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Costing & Estimation Engineer
4 weeks ago
Role & responsibilities
Cost Estimation: Analyzing project requirements, specifications, and design concepts to develop accurate cost estimates for aerospace projects. This involves identifying cost drivers, such as materials, labor, tooling, equipment, and overhead expenses, and using historical data, industry benchmarks, and cost models to forecast project costs.
Resource Planning: Determining the resources required for aerospace projects, including personnel, equipment, facilities, and materials. This involves collaborating with project managers, engineers, and procurement specialists to identify resource needs and allocate resources effectively to meet project objectives.
Bid Preparation: Assisting in the preparation of bids and proposals for aerospace contracts, including compiling cost estimates, developing pricing strategies, and preparing bid documentation. This may involve conducting cost analyses, risk assessments, and sensitivity analyses to support bid decisions and negotiations.
Schedule Estimation: Estimating project timelines and schedules based on project scope, resource availability, and production constraints. This involves developing project schedules, milestone timelines, and critical path analyses to ensure that RFQs are completed on time and within budget.
Risk Assessment: Identifying and assessing risks and uncertainties that may impact project costs, schedules, and outcomes. This includes conducting risk analyses, scenario planning, and sensitivity analyses to evaluate the potential impact of risks and develop risk mitigation strategies.
Value Engineering: Identifying opportunities for cost optimization and value engineering to improve project efficiency and cost-effectiveness. This involves evaluating alternative design, manufacturing, and procurement strategies to achieve cost savings without compromising quality or performance.
Cost Tracking and Control: Monitoring project costs throughout the project lifecycle and implementing cost control measures to ensure that projects remain within budget. This includes tracking actual costs against budgeted costs, identifying variances, and implementing corrective actions as needed to address cost overruns or deviations.
Cost Reporting: Generating regular reports and updates on project costs, budgets, and financial performance for project stakeholders, including management, clients, and regulatory authorities. This involves presenting cost data in a clear and understandable format and providing insights into cost trends, forecasts, and risks.
Benchmarking and Analysis: Conducting benchmarking and comparative analysis of project costs and performance against industry standards, historical data. This helps identify opportunities for improvement and optimization in cost estimation and project management practices.
Continuous Improvement: Continuously reviewing and refining cost estimation methodologies, tools, and processes to enhance accuracy, reliability, and efficiency. This involves staying updated with industry trends, best practices, and emerging technologies in cost estimation and
project management. Accountability: 1. Ensure RFQs are submitted within the stipulated time frame 2. RFQs are submitted as per business requirement
Preferred candidate profile
5-7 years of experience in the following: Costing & Estimation models Manufacturing process Surface treatment Different grades of raw material Customer Interaction Preferably in Aerospace Sector
