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MEP Cost Engineer

2 weeks ago

Johor Bahru, Johor, Malaysia CEL LOGISTIC Full time 60,000 - 120,000 per year

A Cost Engineer in construction focuses on managing, controlling, and forecasting the financial aspects of construction projects. They are responsible for ensuring the project stays within budget, tracking expenses, and managing risks associated with costs. Their role is essential in delivering a project efficiently and economically.

Job Responsibilties:

  1. Cost Estimation and Budgeting

  2. Prepare Cost Estimates: Develop detailed cost estimates for construction projects, including labor, materials, equipment, and overhead costs.

  3. Cost Control and Monitoring

  4. Track and Monitor Costs: Continuously monitor the actual costs versus the project budget to identify discrepancies or potential cost overruns.

  5. Prepare Financial Reports: Regularly prepare and present reports on project costs, including forecasts, variances, and trends in expenses.
  6. Implement Cost Control Measures: Identify areas where costs can be controlled, reduced, or optimized, and implement corrective actions where necessary.

  7. Monitor Subcontractor Costs: Ensure that subcontractors are adhering to agreed-upon budgets and that payments are aligned with completed work.

  8. Forecasting and Financial Projections

  9. Forecast Costs: Predict future costs, taking into account potential risks, scope changes, and market fluctuations.

  10. Project Cash Flow: Estimate and track cash flow requirements throughout the project lifecycle to ensure the timely availability of funds.

  11. Cost Trends and Risks: Identify potential financial risks and trends that could impact the overall project costs and develop strategies to mitigate them.

  12. Change Management

  13. Manage Change Orders: Evaluate, track, and process change orders to ensure that any deviations from the original plan are reflected in the budget and financial reporting.

  14. Assess Cost Impact: Assess and calculate the cost implications of design changes or scope adjustments and make sure those changes are properly documented and approved.

  15. Contract and Procurement Management

  16. Evaluate Bids and Contracts: Assist in the evaluation of contractor and supplier bids, ensuring that they align with the budget and project requirements.

  17. Manage Procurement: Collaborate with procurement teams to ensure the timely and cost-effective purchase of materials and services.

  18. Contract Management: Ensure that all contractual agreements with vendors and subcontractors are adhered to in terms of costs and payment schedules.

  19. Risk Management

  20. Cost Risk Analysis: Identify cost-related risks (e.g., price escalation, delays) and implement strategies to minimize their impact on the overall project budget.

  21. Contingency Planning: Develop and manage contingency plans to address potential cost overruns or financial issues during the project.

  22. Collaboration and Communication

  23. Work with Project Managers: Coordinate with project managers, engineers, and contractors to provide cost-related information and support for decision-making.

  24. Stakeholder Communication: Communicate effectively with clients, stakeholders, and team members to ensure transparency and understanding of project costs.

  25. Liaise with Senior Management: Provide senior management with regular updates on financial performance, highlighting any concerns or recommendations for action.

  26. Final Cost Reconciliation and Project Close-Out

  27. Close-Out Report: Prepare final cost reports at the conclusion of the project, reconciling actual costs with the original budget.

  28. Post-Project Review: Participate in post-project evaluations to identify lessons learned and opportunities for improving cost management practices in future projects.

Skills & Qualifications

  • Bachelor's Degree in Civil Engineering, Construction Management, Quantity Surveying, or a related field.
  • Relevant Experience: 2-5 years of experience in construction cost management, cost estimating, or project control, typically in large-scale construction projects.
  • Certifications: Certified Cost Professional (CCP) from the AACE (Association for the Advancement of Cost Engineering) is highly regarded in the industry. Project Management Professional (PMP) or PRINCE2 certifications for broader project management expertise. Chartered Quantity Surveyor (MRICS) for those with a background in quantity surveying and construction cost management. LEED or Sustainability Certifications: In projects that emphasize sustainability, knowledge of green building standards can be a plus.
  • Strong understanding of cost estimation techniques, budget development, and cost breakdown structures (CBS).
  • Ability to monitor and control costs throughout the project lifecycle, identifying potential issues early and taking corrective actions.
  • Proficiency in analyzing project financials, understanding variances, and forecasting costs.
  • Familiarity with various construction contract types (e.g., lump sum, cost-plus, unit price) and their impact on cost management.
  • Ability to work closely with contractors and suppliers to ensure that costs are controlled and payments are made in accordance with the contract terms.
  • Experience in identifying and managing financial risks and uncertainties associated with construction projects.

Working Hour

Monday to Friday 8.30am to 6pm

What are the Perks working at PMX Malaysia?

  • Competitive Salary and Monthly Allowance
  • Medical and Insurance Benefits
  • Learning and Development Opportunities
  • Free parking at company's premises
  • Exciting Recreational & Employee Engagement

Job Types: Full-time, Contract

Contract length: 24 months

Pay: RM8, RM12,000.00 per month

Ability to commute/relocate:

  • Nilai: Reliably commute or planning to relocate before starting work (Required)

Education:

  • Bachelor's (Required)

Experience:

  • Cost Engineer: 5 years (Required)

License/Certification:

  • Project Management Professional (Required)
  • Certified Cost Professional (Required)

Work Location: In person