Cost Engineer

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At Parsons, you can imagine a career where you thrive, work with exceptional people, and be yourself. Guided by our leadership vision of valuing people, embracing agility, and fostering growth, we cultivate an innovative culture that empowers you to achieve your full potential. Unleash your talent and redefine what’s possible.

 

Job Description:

Parsons is looking for an amazingly talented Cost Engineer to join our team! In this role you will get to support project cost planning, budgeting, forecasting, cost control, change management, and financial reporting throughout the project lifecycle. You will play a key role in ensuring accurate cost monitoring, analysis, and reporting to support effective project delivery, financial performance, and informed decision-making across major infrastructure and construction projects.

What You'll Be Doing

• Support the development and maintenance of project budgets, cost plans, cost estimates, and cost control baselines.
• Monitor project costs, commitments, expenditures, accruals, forecasts, and approved budgets throughout the project lifecycle.
• Track budget utilization and identify potential cost variances, trends, and financial risks.
• Assist in preparing cost estimates, cash flow forecasts, expenditure plans, and project funding requirements.
• Maintain alignment between project scope, Work Breakdown Structure (WBS), schedules, and cost data.
• Prepare periodic cost reports, dashboards, financial summaries, and project performance reports.
• Perform cost variance analysis and identify cost trends, risks, opportunities, and recommended corrective actions.
• Support the preparation of Estimate at Completion (EAC) and Estimate to Complete (ETC) forecasts.
• Assist in developing project performance metrics and executive management reports.
• Maintain accurate cost records, supporting documentation, and reporting databases.
• Support the evaluation of design changes, variations, scope modifications, and change requests.
• Review contractor quotations and variation submissions from a cost engineering perspective.
• Maintain change registers, variation logs, and cost tracking records.
• Assist in preparing cost impact assessments, commercial evaluations, and management recommendations.
• Coordinate with Planning, Commercial, Procurement, Engineering, Finance, and Project Controls teams to ensure consistent project cost reporting.
• Support Earned Value Management (EVM) analysis and cost performance measurement.
• Maintain alignment between project schedules, progress reporting, forecasts, and cost reports.
• Participate in project reviews, progress meetings, cost workshops, and commercial discussions.
• Assist in identifying project cost risks and support the development of mitigation strategies.
• Support contingency monitoring, risk-based forecasting, and scenario analysis activities.
• Contribute to value engineering and cost optimization initiatives to improve project performance.
• Monitor project cash flow requirements and expenditure trends.
• Maintain project cost records, approvals, forecasts, supporting documentation, and commercial records.
• Support project audits, financial reviews, governance activities, and compliance requirements.
• Assist with final account preparation, project closeout reporting, and financial reconciliation.
• Contribute to lessons learned, cost benchmarking, and continuous improvement initiatives.
• Perform other responsibilities associated with this position as appropriate.

What Required Skills You'll Bring

• Bachelor's Degree in Engineering, Quantity Surveying, Construction Management, Cost Engineering, Finance, or a related discipline.
• Minimum 3–5 years of experience in Cost Engineering, Project Controls, Quantity Surveying, Commercial Management, or related disciplines.
• Experience supporting large-scale construction, infrastructure, industrial, or capital projects.
• Good knowledge of:
• Cost Control
• Budget Management
• Cost Estimating
• Forecasting
• Cost Reporting
• Change Management
• Cash Flow Analysis
• Experience monitoring project costs, commitments, expenditures, and forecasts.
• Knowledge of project budgeting, cost planning, and financial reporting principles.
• Experience supporting cost variance analysis and project performance reporting.
• Familiarity with Earned Value Management (EVM) principles and project controls methodologies.
• Experience maintaining cost records, change registers, and commercial documentation.
• Strong analytical, numerical, and problem-solving skills.
• Excellent attention to detail and accuracy in financial reporting.
• Proficiency in Microsoft Excel and Microsoft Office applications.
• Experience using project controls and cost management software is preferred.
• Strong written and verbal communication skills.
• Ability to work effectively with multidisciplinary project teams and stakeholders.
• Strong organizational and time-management skills with the ability to manage multiple priorities.

What Desired Skills You'll Bring

• Experience working within PMC, EPC, Delivery Partner, or client-side project environments.
• Knowledge of Primavera P6, Primavera Unifier, Oracle Primavera Cloud, SAP, Power BI, or similar project controls platforms.
• Familiarity with FIDIC contracts and commercial management practices.
• Experience supporting cost forecasting, cash flow analysis, and project financial reporting.
• Knowledge of risk management, contingency planning, and value engineering principles.
• Experience preparing executive dashboards and business intelligence reports.
• Professional certification such as AACE Certified Cost Professional (CCP), PMP, MRICS, or equivalent is an advantage.
• Strong stakeholder management and communication skills.
• Ability to identify cost-saving opportunities and support continuous improvement initiatives.
• Commitment to delivering accurate, timely, and high-quality cost management services.

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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