Project Cost Estimation Engineer

Job description / Role

Employment: Full Time

Job purpose

Provide total cost management involving cost estimating, engineering economics and integrated project cost control for all project initiatives inclusive of cost estimating support services to all business units. Initiate, obtain and update costs for all the engineering activities and form as data bank on cost of projects, materials, and engineering studies.

• Participate in providing consultancy estimate services to operating divisions. Evaluate variations to contract and participate in techno-commercial appraisal and its finalization. Participate in the preparation of techno-economic and feasibility studies, lifetime cost cycles, project cost risk analysis and update cost data systems.
• Forecast cost and prepare a complete project cost outlook in different classes, types and methods for capital development projects, modifications and maintenance works engineered and/or managed by discipline engineering division to ensure sufficient funding and recommend appropriate budgets for such projects.
• Evaluate variations to contracts and provide cost forecast services to other operating and technical divisions. Prepare cost-engineering studies, project life cycle costing and cost estimate risk analysis. Provide cost estimating support to projects at all stages of the process.
• Prepare project cost estimates for various types of capital development projects and major maintenance schemes in adequate estimate class, details and accuracy and pass, through supervisor, for management approval.
• Prepare cost estimates upon receiving scope of work by projecting historical data to reflect present and anticipated market trends and/or develop cost estimates from first principle by analysis and determining total resources required, i.e. man-hour, manpower, duration, materials and equipment.
• Review project cost estimates produced by consultants and consolidate the same with indirect owners cost to arrive at project budgets.
• Determine construction methods and logistics for implementation and construction schedule to produce activity-duration cost estimates.
• Carry out cost estimates assuming alternative implementation strategies and provide recommendation for most economical options.

• Develop detailed project cost estimates, which is considered as yardstick by which contractor's/bidder's tenders are appraised.
• Visit sites to determine methods of construction, manpower and time required to execute the work.
• Provide cost estimates/breakdown structure and any other information required for the preparation of budgets, cost management plans and business plans.
• Participate as task force member for cost effective feasibility studies, quantified risk assessment and optimization studies for new schemes/modification.
• Evaluate project bids and provide advisory services/cost comparison to asset departments during the construction bids analysis against the cost estimates, to achieve the most economic lump sum prices.
• Participate with project team in producing negotiating strategies and actual involvement in negotiations with contractors until contract finalization and in appraisal/approval of contract variation order for various projects.
• Prepare cost risk customized analysis utilizing appropriate software to determine risk levels of major projects, involving risk quantification and simulations.
• Study and analyse project execution plan, procurement and contracting strategies, construction method statement from mobilizations, through fabrication, installation until final commissioning and project completion, to evaluate/allocate proper budget breakdown against each direct cost element.

Minimum qualification

Engineering degree with cost controlling experiences or accounting/financing degree or equivalent.

Minimum experience, knowledge & skills

6 years of relevant experience in the oil and gas industry.

Company Industry: Audit & Accountancy

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