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  • Job reference: RMS0111642

Cost Engineer III

  • Sector: Oil & Gas
  • Location: Houston
  • Job type: Contract
  • Date posted: 05/06/2012
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The Company:
Our major oil and gas client is seeking a Cost Engineer III for a one year opportunity in West Houston.

The Role:
• Develop the project cost control strategy, plans and procedures, reflecting both company and contractor roles and responsibilities;
• Adhere to the segment financial, business and project processes;
• Address issues pertaining to project cost control procedures;
• Coordinate development and implementation of project work breakdown structure (WBS) / cost breakdown structure (CBS) in concert with Project Lead and Project Planning/Scheduling Engineer;
• Participate in the development of project execution plans;
• Participate in the development of estimates and studies within a project stage and for sanction;
• Coordinate and develop appropriate control budgets consistent with project estimate and WBS / CBS;
• Implement and monitor costs within each project stage and for entire project until completion or close-out;
• Collect and compile progress and cost data, and develop cost-control worksheets and reports for review by delivery teams;
• Provide cost input to commitment close-out process; - Review and audit contractor cost control procedures and practices;
• Perform quality assurance on contractor cost-management performance;
• Ensure the development of estimates and studies within a project stage and for sanction;
• Coordinate or develop appropriate internal and external benchmarking and technical limits;
• Coordinate preparation of cost risk analysis;
• Review financial data related to accruals, invoice payments, purchase orders and material deliveries and other financial data;
• Provide cost input to and implement the cost element of change management procedure
• Provide cost input to and implement the cost element of risk management plan;
• Coordinate the development of risk mitigation plans as delegated;
• Link risk process to change process and estimate;
• Coordinate and develop project work-in-place (WIP), commitment and estimate at complete (EAC) forecasts;
• Coordinate and develop project annual-spend projections, cost reconciliations and variance analyses;
• Prepare project authorization for expenditure (AFE) in concert with Project Lead and monitor AFE approval process;
• Assist and prepare cost performance management data; - Provide interface to other functions and teams to improve processes, resolve conflicting priorities and ensure adherence to best project practices;
• Work with Financial Control and Accounting (FC&A) function to ensure implemented processes conform to internal control evaluation (ICE) requirements;
• Prepare and implement project-wide cost measurement and reporting system, including roll-up levels and reporting cycle calendar;
• Develop and issue various reports to appropriate stakeholders;
• Develop project close-out plan;
• Work with business unit or project controller and accounting function to ensure adequate financial controls

Essential Skills / Qualifications:
Extensive project control or project management experience on large projects; Moderate or better experience level with cost management tools;
Ability to organize and prioritize work and meet deadlines;
Ability to recognize and solve problems;
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