Costing Engineer

Heston Group

Location: Al Ahmadi, Al Kuwait - Kuwait

Experience: 10 - 15 Years

Education: Bachelor of Technology/Engineering

Nationality: Any Nationality

Job Description

Overview of the Role:

The Costing Engineer at Heston Group is responsible for developing accurate and comprehensive cost estimates for projects within the oil and gas, refining, and petrochemical industries. This role involves understanding the project scope, preparing bills of quantities, and estimating costs by analyzing various cost elements such as manpower, materials, and equipment. The Costing Engineer plays a critical role in ensuring that projects are financially viable and aligned with budgetary constraints.

Roles & Responsibilities:

1. Cost Estimation:

Project Analysis: Understand and analyze the scope of work for each project, ensuring all cost elements are accounted for in the estimation process.

Bill of Quantities Preparation: Prepare detailed bills of quantities (BOQ) that reflect the project's requirements, including materials, labor, and equipment.

Cost Databank Utilization: Utilize the company's cost databank to estimate costs accurately, considering historical data and current market rates.

Material and Equipment Costing: Estimate the costs for materials, equipment, and special tools required for the project, ensuring that all elements are appropriately priced.

2. Manpower Estimation:

Manpower Requirements: Determine the manpower requirements for the project, including the number of personnel needed and their respective skill levels.

Labor Costing: Calculate labor costs based on current manpower rates, ensuring that the estimates align with industry standards and project budget constraints.

Specialist Resources: Identify the need for any specialist resources or subcontractors and estimate their associated costs.

3. Financial Analysis:

Cost Control: Monitor and manage project costs to ensure they remain within the approved budget.

Variance Analysis: Analyze any deviations from the estimated costs and provide explanations or corrective actions as needed.

Budget Preparation: Collaborate with project managers and finance teams to prepare project budgets, ensuring all cost elements are included.

4. Reporting and Documentation:

Cost Reports: Prepare and submit detailed cost reports to project stakeholders, providing transparency and accountability.

Documentation: Maintain comprehensive records of all cost estimates, BOQs, and related documents for future reference and audit purposes.

Stakeholder Communication: Communicate effectively with project managers, engineers, and other stakeholders to ensure that cost estimates align with project objectives and timelines.

5. Continuous Improvement:

Process Enhancement: Identify opportunities to improve cost estimation processes, methodologies, and tools, contributing to the overall efficiency of the department.

Market Research: Stay updated on market trends, material costs, and labor rates to ensure that estimates are competitive and accurate.

Key Qualifications & Skills:

1. Educational Background:

Degree: Bachelor's degree in Engineering, preferably in a discipline related to the oil and gas or petrochemical industries.

2. Professional Experience:

Experience Range: Minimum of 10 years of experience in costing and cost estimation within the oil and gas, refining, or petrochemical sectors.

Industry Knowledge: In-depth understanding of the various cost elements required for project costing in these industries.

3. Technical Skills:

Cost Estimation Tools: Proficiency in using cost estimation software and tools, as well as familiarity with cost databanks.

Project Management: Strong project management skills, including the ability to manage multiple cost estimation tasks simultaneously.

Analytical Skills: Excellent analytical skills, with the ability to interpret complex data and make informed decisions.

4. Personal Attributes:

Attention to Detail: High attention to detail, ensuring that all cost elements are accurately captured and reported.

Communication Skills: Strong communication skills, with the ability to articulate cost estimates and financial data clearly to stakeholders.

Team Collaboration: Ability to work collaboratively with cross-functional teams, including engineers, project managers, and finance professionals.

Problem-Solving: Proactive approach to problem-solving, with the ability to address challenges in cost estimation effectively.

5. Additional Requirements:

Adaptability: Ability to adapt to changing project requirements and market conditions.

Ethical Standards: Adherence to high ethical standards in cost estimation and financial reporting.

Contact Information:

For further inquiries or to apply for this position, please contact:

Email: info@hestongroup.com