Cost Estimator

4 days ago

powai, India LT-Larsen & Toubro Limited Full time

Job DescriptionsResponsible for producing timely cost estimates with defined quality and accuracy.Review tender documents, access the type of tender, and determine prioritization of tender based on the bid submission date.Attend the proposal kick-off meeting to plan the bid strategy and determine the method of performance based on the scope of work.Coordinate and follow up with the cost input centres like engineering, project management, supply chain, fabrication yard, taxation, insurance, finance & accounts, treasury, etc. for timely submission of data to meet overall project estimation deadlines and align the cost estimation framework accordingly. Review and analyze inputs provided by different cost centres and collate them into a cost estimation framework.Review the Risk Register and mitigation plan to evaluate the project/risk contingencyPerform cost estimation, compiling the cost of engineering, material, services, manpower, travel & living, fabrication, taxes, duties, insurance, etc.Evaluating the economic viability of proposalsPerform quality checks on estimates prepared to ensure accuracy.Perform cost analysis and benchmarking with similar projects submitted in the past.Prepare commercial deviations and basis of the cost estimate.Initiate an estimate review meeting with the management/leadership team.Presenting the bid review package to management for competitive pricing decisions.Techno-commercial compilation of the proposal and ensure timely submission. Maintain estimate files in a traceable manner with all backup files.Maintain a database that serves as a reference for future projects and facilitates quick cost estimates with accountability and transparency.Continually refine estimation processes and methodologies based on various feedback, lessons learned, and industry best practices.Participate in post-bid clarification meetings with clients. Formulating a budget for a successful proposal and handing it over to the project's department.

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