Senior Cost Engineer at Wood

Wood is currently recruiting for a Senior Cost Engineer with extensive experience in the mining and minerals industry on large capital projects, including projects in remote locations and other countries, in particular third world countries.

Main Purpose of Role

• To assist the lead cost engineer and project controls manager (if applicable) in planning, monitoring and reporting the status of project manhours, indirect costs, capital costs and owner’s costs (if applicable) by applying relevant cost management methodology, procedures and systems.
• Work on either a single major project and / or provide cost control support to a number of smaller projects and studies to compile and co-ordinate the smooth running of the company projects’ and studies’ cost reports, in support of the relevant project / study managers.
• Work in a manner that supports and enhances the Amec Foster Wheeler values of:
• Delivering on promises;
• Developing full potential;
• Doing the right thing.

Role Specific Responsibilities

• Projects and studies – includes the relevant duties below as agreed per project and / or study.
• Assist the lead cost engineer and project controls manager in developing cost control procedures and practices for inclusion in the project management plan. Comply with and carry out regular reviews of the procedures and update as required.
• Assist in defining the project work breakdown structure (WBS) to ensure compatibility with the applied project cost control system.
• Assist with the compilation of the baseline budget to the agreed WBS from the control budget estimate (CBE) that was agreed to by the client for:
• Indirect field costs including EPCM manhours and disbursements
• Direct field costs including temporary construction facilities
• Other costs including insurances, legal costs and professional fees
• Owners costs (if applicable)
• Fund allocations – committing correct amounts in CBE and applied project cost control system and providing correct WBS codes for funds to be allocated against.
• Liaise with contract administrators and procurement officers to allocate budget amounts for packages.
• Provide expert cost engineering services to the project.
• Provide assistance to users of the applied project cost control system within the project.
• Attend project kick off, progress, cost control and planning meetings and implement approved changes in the cost control system as directed.
• Establish and maintain histograms, S-curves, KPI’s, graphs / curves for recording and monthly status reporting of project costs and forecasting.
• Manage contingency drawdown, escalation, calculate forecast at completion, report cost variances and initiate change control for cost adjustments where necessary.
• Maintain registers for change management.
• Processing budget shifts and scope changes in the CBE and applied project cost control system when such changes are registered for both studies and projects.
• Facilitate the assessment of forecast to complete (FTC) and forecast at completion (FAC) costs with the relevant project personnel and update the applied project cost control system accordingly.
• Cashflow forecasting.
• Commitment forecasting.
• Prepare cost reports showing the original budget, current budget, commitments, FAC, incurred and expended values and variances.
• Oversee the project accounting department in respect of the figures produced for corporate reporting of project performance and client invoicing.
• Oversee the project accounting department in respect of capital contractor invoicing and processing of such for payment by client.
• Assist in the compilation of project close out reports by preparation and submission of cost control data.
• Detailed knowledge of applied company and project cost control systems
• Working knowledge of the financial accounting package and its interface with applied company and project cost control system
• Restructure tender estimate into control budget estimate in accordance with the project strategy
• Forecasting of project (FAC).
• Cost Reporting
• Forecasting cashflow
• Forecasting project commitments.