Senior Cost Engineer

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Job Description:

Parsons is looking for an amazingly talented Senior Cost Engineer to join our team!

The Senior Cost Engineer will be responsible for managing and monitoring project cost control, forecasting, budgeting, commitments, expenditure, change management, and cost reporting across the project. The role will provide accurate and timely cost information to support project management and ensure that the project is delivered within the approved budget and financial objectives.

The position will coordinate closely with Planning, Commercial, Contracts, Procurement, Engineering, Construction, Finance, and Project Management teams to ensure effective integration between cost, schedule, progress, change, and commercial performance.

What You'll Be Doing:

• Manage and monitor project cost control activities across assigned project packages.
• Establish and maintain the Project Cost Management System, procedures, and reporting requirements.
• Develop and maintain the approved project budget and cost baseline.
• Establish appropriate Cost Breakdown Structure (CBS), Work Breakdown Structure (WBS), and cost coding structures.
• Monitor project commitments, actual costs, accruals, forecasts, and remaining budgets.
• Review and validate contractor and consultant cost data and payment information.
• Monitor Actual Cost (AC), Planned Value (PV), Earned Value (EV), and Estimate at Completion (EAC).
• Prepare and maintain detailed cost forecasts and identify potential cost overruns at an early stage.
• Analyze cost trends and provide recommendations for corrective and preventive actions.
• Coordinate with Planning to ensure alignment between project progress, schedule, and cost performance.
• Develop and maintain cost-loaded schedules and ensure proper integration between cost and planning systems.
• Review physical progress and ensure that reported progress is appropriately reflected in cost and earned value calculations.
• Establish and monitor Rules of Credit / Progress Measurement for relevant project activities.
• Review contractor applications for payment and verify quantities and progress against approved records.
• Monitor commitments and purchase orders against approved budgets.
• Track procurement and subcontract commitments and assess their impact on the overall project forecast.
• Maintain and monitor contingency, management reserve, provisional sums, and allowances, where applicable.
• Review and assess cost implications of design changes, variations, scope changes, and technical instructions.
• Maintain the Change Control Register and ensure approved changes are properly incorporated into the cost baseline.
• Provide cost impact assessments for potential and approved variations.
• Coordinate with Commercial and Contracts teams regarding variations, claims, EOT-related costs, and contractual changes.
• Support the assessment and validation of contractor and subcontractor claims.
• Monitor trends, potential changes, and emerging cost risks and ensure appropriate early warning is provided.
• Prepare detailed monthly cost reports, forecasts, dashboards, and management reports.
• Provide senior management with clear analysis of budget status, commitments, expenditure, forecast, and cost risks.
• Prepare cost performance indicators and trend analysis.
• Monitor Cost Variance (CV), Schedule Variance (SV), CPI, SPI, and other applicable performance indicators.
• Identify unfavorable cost trends and develop recovery or mitigation recommendations.
• Coordinate with Finance to reconcile project costs, accruals, invoices, and financial records.
• Review monthly accruals and ensure accurate forecasting of outstanding liabilities.
• Monitor cash flow requirements and provide cost inputs to project cash flow forecasts.
• Review subcontractor and supplier commitments and payment status.
• Monitor cost exposure associated with long-lead items and procurement packages.
• Participate in budget reviews, cost workshops, and project performance meetings.
• Provide cost inputs to project risk assessments and quantify potential cost exposure where applicable.
• Support quantitative cost risk analysis and contingency assessments.
• Review cost implications of project risks and opportunities.
• Ensure all cost data is properly documented, traceable, and supported by objective records.
• Maintain accurate cost databases, registers, logs, and supporting documentation.
• Support project audits and provide required cost records and supporting evidence.
• Monitor cost performance across multiple contractors, packages, disciplines, and workstreams.
• Provide guidance to Cost Engineers and junior project controls personnel.
• Review cost reports and deliverables prepared by junior team members.
• Develop and improve cost control procedures, reporting formats, and analytical tools.
• Support implementation of digital cost management and reporting solutions.
• Ensure effective integration between Cost Control, Planning, Commercial, Procurement, and Risk Management functions.
• Support project closeout by ensuring final cost records, commitments, accruals, and forecasts are properly reconciled.

What Required Skills You'll Bring:

• Bachelor’s degree in Engineering, Quantity Surveying, Construction Management, Finance, or a related discipline.
• 10+ years of relevant experience in cost engineering, cost control, project controls, or commercial management.
• Proven experience on major airport, infrastructure, transportation, civil, or large-scale construction projects.
• Strong experience managing cost control for complex, multidisciplinary projects.
• Good understanding of construction contracts, procurement, variations, claims, and commercial processes.
• Experience working with contractors, consultants, clients, and multidisciplinary project teams.

• AACE Certified Cost Professional (CCP) is highly desirable.
• AACE Certified Cost Technician (CCT) is an advantage.
• PMP certification is preferred.
• PMI-SP / PSP certification is an advantage.
• RICS / MRICS qualification is advantageous for candidates with a quantity surveying/commercial background.
• Earned Value Management certification/training is an advantage.

• Project Cost Control
• Cost Management
• Budget Development & Control
• Cost Baseline Management
• Cost Forecasting
• Estimate at Completion (EAC)
• Actual Cost / Planned Value / Earned Value
• Earned Value Management (EVM)
• Cost Variance & Trend Analysis
• Cost Breakdown Structure (CBS)
• Work Breakdown Structure (WBS)
• Commitment Management
• Accruals & Actual Cost Reconciliation
• Cash Flow Forecasting
• Change & Variation Management
• Cost Impact Assessment
• Contractor Payment Review
• Claims & Commercial Support
• Procurement Cost Management
• Subcontract Cost Control
• Risk & Opportunity Cost Analysis
• Contingency Management
• Cost Reporting & Dashboards
• Cost Loaded Schedule
• Progress Measurement
• Rules of Credit
• CPI / SPI
• Power BI / Data Visualization
• Advanced MS Excel
• Primavera P6 / Cost Integration
• ERP / Cost Management Systems
• Project Controls Integration

What Desired Skills You'll Bring:

• Strong analytical and numerical capabilities.
• Excellent attention to detail and data accuracy.
• Strong understanding of project controls and construction cost management.
• Excellent communication and stakeholder management skills.
• Strong commercial awareness and understanding of contractual processes.
• Ability to identify cost risks and provide practical mitigation strategies.
• Strong problem-solving and decision-making abilities.
• Ability to challenge cost and progress data professionally and objectively.
• Ability to work effectively with Planning, Commercial, Contracts, Procurement, Finance, and Project Management teams.
• Strong reporting and presentation skills.
• Ability to manage multiple cost control priorities under demanding project schedules.
• Proactive approach to cost management and early identification of potential overruns.
• Ability to mentor and support junior Cost Engineers.

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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