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Risk Engineer (Projects)


Purpose
The Cost Engineer is responsible for developing, managing, and overseeing project cost estimation, budgeting, and financial planning throughout the project lifecycle. The role ensures cost-effective project execution by providing accurate estimates, monitoring expenditures, analyzing variances, and supporting decision-making in line with project schedules and execution plans.
Key Responsibilities
Cost Estimation & Budgeting
Develop accurate cost estimates during project initiation and design phases.
Establish the initial project budget using technical and commercial data.
Prepare cost estimates for design or execution changes.
Provide cost input for validating supplier changes and client change requests.
Cost Control & Reporting
Apply corporate cost control methodologies to project activities.
Monitor project expenditures, identifying potential overruns or underruns.
Conduct cost trending and earned value analysis to support forecasting.
Prepare monthly cost forecasts and contribute to cost control reports.
Support financial reporting for senior management.
Risk & Change Management
Identify and prepare variation orders for approval and submission.
Evaluate cost risks and support mitigation strategies.
Promote cost awareness across the project team.
Stakeholder Collaboration
Work closely with Planning, Procurement, Contracts, Engineering, Construction, and Finance teams to gather inputs and support decision-making.
Ensure accurate and timely cost information is shared with project stakeholders and estimating teams.
Education
Bachelor’s degree in Engineering, Construction Management, Finance, or a related technical field.
Professional certifications (AACE, CCE, PMP) are a plus.
Experience
~3–5 years of experience in cost engineering, estimating, or project cost control.
~ Experience in construction, offshore, shipbuilding, oil & gas, or similar industries preferred.

Skills & Attributes
Strong analytical and problem-solving abilities
High attention to detail and data accuracy
Advanced Excel skills; ability to learn specialized software
Effective communication and teamwork skills
Strong planning and prioritization ability
Fluent in English

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