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PARSONS
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Principal Cost Engineer

Job Description and Requirements

Major Activities Performed:

  • Develops systems which provide project management with needed cost 
    and invoice control information.
  • Directs contractor through the post-award conference and 
    subsequent meetings on establishing a contract breakdown for progress 
    monitoring, cash flow preparation, work estimate preparation, documentation 
    requirements and other financial related matters.
  • Prepares commitment and expenditure fiscal requirements forecast 
    which eventually become the annual budget. 
    Performs variance analyses offering explanations for deviation from 
    planned levels of commitments and expenditures.
  • Reviews and validates contractor’s work estimates, change order 
    requests and invoices for accuracy, consistency and continuity of cost data. Participates 
    in field surveys of completed work to verify contractor claimed quantities on 
    work estimates.
  • Established and maintains cost control tracking on unit price 
    contracts – monitoring the latest estimate-to-complete quantities vs. contract 
    quantities and alerting management of any potential overruns well before they 
    occur.
  • Assists the Senior Resident Construction Manager in identifying, 
    preparing and documenting change orders which affect cost. Closely coordinates 
    with the Contractor’s Estimator on those estimates requiring his expertise.
  • Responsible for establishing the CVFC (Contracts Value Forecast at 
    Completion by assigning trends to all forecast changes affecting cost, scope or 
    schedule.
  • Responsible to alert management to any potential Royal Commission 
    financial exposure relating to a particular contract be it due to contractor’s 
    financial instability, claims, over-billing or failing to follow contractual 
    requirements.
  • Responsible for updating relevant CSR’s (Contract Status Reports) 
    on all active contracts in the Program Progress Report by indicating contract 
    values, forecast values, scheduled and actual expenditures and percentage 
    progress billed.
  • Responsible for updating forecast values of active contracts in 
    the cost reimbursable/unit price contract report by incorporating potential 
    modifications and updating actual expenditures.

Organizational Relationship: 

The Principal Cost Engineer is assigned to the RCHQ Construction 
Staff. He works directly for the Project Manager. A close relationship is maintained with the 
RCHQ Contractor and the SRCM. During budget reviews and presentations, frequent 
contact with program management takes place.

Experience and Qualifications:
  • Candidate must have Bachelor Degree in Engineering, Business 
    Administration or related field
  • Candidate must have a minimum of 10 years of experience in project 
    cost controls with at least (6) years of directly related senior cost 
    engineering experience
  • Membership in a professional association such as the Association 
    of American Cost Engineering (AACE) is desirable
  • Candidate must be fluent in English (writing, reading and 
    speaking)
  • Candidate must be computer literate and skilled with MS Word, MS 
    Excel and PowerPoint. Cost analysis software will be plus.