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Cost Engineer

Cost Engineer

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Project Controls

More information about this job

About Costain and your project.

Costain helps to improve people’s lives by deploying technology-based engineering solutions to meet urgent national needs across the UK’s energy, water and transportation infrastructures.


Costain have been contracted for the design and build of a facility near Reading.  The scope of works for this project will include Programme Management, Construction, Building Services (M&E), Instrumentation and Control Systems and various external works.


Potential candidates for this role must be able to obtain and retain Security Clearance to be able to be considered.

What will I be doing?

  • Provide an integrated, timely and reliable Cost Reporting service to both internal and external stakeholders. Act as the first point of contact for all Cost Engineering (and where applicable Project Accounting) activities on the project. Reporting (in a project capacity) to the Project Controls Manager, Contract Manager or designated representative.
  • Work closely with Planning to ensure integration of cost and planning artefacts on the project.
  • Continually monitor Project Risk and Change status to maintain current forecast.
  • Produce change requests and supporting data for any change of project baselines understanding the reasons for and factors influencing each change to the project’s cost baseline plus the implications of such change.
  • Control, monitor, analyse and report cost related aspects for designated work packages
  • Implement the correct and appropriate cost management tool for the project in accordance with Project processes/templates.
  • Development of & use of Project Control Structures (CBS, OBS, WBS etc.) to be aligned to the WBS & the original Cost Time Resource (CTR) Pricing Estimates
  • Ensure all cost and contract transactions are understood and managed in an appropriate way and regular communication takes place with finance
  • Liaise with Project team members and contractors with regards to providing detail forecast information on the final outturn of the project or for financial forecasting
  • Monitor, control and analyse the project cost information. Challenge cost variances against the baseline plan with individual task leaders/contractors and/or outside stakeholder management as necessary to enable mitigation. Prepare specific reports to facilitate challenge and analysis to meet the project’s specific needs.
  • Contribution of analytical skills to assess potential cost challenges or opportunities.
  • Possesses good communication skills and is able to relate in a confident manner to people at all levels, particularly with Intelligent Client Representatives.
  • Expert in using Microsoft suite of software with particular expertise of Excel and should have had exposure to various bespoke cost management software systems.
  • Create cost collection codes & cost reporting templates in conjunction with the reporting lead
  • Collection and allocation of actual costs and control of approved changes to budget
  • Production of Estimates at Completion (EAC)); Ensure the basis of Estimates at Completion (EAC) (“forecast”) is predicated using industry recognised approaches, including but not limited to, EVM productivity as to ensure accurate, reliable and consistent forecasting.
  • Internal Client Reporting shall include preparation of a number of elements of the Standard Costain Contract’s Leader Report (CLR) on a monthly basis ensuring appropriate back-up through Enterprise One (E1 - the company’s primary financial system) & Internal Cost Reports to enable effective value and profit recognition to be made for the company accounts.
  • Close Out Cost Management Framework on completed Contract(s)
  • Financial Closure (ensure all payments received and made)
  • Ensure that adequate cost records are maintain during Contract execution

About you

  • Project Controls qualification (e.g. QCF diploma at a minimum of Level 3) or be a Qualified Engineer (i.e. HNC or equivalent) or Qualified Accountant (e.g. CIMA or ACCA), or appropriate experience can be demonstrated.
  • High level of numeracy and excellent analytical skills.
  • Excellent MS Office skills and well versed in the preparation of reports and information using packages such as Word, Excel, Project, Visio, Access
  • Exhibits a strong awareness of the level of interaction required with the project team function to support the successful delivery of projects.
  • The ability to reconcile cost information as it applies to the programmes of work.
  • Self-motivated with good interpersonal skills working in a team environment.
  • Good attention to detail with good time management skills.
  • Excellent communication and presentational skills.
  • Ability to work flexibly within the demands of the project.
  • Experienced in the implementation and use of earned value analysis (schedule and performance management within a cost engineering environment)
  • Good working knowledge of financial systems.
  • Understand the inter-relationship between time cost and commercial aspects of the project
  • Experience in a multi-discipline ‘home office’ Engineering, Procurement and Construction (EPC) environment.

Final Statement

We listened to our employees so our Core Benefits are funded by us and include a Group Pension Scheme, Employee Assistance Programme, Life Assurance, Income Protection and funded membership to a Professional Institute. In addition to this we also offer a Private Healthcare Scheme, Private Dental Scheme, Childcare Vouchers, Cycle to Work, Volunteering Days and Save as You Earn Scheme.   


At Costain we ensure that we are an accessible, diverse and inclusive organisation to continue to meet our customers’ needs. We will be industry leading in our approach and people from all backgrounds will be proud to work for Costain. Our goal is to have a workforce that is representative of society.


We actively encourage applications from candidates who have a relationship with the armed forces community whether as a currently serving member or reservist, ex-military or wounded personnel or as a member of a service family.