Cost Engineer

3 weeks ago

Chennai, India STANCO Solutions Pvt Ltd Full time

Job Description – Cost Engineer (3–5 Years Experience)Location: HosurSalary: Upto 6-7 LPAExperience Required: 3–5 YearsAbout the RoleWe are seeking a highly skilled Cost Engineer to support our engineering and project teams by ensuring accurate cost estimation, effective budgeting, disciplined cost control, and proactive forecasting. The ideal candidate will have hands-on experience in evaluating investment feasibility, performing risk analysis, and ensuring alignment between planned and actual project costs.This role requires strong analytical skills, attention to detail, and the ability to work cross-functionally with engineering, procurement, finance, and project management teams.Key ResponsibilitiesCost Estimation & BudgetingPrepare detailed cost estimates for new and ongoing engineering projects.Develop and monitor project budgets, ensuring adherence to cost targets.Analyze cost drivers and propose cost optimization initiatives.Cost Control & MonitoringTrack actual project costs vs estimated costs and identify variances.Conduct monthly and quarterly cost analysis reports.Implement corrective actions for cost overruns.Forecasting & Investment AppraisalConduct cash flow forecasting and long-term cost projections.Evaluate project feasibility and ROI using investment appraisal techniques.Assist in preparing business cases for capital expenditure approvals.Risk & Opportunity AnalysisIdentify cost-related risks and recommend mitigation measures.Perform sensitivity analysis and scenario-based cost modeling.Cross-Functional CoordinationCollaborate with engineering, procurement, and finance teams to validate costs.Support procurement by evaluating vendor quotations and pricing trends.Ensure compliance with internal cost standards and financial guidelines.Educational QualificationBachelor’s degree in Engineering, Finance, or related discipline.

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