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Cost Engineer

Cost Engineer

Requisition ID 
Work Location 
Department / Discipline 
Mining & Minerals
Additional Work Location 
Position Type 
Agency / Contract

Job Description

Overview / Responsibilities

Wood is currently recruiting for a Cost Engineer with extensive experience.


  • Demonstrate high levels of confidentiality
  • Advise the Project Manager on contractual matters relating to the project cost control and the risks associated with the project costs
  • Define the project work breakdown structure (WBS) to ensure compatibility with the applied project cost control system
  • Compile the baseline budget to the agreed WBS from the control budget estimate (CBE) that was agreed to by the client for: Indirect field costs, Direct field costs, Other costs including insurances, legal costs and professional fees, Owners costs (if applicable)
  • Allocate budget and committing correct amounts in CBE and applied project cost control system and providing correct WBS codes for budget and commitment values to be allocated against
  • Liaise with Contract Administrators and Procurement Officers to allocate commitment amounts for packages
  • Attend project kick off, progress, cost control and planning meetings and implement approved changes in the cost control system as directed as a consequence of these meetings
  • 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, rate of exchange fluctuations, calculate forecast at completion, manage change control for cost adjustments where necessary and report cost variances
  • Maintain change control register and issue register
  • Process budget shifts and scope changes against the CBE and applied project cost control system when such changes are registered
  • Calculate forecast to complete (FTC) and forecast at completion (FAC) costs with the relevant project personnel and update the applied project cost control system accordingly
  • Forecast cash flow
  • Prepare reports summarizing and forecasting project activity and financial position, including cost reports that show the original budget, current budget, commitments, FAC, incurred and expended values and variances
  • Provide corrective actions / recommendations for variances between budget and commitments
  • Oversee the project accountant / s in respect of the costs produced for reporting of project performance and client invoicing
  • Oversee the project accountant / s in respect of capital contractor invoicing and processing of such for payment by the company or the client (for and on behalf of)
  • Assist in the compilation of project close out reports by preparation and submission of cost control data
  • Assist in arranging and preparing for project audits
  • Undertake peer reviews of other projects from a cost control perspective as requested by management
  • Travel to project sites as and when required

Skills / Qualifications

  • A degree in commerce or engineering or alternatively a cost engineering qualification / certification (AACE)
  • Minimum eight years’ experience in a cost and management accountant role in the mining, construction or manufacturing industries
  • Advanced skills in the cost control process of multi-discipline EPCM and EPC projects

Company Overview

Wood is a global leader in the delivery of project, engineering and technical services to energy and industrial markets. We operate in more than 60 countries, employing around 55,000 people, with revenues of around $10 billion.  We provide performance driven solutions throughout the asset life cycle, from concept to decommissioning across a broad range of industrial markets including the upstream, midstream and downstream oil & gas, power & process, environment and infrastructure, clean energy, mining, nuclear and general industrial sectors. We strive to be the best technical services company to work with, work for and invest in.


Diversity Statement

We are an equal opportunity employer that recognises the value of a diverse workforce. All suitably qualified applicants will receive consideration for employment on the basis of objective criteria and without regard to the following (which is a non-exhaustive list): race, colour, age, religion, gender, national origin, disability, sexual orientation, gender identity, protected veteran status, or other characteristics in accordance with the relevant governing laws.


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