Cost Engineer

We are seeking a detail-oriented and analytical Cost Engineer to lead project budgeting, cost estimation, expenditure tracking, and project settlement across engineering and construction initiatives. Reporting to the Project Controls / Commercial Manager, this role is responsible for monitoring project cash flows, analyzing cost variances, forecasting completion costs, and implementing trend management processes to evaluate schedule impacts, risks, and mitigation strategies.

This position involves developing accurate cost databases through local market research, assisting in contractor tendering and negotiations, and managing both upstream and downstream payment applications. In addition, the position coordinates closely with Engineering, Operations, and Commercial teams to perform progress acceptances, oversee final contract settlements, and ensure full compliance with health, safety, and regulatory standards.

Responsibilities

Develop comprehensive cost estimates and project budgets based on engineering drawings, technical specifications, and local market intelligence.; Conduct continuous market surveys to maintain up-to-date unit price databases and market rate records.; Support the project tendering process, evaluate contractor bids, and participate in commercial negotiations to ensure budget alignment.; Track project commitments, actual expenditures, and forecast costs to complete against approved baselines.; Conduct variance analysis, assess cost/schedule impacts, and prepare regular cost reporting with actionable commentary for key stakeholders.; Evaluate risks and opportunities, supporting the development of cost contingency plans and trend management strategies.; Lead progress acceptance checks, review contractor payment claims, and manage final contract settlements and documentation.; Oversee downstream payment assessments and assist in the compilation and submission of upstream payment requests.; Ensure all construction cost activities comply with corporate Health, Safety, and Environmental (HSE) guidelines and local regulatory requirements.

Requirements

Bachelor’s Degree or equivalent tertiary qualification in Cost Engineering, Quantity Surveying, Civil Engineering, Construction Management, or a related field.; Minimum 3 to 5 years of progressive experience in cost engineering, budgeting, and project controls within heavy industrial, engineering, or large-scale construction environments.; Strong technical expertise in engineering, procurement, contracts, construction processes, and financial reporting/controls.; Hands-on experience with digital budgeting and project control software, alongside advanced proficiency in financial analysis and numeracy tools.; Practical understanding of international and regional construction standards, contract drafting, and estimation methodologies.; Strong analytical and problem-solving skills with a proven track record of identifying cost drivers and trend analysis.; Excellent English and Chinese communication skills.; Demonstrated commitment to workplace health, safety, and environmental stewardship.