with excellent verbal and written communication skills, with the ability to explain complex financial concepts to non-financial stakeholders at all levels.

• Proficient in project management software (e.g., Primavera, MS Project, CostX or similar) and Microsoft Office Suite required to perform daily duties.

• Ability to positively influence and contribute to meetings and to interface with the client and stakeholders.