Become A Cost Engineer

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Working As A Cost Engineer

Making Decisions and Solving Problems
Getting Information
Identifying Objects, Actions, and Events
Interacting With Computers
Communicating with Supervisors, Peers, or Subordinates

Deal with People
$77,924
Average Salary

What Does A Cost Engineer Do At United Technologies Corporation

* Develop and maintain part cost models
* Define estimating rationale to support part cost
* Maintain cost estimating methods and models
* Review engineering changes, part drawings and manufacturing data to analyze impact to manufacturing cost
* Support Technology Readiness and Manufacturing Readiness by providing cost estimates and evaluations
* Utilize cost models to identify War on Cost opportunity associated with manufacturing production
* The Manufacturing Part Cost discipline leads the advancement of part cost forecasting and analysis methods, assesses financial impact of new technologies and develops/implements manufacturing cost reduction projects.
* The team’s skills comprise expertise in the following areas: manufacturing engineering, process planning, cost estimating and supporting software tools

What Does A Cost Engineer Do At Northrop Grumman

* Assisting project’s efforts to develop life cycle cost models, costtargets, incorporate targets into program baseline, and initiate and status efforts to meet target commitments.
* Support the project’s efforts to ensure that design solutions consider cost as a Key Performance Parameter along with technical and manufacturing requirements.
* Assist in the development and coordination of cost effectiveness analyses and business cases that reflect the ROI for cost reduction initiatives and facilitate implementation with project team and functional organizations.
* Utilize Sector affordability tools, databases, and cost estimating methodologies.
* Support the preparation, maintenance, and reporting of life cycle costs and affordability metrics to customers and management

What Does A Cost Engineer Do At E2 Consulting Engineers, Inc.

* Prepares detailed computer generated cost reports, charts and diagrams; Provides analysis and review of cost/budget expenditure and maintains cost control reports; Promptly reports anticipated cost overages or other unsatisfactory cost elements; Maintains liaison with Data Processing in developing support for network calculations, printouts and cost reports, and other cost related services.
* The Cost Engineer is the liaison between the Element/Project Manager, Project Controls and Capital Budget Manager and team, communicating project cost data, analysis and reports.
* Essential Job Duties
* The Cost Engineer duties may include, but are not limited to, the following:
* Monitor project budgets for the multi-billion dollar Capital Improvement Program at Los Angeles World Airports.
* Review and analyze consultant / contractor invoices and prepares job costing reports to allocate these expenditures against the appropriate WBS numbers.
* Ensure that both commitments and expenditures follow the same allocation methodology.
* Information is communicated to the Project Manager for review and input.
* Perform cost-to-complete analysis for all cost elements within a project taking into consideration staffing plans, contract commitments, and expenditures to date, change orders and trends.
* Attend project meetings to provide Management with current financial information and trend log regarding potential impacts to project budget or forecast.
* Provide progress reporting documents and briefing materials as required.
* Develop creative reporting tools to communicate complex project sequencing and/or progress assessments.
* Review task orders for consultant/contractors and sub-consultants to ensure necessary project budget and/or contract capacity exists.
* Provides input back to Contract Administration, Project Controls, Budget Managers and Project Managers.
* Analyze bid award values against current budget and prepare reconciliations to include in the current forecast at completion.
* Analyze change order values against current budget and prepare reconciliations to include in the current forecast at completion.
* Prolog
* Update project and contract commitments, reconcile and analyze actual expenditures, create budget transfers, monitor trend status and maintain continuity of project and financial WBS structure
* Perform project closeouts resourcefully to ensure as Prolog Data matters in LAWA’s reporting needs
* Prepare data to support documentation required journal vouchers for budget transfers
* Works with, provides information for review and gathers input from Contract Administrators, Project Controls, Budget Managers and Element/Project Managers.
* Position Requirements
* Hardware/Software Knowledge
* Thorough familiarity with MS office suite software
* Word, Excel, PowerPoint, and Outlook.
* Knowledge of Prolog is preferred.
* Professional Experience Level/Other Qualifications
* to 5-years cost engineering experience with 1- to 3-years in direct support of an active construction projects
* Demonstrated experience managing and reporting the cost components of large-scale, complex projects; including developing and managing a progress reporting methodology for a complicated design effort.
* Experience with Design
* Build and Construction Management at Risk delivery methods is desirable.
* Demonstrated proficiency with a large-scale cost reporting system is required; experience with Prolog is highly desirable.
* Demonstrated ability to understand technical and complicated construction program and the ability to communicate progress to both technical- and management-level personnel.
* Ability to work with others, a self-starter with results-driven focus.
* Flexible to a potentially varying shift time or overtime schedule.
* Education/Training
* Element
* Specific Requirements/Notes
* May assume other duties as required/needed
* May work overtime as required/needed
* May be required to work various shifts as needed
* PREFERRED METHOD OF APPLICATION IS THROUGH OUR ONLINE JOB SYSTEM.
* If you need accommodation or alternate method of resume submittal, please contact our Aiken, SC office.
* E2 Consulting Engineers is an AA/EEO/M/F/Vet/Disability Employer.
* All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status.
* Full
* Time/Part
* TimeFull
* Time
* Close Date
* Exempt/Non
* ExemptExempt
* Req NumberCA
* Open Date9/4/2017
* EOE StatementE2 Consulting Engineers is an Equal Opportunity Employer, F/M/Veterans/Disabled/Sexual Orientation/Gender Identity.
* If you need accommodation or alternate method of resume submittal, please contact Cindy Wilson at (803) 642
* This position is currently accepting

