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Cost Engineer


Due to an exciting period of growth which is seeing an increase in project wins, our client, a large “blue chip” EPC Engineering contractor, supporting customers across the chemical & petrochemical, nuclear, oil & gas, pharmaceuticals, power /energy and utilities markets, has an excellent opportunity for a Cost Engineer to join their team in Winnersh.

As a Cost Engineer you will be working under the Commercial Manager, executing identified job tasks in a diligent and efficient way.

Main Responsibilities:

  • To produce cost reports, analyses, and forecasts in order to facilitate improved cost control/reduction, and support the Operations team in delivering workscopes within budget.
  • To provide the client with ‘cost reports’ and ‘value of work done summaries’ in order to advise on progress against budgets, and also ‘forecasts’ of cost to completion.
  • To provide advice and support to Business Delivery Managers regarding commercial aspects of managing contracts.
  • To assist with the identification and management of contract variations.
  • To provide visibility on Contract Financial Performance including the preparation of monthly management accounts.
  • To carry out audits & reviews as necessary, to assist with the identification and implementation of potential commercial improvements.
  • To ensure suitable controls are in place in support of financial deliverables.
  • To ensure compliance with company policies, processes and procedures related to the management of commercial aspects.
  • In addition to the duties and responsibilities listed, the position holder is required to perform other duties as may arise in connection with the successful operation of the Company or assigned by Commercial Manager from time to time.
  • To interface with Business Managers, Invoicing, Accounts, Procurement, Tendering.
Specific Tasks:
  • Devise an appropriate cost report format to meet the needs of the client and client agents, the project management team, and the wider management team.
  • Produce weekly cost reports in order to inform clients, operations, and management of progress against budgets.
  • Analyse any variances and advise the operations team of the reasons and any required actions e.g., revise estimates or request variation orders.
  • Produce forecasts for individual workscopes and ensure these are updated to reflect any changes to the scope, duration or timing of the job.
  • Provide the client and client agents with monthly ‘value of work done’ summaries, in order to highlight costs to date, uninvoiced costs to come, plus additional costs to complete the workscope.
  • Collation of Contract Budgeting/Forecasting information & check on the integrity of the information provided to ensure the dependability of information provided.
  • To collate all relevant start-up information for jobs/phases and to set up in the company database.
  • To facilitate inter-dept. communication regarding the start-up of new jobs/phases.
  • To study and familiarise oneself with relevant Contract Commercial Terms & Conditions and monitor to ensure compliance with these.
  • To review all invoices for completeness & correctness prior to submission to the Client.
  • To assist in the preparation of valuations on Fixed Price jobs.
  • Assist in preparation and resolving claims.
  • Submission of annual rates uplifts.
  • Assist in re-negotiation of revised contract terms.
  • Identification of areas of commercial weakness and assist in rectifying/improving such problems.
  • Cross-sharing of ideas between different contracts to ensure lessons learnt from both positive and negative influences. (Export the positives to other areas/contracts and make recommendations to eradicate weaknesses).
  • Assist in the standardisation of techniques and reporting mechanisms as far as is possible.
  • Assist in preparing/reviewing the commercial element of Business Cases.
  • Interface with Procurement Team on any project-specific aspects that fall out with Master Supplier/Sub-Contract Agreements (to ensure that optimum solution is reached for the company).
  • Assists the in preparation of financial elements for Client reports.
  • Monitor and provide feedback relative to KPI performance and highlight areas where improvement is necessary to optimise financial return.
  • Deputise for Business Delivery Managers in relation to the approval of ISRs.
  • Assist in purchase v hire decision for equipment.
  • Interface person for internal Accounts/Invoicing departments with regard to commercial issues.
  • Review estimates or CTRs prepared by Operations.
  • Reconciliation exercises as required.
  • Provides detailed analysis of completed projects to highlight areas of learning.
Experience and Qualifications:
  • Proven track record in a similar role
  • Experience in a fast-paced work environment
  • Possess a finance degree or be working towards a recognised accounting qualification or have suitable relevant experience working in a similar Commercial or Financial role (desirable)
  • Problem Solver
  • Self-starter and team player with excellent communication skills
  • Relationship builder with strong commercial Awareness
  • Ability to work under pressure and to a deadline
  • Knowledge/previous use of SAP (desirable)
  • Highly personable
  • Assertive and confident
  • High level of discretion and confidentiality

If you’re looking for a new opportunity and have the skills set that our client is looking for, apply with your current CV today and a member of the Millbank team will be in touch.

Millbank Holdings Ltd is an equal opportunities employer and respects diversity. We welcome applications from all suitably qualified persons who are eligible to live and work in the UK.
Millbank is proud to be a member of the ‘Disability Confident Scheme’. Millbank operates as an Employment Agency and Business.