Costing Engineer

Job Title: Costing Engineer

Reports to: Manager

Department: Engineering, Procurement

Job Summary:

The Costing Engineer will develop and maintain accurate cost estimates, budgets and forecasts for projects, products and services. This role ensures cost-effectiveness, optimizes resources and supports business decision-making.

Key Responsibilities:

Cost Estimation and Analysis

1. Develop detailed cost estimates for projects, products and services.

2. Analyse cost data, industry trends and market conditions.

3. Identify cost-saving opportunities and optimize resources.

4. Conduct site visits to gather data and assess project requirements.

Budgeting and Forecasting

1. Create and manage project budgets and forecasts.

2. Monitor and report on cost performance.

3. Identify and mitigate cost risks.

Cost Control and Optimization

1. Implement cost-control measures and track expenses.

2. Optimize design, materials and processes for cost-effectiveness.

3. Collaborate with cross-functional teams to reduce costs.

Reporting and Communication

1. Prepare and present cost reports to stakeholders.

2. Communicate cost-related issues and recommendations.

3. Ensure transparency and accuracy in cost reporting.

Other Responsibilities

1. Develop and maintain cost databases and benchmarks.

2. Participate in project planning and risk assessment.

3. Collaborate with procurement teams on contract negotiations.

4. Stay updated on industry trends, regulations and best practices.

Requirements:

Education:

- Bachelors degree in engineering (Mechanical)

Experience:

- 3+ years of experience in cost engineering, estimating or related field.

- Experience in fabrication (Press shop, weld shop), injection moulding and surface coating treatments like powder coating, plating and painting is preferable.

Skills:

1. Strong analytical and problem-solving skills.

2. Proficient in cost estimation software (e.g., SAP, Oracle, Excel).

3. Excellent communication and presentation skills.

4. Ability to work collaboratively.

5. Strong attention to detail.

6. Project management knowledge.

7. Familiarity with industry standards and regulations.