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Job Description:

Parsons is looking for an amazingly talented Cost Engineer to join our team! In this role you will get to manage project costs, from estimating and budgeting to monitoring and controlling costs throughout the project lifecycle.
This position requires a strong understanding of cost engineering principles, financial analysis, and excellent communication skills to work effectively with project teams and stakeholders to ensure that projects are completed within budget.

What You’ll Be Doing:

Cost Estimation and Budgeting:

• Assist in the development of cost estimates and budgets for projects based on scope and technical requirements.

• Work with project managers and engineers to gather cost-related data and create accurate project budgets.

• Monitor and track budget status, ensuring that estimated costs align with actual expenditures.

Cost Control and Monitoring:

• Track and report project costs throughout the lifecycle, ensuring expenses are within the approved budget.

• Update and adjust project budgets as needed based on changes in project scope or unforeseen circumstances.

• Implement cost control procedures to monitor cost trends and prevent budget overruns.

• Prepare periodic cost reports, providing detailed analysis on the project’s financial status.

Cost Reporting and Analysis:

• Prepare and maintain detailed reports on project expenditures, budget variances, and forecasted costs.

• Analyze cost data to identify trends, discrepancies, and potential risks to project finances.

• Collaborate with project teams to provide accurate financial forecasts and highlight areas requiring attention.

Risk and Change Management:

• Support the identification of cost-related risks, including potential cost overruns and scope changes.

• Work with the project team to assess the financial impact of changes and ensure that all changes are documented and reflected in the budget.

• Assist with managing cost implications of project changes, ensuring risks are mitigated.

Collaboration and Communication:

• Work closely with project managers, engineers, procurement teams, and other stakeholders to ensure financial aspects of the project are aligned with project goals.

• Provide cost-related information to project stakeholders and senior management, ensuring that they are kept up to date on the financial status of the project.

• Participate in meetings to review cost-related issues, propose solutions, and provide updates on project financials.

Documentation and Record Keeping:

• Maintain accurate records of cost estimates, budgets, and expenditures.

• Ensure that all documentation related to project costs, including contracts, purchase orders, and invoices, is complete and properly filed.

• Assist in preparing cost audits and documentation for financial reviews or reporting.

Process Improvement:

• Suggest and implement improvements to cost estimation, monitoring, and reporting processes.

• Identify opportunities for cost optimization throughout the project lifecycle and provide recommendations for cost-saving measures.

What Required Skills You’ll Bring:

• Bachelor’s degree in Engineering, Construction Management, or a related field.

• Minimum of 2 years of experience in cost engineering or cost management for projects.

• Hands-on experience in preparing cost estimates, managing budgets, and tracking project costs.

• Proficiency in cost management software (e.g., Microsoft Excel, Primavera P6, or similar tools).

• Strong understanding of cost control methods and project management processes.

• Excellent analytical and problem-solving skills, with the ability to interpret complex financial data.

• Experience with financial forecasting, earned value management (EVM), or project controls software.

• Familiarity with project risk management practices and techniques.

• Ability to communicate effectively with both technical and non-technical stakeholders.

• Proficiency in Microsoft Office Suite (Excel, PowerPoint, Word).

What Desired Skills You’ll Bring:

• Certification in Cost Engineering or Project Management (e.g., AACE, PMP, or related).

• Strong attention to detail and organizational skills.

• Knowledge of procurement, contract management, and cost estimation processes in construction or engineering sectors.

• Strong written and verbal communication skills, with the ability to prepare clear and concise cost reports.

Parsons equally employs representation at all job levels no matter the race, color, religion, sex (including pregnancy), national origin, age, disability or genetic information.

We truly invest and care about our employee’s wellbeing and provide endless growth opportunities as the sky is the limit, so aim for the stars! Imagine next and join the Parsons quest—APPLY TODAY!

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