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Job Description:

Parsons is looking for an amazingly talented Senior Cost Engineer to join our team! In this role you will get to ensure that project costs are effectively managed and controlled. This role requires a deep understanding of cost estimation, budgeting, and cost control techniques, along with the ability to provide accurate financial reports and recommendations. The Senior Cost Engineer will work closely with project teams to ensure projects are completed on budget and deliver value to the organization.

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What You'll be Doing;

• Lead the preparation and development of cost estimates for projects during the planning and design phases.
• Work closely with project managers and engineers to establish project budgets based on scope and technical requirements.
• Provide recommendations on cost-effective solutions and identify cost-saving opportunities during the project lifecycle.
• Monitor and track project costs throughout the project lifecycle, ensuring expenditures remain within the approved budget.
• Develop and implement cost control systems and procedures, ensuring accuracy and timely reporting of project costs.
• Analyze cost variances, investigate discrepancies, and work with project teams to implement corrective actions when necessary.
• Prepare regular cost reports, including forecasts and financial statements, for senior management and stakeholders.
• Conduct detailed cost analysis, including labor, materials, equipment, and overhead, to ensure costs are aligned with project objectives.
• Provide detailed cost reports and analysis on a monthly or quarterly basis, highlighting variances and trends.
• Support the preparation of Earned Value Management (EVM) reports and other financial assessments.
• Evaluate and report on potential cost overruns and risks, recommending strategies for cost mitigation.
• Review and analyze contracts, subcontracts, and purchase orders to ensure that they reflect accurate and appropriate cost structures.
• Monitor vendor performance, ensuring that costs are aligned with contract terms and that any deviations are addressed.
• Assist in the negotiation and management of vendor contracts, ensuring the cost-effective delivery of services and materials.
• Identify and evaluate cost-related risks and assist in developing risk mitigation strategies.
• Provide input into project risk management processes and ensure that potential cost overruns are mitigated through proactive planning and monitoring.
• Work closely with project managers, engineers, procurement teams, and senior leadership to provide cost-related insights and recommendations.
• Collaborate with cross-functional teams to review cost implications of changes in project scope and ensure that the impacts are understood and managed.
• Present cost reports and financial analysis to senior management, stakeholders, and external parties as required.
• Contribute to the development and implementation of cost management best practices and standardized processes across projects.
• Identify opportunities for improvements in cost estimation, tracking, and reporting processes.
• Implement lessons learned from previous projects to improve future cost estimation and control efforts.
• Provide leadership and guidance to junior cost engineers and other team members.
• Mentor and train less experienced staff in cost management best practices and techniques.

What Required Skills You'll Bring;

• Bachelor’s degree in Engineering, Quantity Surveying, Construction Management, or a related field.
• Minimum of 7 years of experience in cost engineering or cost management in large-scale projects, with at least 3 years in a senior role
• Strong experience in cost estimation, budgeting, and cost control for projects in industries such as construction, engineering, oil and gas, or infrastructure.
• Proficiency with cost management and project control software (e.g., Primavera P6, MS Project, SAP, or similar tools).
• Strong understanding of cost engineering principles, including estimating, budgeting, and cost tracking.
• Excellent analytical skills and the ability to interpret financial data and cost information.
• Advanced proficiency in Microsoft Excel and other spreadsheet software for cost analysis and reporting.
• Knowledge of contract management, procurement processes, and financial reporting.
• Strong communication and presentation skills, with the ability to explain complex financial concepts to non-financial stakeholders.
• Familiarity with Earned Value Management (EVM) and other project performance measurement systems.
• Certification in Cost Engineering or Project Management (e.g., AACE, PMP, RICS).
• Experience with ERP or cost management software (e.g., Oracle, SAP).
• Knowledge of industry-specific standards and regulations related to cost control and project management.
• Familiarity with risk management techniques, including risk analysis and mitigation strategies.
• Advanced skills in financial modeling, forecasting, and cost reporting.

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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