Value Engineer (Cost Engineer)

Job Title: Value Engineer (Cost Engineer)

Job Description: We are seeking a highly skilled and experienced Value Engineer to manage and control project costs, ensuring budgets are adhered to and providing accurate cost forecasts. The successful candidate will be responsible for estimating costs, monitoring project expenditures, and analyzing financial data to support decision-making and improve cost efficiency. This role will collaborate with project teams to deliver projects within financial constraints and align with company objectives.

Key Responsibilities:

• Cost Estimation and Budgeting:

  • Prepare detailed cost estimates during the project’s feasibility and design stages.
  • Develop project budgets based on scope, resource requirements, and market conditions.
  • Work closely with project managers to finalize budgets and cost plans.

• Cost Monitoring and Control:

  • Track and monitor project expenditures to ensure adherence to approved budgets.
  • Conduct cost variance analysis to identify and address deviations.
  • Recommend cost-saving measures to optimize project efficiency and reduce waste.

• Forecasting and Reporting:

  • Prepare regular cost reports and forecasts to provide insights into financial performance.
  • Generate cash flow projections and expenditure forecasts for project phases.
  • Present cost analyses and updates to senior management.

• Tendering and Procurement Support:

  • Assist in preparing tender documents and evaluating contractor bids.
  • Analyze cost implications of procurement decisions, including materials, equipment, and services.
  • Support contract negotiations by providing accurate cost data and recommendations.

• Risk Analysis and Mitigation:

  • Identify cost risks and propose mitigation strategies to minimize financial exposure.
  • Conduct “what-if” scenarios to evaluate the financial impact of potential project changes.
  • Monitor contingency allowances and recommend adjustments as necessary.

• Collaboration and Communication:

  • Collaborate with project teams, procurement staff, and vendors to align costs with project objectives.
  • Work with the Planning Engineer to integrate cost data into project schedules.
  • Ensure all stakeholders are informed of cost implications for project decisions.

• Continuous Improvement:

  • Review and improve cost management processes and tools to enhance accuracy and efficiency.
  • Stay updated on industry trends, cost estimation techniques, and market pricing.

Required Qualifications:

• Education: Bachelor’s degree in Civil Engineering, Construction Management, Quantity Surveying, or a related field.
• Experience: Minimum of 3-5 years of experience in cost engineering or cost control, preferably in the construction or real estate sector.
• Certifications: Certification in cost engineering (e.g., CCP by AACE) or equivalent is a plus.

Skills:

• Proficiency in cost management tools and software (e.g., CostX, Primavera Cost Manager, or similar).
• Strong understanding of cost estimation, budgeting, and financial analysis principles.
• Advanced Excel skills for data analysis and financial modeling.

Key Competencies:

• Strong analytical and problem-solving skills to address cost-related challenges.
• Attention to detail and accuracy in cost calculations and financial reporting.
• Excellent organizational skills to manage multiple projects and deadlines.
• Effective communication and negotiation skills for working with teams, contractors, and vendors.
• Proactive and results-driven mindset with the ability to work under pressure.