Cost Estimation Incharge

Cost Estimation Incharge.

Project Cost Estimation and Analysis:

• Prepare complete project cost estimates including BOQ, in-depth rates analysis, and benchmarking with comparable projects for HAM, TOT, BOT highway bids based on bid documents and site conditions to ensure comprehensive and competitive bidding.
• Provide in-depth rate analysis and cost estimation of the bids based on MORTH/IRC specifications to align with industry standards.
• Finalize quantities after discussing with the Design team to ensure accuracy in material requirements.
• Prepare and finalize cost estimates for bidding through a complete analysis of project scope requirements to ensure the most competitive and accurate cost projections.
• Identify available local materials by conducting site studies to ensure the project cost estimate is competitive.
• Record and maintain a database of scope, bid documents, and drawings as required to ensure easy retrieval and reference for future projects.
• Provide and seek necessary data from the Techno-commercial and Design teams for timely cost estimates of bids to ensure seamless collaboration and information flow.
• Analyse and compare contractor offers with internal estimates to arrive at a workable and competitive price in order to ensure financial accuracy and competitiveness.
• Identify value engineering options and their implementation to optimize project costs.
• Evaluate market prices and indices to prepare cost estimations to ensure realistic and market-aligned cost projections.
• Calculate the maintenance part of the project to ensure comprehensive cost coverage.

Vendor and Procurement Management:

• Interact with pre-bid subcontractors to provide necessary clarifications, review their submitted quotes, and assist in negotiations to finalize the quote in order to secure the best possible terms.
• Obtain the prices to be quoted for supply items in consultation with the Techno-commercial team to ensure cost-effectiveness.
• Support vendor management activities to ensure the procurement of high-quality materials at competitive prices.
• In collaboration with the Techno-commercial team, support negotiations with vendors for costing and requirement understanding to ensure cost-effective procurement and project success.

Documentation:

• Prepare necessary presentations showing the study of bids to effectively communicate cost estimations and strategies.
• Track and record bid documents and all amendments closely for future reference to ensure accurate and historical data management.
• Finalize the EPC cost in consultation with the Tendering Head to ensure the bid's financial viability.

Team Development and Collaboration:

• Build a strong in-house team and develop a robust cost database to manage the entire process in-house, but also collaborate with consultants and external experts when required in order to enhance estimation accuracy and efficiency.
• Visit sites periodically, interact with vendors and contractors as needed, and work on the estimation for the bids to ensure accurate and on-site verified cost assessments.
• Use technology/AI to handle, study and analyze large volumes of data in shorter duration.

Additional Responsibilities:

• Study the latest technical specifications, technological advancements in the industry, and applicability of the same in projects to ensure up-to-date and innovative cost estimation practices.
• Assist in other assignments like change of scope and preparation of claim statements to support project changes and claims management.

Key Stakeholders - Internal:

• Techno Commercial Team
• Planning
• Projects

Key Stakeholders - External:

• Contractors
• Vendors

Education Qualification:

• BE / B.Tech in Civil Engineering

Work Experience (Range of years):

• 10+ years of work experience

Preferred Industry: Construction and Infrastructure Development