Cost Estimator

Roles and Responsibilities

Responsibilities:
Provides technical expertise in support of capital projects. Acts as a subject matter expert in resolving cost estimating issues. Analyzes and evaluates commercial and technical proposals. Identifies and quantifies cost factors, using software to calculate estimates. Prepares and presents cost reports to clients. Reviews expenditure statements during project phases.

Qualifications

Minimum:
15 years of experience in Oil and Gas industry.
Must have a bachelor’s degree with a minimum of 5 years of experience in a similar role.

A Cost Estimator is responsible for analyzing project costs and preparing accurate estimates for budgets and bids. This role is essential in helping organizations plan projects effectively and ensure financial viability.

Key Responsibilities

1. Cost Analysis: Analyzing project specifications, drawings, and documents to determine cost implications and requirements.
2. Estimating Costs: Preparing detailed cost estimates for materials, labor, equipment, and overhead for various projects, including construction, manufacturing, or services.
3. Researching Prices: Gathering and analyzing data on costs of materials, labor rates, and market conditions to inform estimates.
4. Bid Preparation: Collaborating with project managers and engineers to prepare bids and proposals for potential clients, ensuring all cost elements are accounted for.
5. Budget Development: Assisting in the development of project budgets and financial plans, tracking expenditures and comparing them to estimates.
6. Risk Assessment: Identifying potential risks that could impact costs and developing strategies to mitigate these risks.
7. Collaboration: Working closely with other departments (engineering, procurement, project management) to ensure alignment on cost estimates and project goals.
8. Reporting: Preparing reports on estimated versus actual costs, highlighting variances and providing insights for future projects.
9. Continuous Improvement: Reviewing and updating estimating processes and methodologies to improve accuracy and efficiency over time.

A successful Cost Estimator typically holds a degree in finance, engineering, construction management, or a related field, along with experience in cost estimation or project management. Strong analytical skills, attention to detail, and proficiency in estimating software and tools are essential for success in this role.

Desired Candidate Profile

A Cost Estimator is responsible for analyzing project costs and preparing accurate estimates for budgets and bids. This role is essential in helping organizations plan projects effectively and ensure financial viability.

Key Responsibilities

1. Cost Analysis: Analyzing project specifications, drawings, and documents to determine cost implications and requirements.
2. Estimating Costs: Preparing detailed cost estimates for materials, labor, equipment, and overhead for various projects, including construction, manufacturing, or services.
3. Researching Prices: Gathering and analyzing data on costs of materials, labor rates, and market conditions to inform estimates.
4. Bid Preparation: Collaborating with project managers and engineers to prepare bids and proposals for potential clients, ensuring all cost elements are accounted for.
5. Budget Development: Assisting in the development of project budgets and financial plans, tracking expenditures and comparing them to estimates.
6. Risk Assessment: Identifying potential risks that could impact costs and developing strategies to mitigate these risks.
7. Collaboration: Working closely with other departments (engineering, procurement, project management) to ensure alignment on cost estimates and project goals.
8. Reporting: Preparing reports on estimated versus actual costs, highlighting variances and providing insights for future projects.
9. Continuous Improvement: Reviewing and updating estimating processes and methodologies to improve accuracy and efficiency over time.

A successful Cost Estimator typically holds a degree in finance, engineering, construction management, or a related field, along with experience in cost estimation or project management. Strong analytical skills, attention to detail, and proficiency in estimating software and tools are essential for success in this role.