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Job Description:

The Cost Engineer will support the planning, monitoring, control, and reporting of project costs across the Airport / Infrastructure / Airfield project. The role will ensure that project costs, commitments, variations, forecasts, and commercial changes are accurately monitored and reported against the approved budget and project baseline.

The position will work closely with the Commercial, Contracts, Planning, Procurement, Engineering, Construction, Project Controls, Finance, Contractors, and Client teams to maintain effective cost control and provide accurate financial visibility to project management.

Key Responsibilities

• Monitor and control project costs against the approved budget.

• Maintain accurate cost reports and cost control systems.

• Monitor actual costs, commitments, accruals, forecasts, and budget movements.

• Prepare regular cost reports for Project Management and senior management.

• Maintain the Project Cost Breakdown Structure (CBS).

• Monitor costs by package, discipline, workstream, and project area.

• Track commitments and actual expenditure.

• Monitor approved and pending Variations / Change Orders.

• Assess cost impacts of design changes, Client instructions, and project changes.

• Support preparation of cost estimates and forecasts.

• Identify cost trends, risks, and potential overruns.

• Provide early warnings on potential budget impacts.

• Coordinate with Commercial and Contract teams regarding claims and variations.

• Reconcile cost reports with Finance and Commercial records.

• Support monthly project cost forecasting and reporting.

Cost Control & Monitoring

• Establish and maintain cost control procedures.

• Monitor:

  • Approved Budget

  • Actual Cost

  • Committed Cost

  • Accrued Cost

  • Forecast Cost

  • Remaining Cost

  • Variations

  • Contingency

  • Potential Changes

• Monitor budget transfers and cost movements.

• Review cost performance against approved budgets.

• Identify cost variances and investigate causes.

• Prepare variance analysis and management commentary.

• Ensure cost information is accurate, timely, and traceable.

Variations & Change Management

• Maintain the project Variation / Change Register from a cost perspective.

• Review cost impacts of Client instructions and design changes.

• Prepare or support preparation of cost estimates for variations.

• Review Contractor variation submissions.

• Validate quantities, rates, resources, and supporting documentation.

• Coordinate with Contracts and Commercial teams on variation assessments.

• Track:

  • Proposed Variations

  • Submitted Variations

  • Under Review

  • Approved Variations

  • Rejected Variations

  • Pending Client Approval

• Monitor the financial impact of approved and pending changes.

• Ensure approved changes are reflected in the project forecast.

Forecasting

• Prepare monthly cost forecasts.

• Maintain Estimate at Completion (EAC).

• Monitor Estimate to Complete (ETC).

• Identify forecast movements and cost risks.

• Assess potential cost exposure from outstanding changes and claims.

• Coordinate with Planning and Commercial teams to align cost and schedule forecasts.

• Provide management with forward-looking cost information.

• Support development of recovery and mitigation strategies where cost risks are identified.

Contractor & Subcontractor Cost Management

• Review Contractor and Subcontractor payment applications.

• Monitor commitments and contractual values.

• Support assessment of progress payment applications.

• Validate quantities and reported progress against approved records.

• Coordinate with Quantity Surveyors and Commercial teams.

• Monitor Contractor variations and claims.

• Track approved and pending commercial changes.

• Identify discrepancies between physical progress and reported cost.

• Support reconciliation of Contractor accounts.

Project Controls Integration

• Coordinate closely with Planning Engineers and Project Controls teams.

• Integrate cost information with project schedule and progress data.

• Support development of Earned Value Management (EVM) where applicable.

• Monitor:

  • Planned Value (PV)

  • Earned Value (EV)

  • Actual Cost (AC)

  • Cost Variance (CV)

  • Schedule Variance (SV)

  • CPI / SPI

• Analyze cost performance and trends.

• Support management decisions through integrated cost and schedule analysis.

Procurement & Commitment Management

• Monitor procurement commitments against approved budgets.

• Coordinate with Procurement regarding purchase orders and commitments.

• Track long-lead equipment and major procurement packages.

• Monitor committed values against forecast costs.

• Identify procurement cost risks and potential budget impacts.

• Support reconciliation between purchase orders, commitments, invoices, and project cost records.

Reporting

• Prepare weekly and monthly cost reports.

• Maintain cost dashboards and management reports.

• Provide cost variance analysis.

• Prepare cost forecasts and EAC updates.

• Maintain:

  • Cost Report

  • Cost Breakdown Structure

  • Commitment Register

  • Variation Register

  • Forecast Register

  • Change Register

  • Payment Tracking

  • Cost Risk Register

• Highlight key cost risks and required management actions.

• Present cost status and trends to Project Management when required.

Risk & Opportunity Management

• Identify potential cost risks and opportunities.

• Monitor financial exposure from:

  • Design Changes

  • Client Instructions

  • Delays

  • Claims

  • Procurement Changes

  • Market Conditions

  • Productivity

  • Rework

  • Scope Growth

• Quantify potential cost impacts.

• Support development of mitigation strategies.

• Ensure significant cost risks are escalated to management.

Qualifications & Experience

• Bachelor's Degree in Engineering, Quantity Surveying, Construction Management, Finance, or a related discipline.

• Minimum 5 years of relevant experience in cost engineering, project controls, quantity surveying, or commercial management.

• Experience on major construction, infrastructure, airport, transportation, or large-scale development projects is preferred.

• Strong understanding of construction cost control and project commercial processes.

• Experience with variations, claims, forecasting, commitments, and cost reporting.

• Good understanding of WBS / CBS and project cost structures.

• Experience with Contractor payment applications and commercial assessments.

• Knowledge of Earned Value Management is preferred.

• Proficiency in Excel and project cost control systems.

• Strong analytical, reporting, communication, and problem-solving skills.

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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