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    Duties and Responsibilities of Costing and Estimation Engineer

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    virnmontales

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    Duties and Responsibilities of Costing and Estimation Engineer

    Uploaded by

    virnmontales
    11 views3 pages

    Original Title

    DUTIES AND RESPONSIBILITIES OF COSTING AND ESTIMATION ENGINEER

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    Copyright:

    © All Rights Reserved
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    Download as docx, pdf, or txt
    11 views3 pages

    Duties and Responsibilities of Costing and Estimation Engineer

    Uploaded by

    virnmontales

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    JOB DESCRIPTION TITLE: COSTING AND ESTIMATION ENGINEER

    Definition:
    Cost Estimating is defined as: Provides cost estimates and price comparison costs for
    the worth of the products that the supply chain offers. It is the process of forecasting the
    costs associated with a project or activity. Moreover, it entails examining many aspects
    and variables to estimate the entire cost in executing a project or service to be provided.

    Purpose: Accomplish Precise Estimation.

    To ensure and arrive at accurate cost estimates and schedules, and to prevent
    timetable slippage and cost overruns.

    FUNCTION – Design, Bid and Control

    To prepare documents with attached defined and evaluated scope of works based on
    the approved plans and specifications.
    To be able to come up with a bid estimate or bid price, that often reflect the desire of the
    contractor to secure the project, that/which is profitable enough with no overruns nor
    overpriced.
    To make estimated cost for labor, materials and equipment that will be use to insure
    adequate cash flow as the work progresses.
    Position Summary:

     Project Analysis: Examine project specifications, drawings, and other material


    needed to determine the scope and requirements of the project.
     Establish Cost Estimate Scope: Outline the project’s need and scope, as well
    as its duration, phases that need to be estimated, and any upper bounds on
    estimates. Estimates are typically finished in 3 – 4 working days.
     Specify Assumptions or Constraints: Determine the financial and scheduling
    restrictions and how they will be met.
     Construct a Cost Element Structure: Identify every item specified in the scope
    that needs to be estimated.
     Gather and Track Information: Gather and keep track of information, control
    changes, develop a backup plan, manage risks, and communicate. Assess,
    measure and report on progress.
     Develop Cost Estimating Bonds: Create spreadsheets or formulas that are
    needed into the cost model. It will be the foundation for cost estimation as a
    function of EFEXS Builders Inc.
     Document Method: For every cost factor, include documentation outlining the
    data sources, underlying assumptions and any additional methodology or
    analysis.
     Feedback from Customers: Make sure the customer has received a complete
    presentation of all anticipated expenses for review and evaluation, approval and
    acceptance of the estimates.
     Finalize Cost Estimate: Finalize the cost estimate. Maintain all files, data
    related to the projects.
    Primary Responsibilities:

     Assist in preparing cost data for proposals and contract negotiations.


     Establish the project’s scope, specify it’s needs, and adhere to client demands
    and timelines.
     Follow the Estimating life‐cycle in accordance with prescribed standards and
    procedures.
     Prioritize quotes based on the overall opportunities assessment and analysis.
     Develop and implement requirements for cost recording, reporting, and analyzing
    standards, programs, and reports. Performs performance monitoring and control
    functions for specific applications, including the consistent use of applicable
    procedures.
     Provide financial reporting, trending data. Perform data analysis and
    development.
     Develop and/or revise manufacturing processes, procedures, work instructions.

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