Cost Estimation Engineer
Riyadh, Saudi Arabia
Hands on and proven experience of Minimum 3 years as Cost Estimation Engineer for projects based on their type, size and time of delivery. The core responsibilities include the following:
Studying the Project Analysis document and analyze the project components, deliverables, and time of delivery of the project under study.
Understanding of the overall scope of the project as well as collection of information about the client and understanding the client’s requirements. This involves reviewing design packages, project drawings, and other deliverables to prepare for the estimation process.
Conducting the necessary research about the similar projects, associated deliverable, associated risks and costs.
Collect and analyze all project costs, including raw materials, labour, equipment and tooling to ensure that cost estimates are accurate.
Being a Cost Estimation Engineer, you are supposed to identify and quantify potential cost uncertainties to ensure costing models capture the full range of potential costs.
Updates costs as necessary based on new information and project scope changes.
Additionally, Cost Estimation Engineer is required to interface with the departments including Project Management, Engineering, Procurement, finance and accounts.
The Engineer should track and maintain all estimations for further analysis. He should evaluate changes and review estimations to ensure accurate project development.
Estimation engineer is supposed to provide technical support to junior engineers and other project employees to help them make more accurate estimations. He should teach them how to estimate the right processes a and deliver those estimates in a timely manner.
He should assist the project team for the estimation of required resources, time of requirements, mode of delivery and their associated costs within the budgeted cost estimation.
Estimation engineer should be capable to gather the right data, visualize it, and analyze it in an effective manner based on the nature of the project. He should be able to put the data analysis into presentations for stakeholders and upper management for their correct understanding and decision making.
At least Bachelor’s Degree in mechanical or Electrical Engineering Domain from a re-known Institute/University.
professional Certifications in the field are preferred.
Total Professional Experience: Total professionally working experience
should not be less than 5 Years
evidenced by the experience certificates issued from the entities the work is performed. The experience certificates should carry the contact details of the company especially the direct contacts of reporting manager.
Significant development experience of minimum 3-years
as Cost Estimation Engineer role evidenced by the experience certificates issued from the entities the work is performed. Further experience in Project Management and Implementation processes and designing will be added advantage. Awareness of industry and professional standards is must.
Required Skills Suitable Candidate should possess:
Strong Analytical Thinking – Good at acquiring an understanding of a problem or situation and developing an approach to interacting with the situation.
Strategic Planner – Needs to keep overall objectives and strategies in mind, and not be deflected by matters of detail.
Stress Handling - Retaining objectivity and proper understanding of a problem or situation when placed under conditions of stress.
Applying standards – Good in application of relevant industry and process standards to all tasks undertaken.
Industry Developments – Must take initiative to ensure technical skills and specializations are kept up to date in line with industry developments and ensure that all relevant skill sets are current.
Must be familiar with the tools including:
Data analysis tools
Technical diagramming tools