Cost Engineer

The Cost Engineer III independently leads cost engineering and cost-control activities for complex construction projects or a defined portion of the project portfolio. The position is accountable for developing reliable project forecasts, evaluating cost and productivity performance, identifying emerging risks and opportunities, and converting project data into practical recommendations that support informed decisions and successful project execution. The position works closely with Project Managers, Construction Managers, Superintendents, Schedulers, Procurement, Accounting, and leadership to integrate cost forecasts with project progress and execution plans. The Cost Engineer III owns assigned cost-engineering deliverables and partners with the Scheduling group on progress, schedule status, and time-phased impacts without assuming ownership of schedule development or maintenance. The role applies industry-recognized practices informed by AACE International, the Project Management Institute (PMI), and Construction Industry Institute (CII) research, while placing primary emphasis on practical construction experience, sound judgment, and demonstrated competency. The Cost Engineer III also provides technical guidance, peer review, and mentoring to less-experienced project controls personnel. Accountable For (owns the assigned outcome) Leads the development, maintenance, and control of project budgets, cost baselines, Cost Breakdown Structures, cost codes, and alignment with the project Work Breakdown Structure for assigned complex projects or portfolio scope. Owns and critically reviews Estimate at Completion, Estimate to Complete, cash flow, and expenditure forecasts by reconciling actual, committed, accrued, forecasted, and remaining costs and validating underlying assumptions. Analyzes cost variances, productivity performance, cost trends, forecast assumptions, and potential exposures; develops clear recommendations and supports timely corrective action. Owns assigned cost trend and change-control records, including approved and pending changes, potential scope growth, contingency use, cost transfers, claims, and forecast impacts. Validates reported progress and forecast assumptions through review of field conditions, installed quantities, labor productivity, remaining scope, procurement status, and construction execution plans. Applies earned value, quantity-based progress, productivity analysis, milestone measurement, or other performance measurement methods appropriate to project size, contract model, and complexity. Identifies, assesses, and quantifies cost risks and opportunities associated with schedule changes, labor productivity, material escalation, engineering changes, procurement challenges, market conditions, and execution strategy. Prepares and presents accurate project and executive-level cost reports, dashboards, variance narratives, and forecast recommendations; supports project reviews, reporting cycles, and financial close activities. Leads and Influences (authority through expertise, analysis, and partnership) Partners with the Scheduling group to align cost forecasts with schedule status, progress measurement, labor plans, equipment utilization, subcontract performance, recovery plans, and milestone impacts. Schedule development, logic, and maintenance remain with Scheduling. Advises project management, construction, procurement, accounting, estimating, subcontractors, vendors, and clients on cost issues, forecast implications, and practical alternatives to improve project outcomes. Constructively challenges forecast assumptions and communicates unresolved cost exposure or data-quality concerns to project and Project Controls leadership. Provides technical guidance, peer review, coaching, and mentoring to less-experienced cost engineering and project controls personnel. Promotes consistent use of project controls standards, systems, templates, and procedures and contributes lessons learned and practical co…

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