Lead Cost Engineer

Position Overview

Parsons is seeking a highly skilled and experienced Lead Cost Engineer to join our dynamic team. In this pivotal role, you will play a critical part in driving the financial success of major infrastructure, construction, and industrial projects by overseeing cost planning, budgeting, forecasting, and financial reporting throughout the entire project lifecycle. Your expertise will be instrumental in ensuring accurate cost monitoring, analysis, and reporting, enabling informed decision-making and the successful delivery of projects. You will collaborate closely with cross-functional teams, including Planning, Commercial, Procurement, Engineering, Finance, and Project Controls, to maintain alignment between project scope, schedules, and financial performance.

Key Responsibilities

As the Lead Cost Engineer, you will be responsible for a wide range of critical functions, including:

• Cost Planning and Budgeting: Develop, maintain, and refine project budgets, cost plans, and cost estimates to establish robust baselines for financial control and project execution.
• Cost Monitoring and Control: Track project costs, commitments, expenditures, accruals, and forecasts to identify variances, trends, and financial risks. Ensure alignment between project scope, Work Breakdown Structure (WBS), schedules, and cost data.
• Financial Reporting and Analysis: Prepare periodic cost reports, dashboards, financial summaries, and project performance reports to provide stakeholders with actionable insights. Conduct cost variance analysis to identify trends, risks, opportunities, and recommend corrective actions.
• Forecasting and Estimation: Assist in preparing cash flow forecasts, expenditure plans, and project funding requirements. Support the development of Estimate at Completion (EAC) and Estimate to Complete (ETC) forecasts to guide financial decision-making.
• Change Management: Evaluate design changes, variations, scope modifications, and change requests from a cost engineering perspective. Review contractor quotations and variation submissions, maintaining change registers, variation logs, and cost tracking records.
• Commercial and Risk Evaluation: Assist in preparing cost impact assessments, commercial evaluations, and management recommendations. Support Earned Value Management (EVM) analysis and cost performance measurement to enhance project outcomes.
• Stakeholder Collaboration: Coordinate with Planning, Commercial, Procurement, Engineering, Finance, and Project Controls teams to ensure consistent and accurate project cost reporting. Participate in project reviews, progress meetings, cost workshops, and commercial discussions to foster alignment and transparency.
• Risk Management and Optimization: Identify project cost risks and support the development of mitigation strategies. Contribute to value engineering and cost optimization initiatives to improve project performance and financial efficiency.
• Financial Governance and Compliance: Maintain project cost records, approvals, forecasts, and supporting documentation in compliance with organizational and regulatory requirements. Support project audits, financial reviews, and governance activities to ensure adherence to standards.
• Project Closeout and Continuous Improvement: Assist with final account preparation, project closeout reporting, and financial reconciliation. Contribute to lessons learned, cost benchmarking, and continuous improvement initiatives to drive operational excellence.

Qualifications and Skills

To excel in this role, you will bring the following qualifications and expertise:

• A Bachelor's Degree in Engineering, Quantity Surveying, Construction Management, Cost Engineering, Finance, or a related discipline.
• A minimum of 20 years of progressive experience in Cost Engineering, Project Controls, Quantity Surveying, Commercial Management, or a related field.
• Proven track record in supporting large-scale construction, infrastructure, industrial, or capital projects, with a focus on cost monitoring, analysis, and financial reporting.
• Strong proficiency in cost estimation, budgeting, forecasting, and financial analysis techniques.
• Excellent analytical, problem-solving, and communication skills, with the ability to present complex financial data in a clear and concise manner.
• Proficiency in project management software, cost control tools, and financial reporting systems.
• Demonstrated leadership abilities, with the capacity to mentor and guide junior team members while collaborating effectively with stakeholders at all levels.
• Commitment to maintaining the highest standards of professionalism, integrity, and ethical conduct.

Why Join Parsons?

At Parsons, we are committed to fostering an innovative and inclusive culture that values people, embraces agility, and promotes growth. By joining our team, you will have the opportunity to work on transformative projects that shape the future of infrastructure and industry. You will collaborate with exceptional professionals, unleash your talent, and redefine what’s possible in your career. Parsons offers a dynamic work environment, competitive compensation, and a comprehensive benefits package designed to support your professional and personal development.

If you are a results-driven Cost Engineer with a passion for excellence and a desire to make a meaningful impact, we invite you to apply and become a part of our visionary team.