What Does A Cost Engineer Do At Samsung Mobile

* Monitor spending to ensure monthly targets are achieved for spare parts and raw materials
* Manage department cost reduction activities
* Perform gap analysis in spending and savings and work with equipment owners and management to drive improvements
* Ensure accurate tracking of parts and cost of ownership per tool/assembly
* Manage and monitor mix/max settings for optimal inventory of consumables
* Monitor part delivery and repair loop speed while providing clear communication to team on expected deliveries of high priority parts
* Identifying alternate sourcing and repair opportunities for high cost parts
* Identify and maintain safe inventory levels for low usage items to limit productivity losses
* Accurately forecast raw material usage
* Work with the SCM team and Cost Innovation on FAB wide initiatives
* Generate reports and presentations on department activities and performance to pla

What Does A Cost Engineer Do At Harman International

* Utilize internal and external databases to build cost models that will establish Design-to
* Cost targets for HARMAN Automotive products
* Define the HARMAN “best practice” cost reference for the following electronic systems to a component level:
* Infotainment Systems with and without Displays
* Telematics Control Units (TCU)
* Advanced Driver Assist Systems (ADAS)
* Car Audio Amplifiers Systems
* Analyze cost breakdowns from supplier quotes and understand all cost influent factors
* Lead the technical definition and implementation of electronic system cost modeling solutions, including the identification of analytics that enable trend data to be established.
* Develop close technical relationships with suppliers to identify best cost solutions, including emerging technologies that provide cost improvements
* Work with Engineering & Product Sourcing teams during the new business quoting phase to establish reference cost targets
* Support Procurement teams during negotiating events with target costing
* Utilize cost models and associated data to train HARMAN teams on Design-to
* Cost best practices based on developed cost models

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How To Become A Cost Engineer

Industrial engineers must have a bachelor’s degree. Employers also value experience, so cooperative education engineering programs at universities are also valuable.

Education

Industrial engineers need a bachelor’s degree, typically in industrial engineering. However, many industrial engineers have degrees in mechanical engineering, electrical engineering, manufacturing engineering, industrial engineering technology, or general engineering. Students interested in studying industrial engineering should take high school courses in mathematics, such as algebra, trigonometry, and calculus; computer science; and sciences such as chemistry and physics.

Bachelor’s degree programs include lectures in classrooms and practice in laboratories. Courses include statistics, production systems planning, and manufacturing systems design, among others. Many colleges and universities offer cooperative education programs in which students gain practical experience while completing their education.

A few colleges and universities offer 5-year degree programs in industrial engineering that lead to a bachelor’s and master’s degree upon completion, and several more offer similar programs in mechanical engineering. A graduate degree allows an engineer to work as a professor at a college or university or to engage in research and development. Some 5-year or even 6-year cooperative education plans combine classroom study with practical work, permitting students to gain experience and to finance part of their education.

Programs in industrial engineering are accredited by ABET.

Important Qualities

Creativity. Industrial engineers use creativity and ingenuity to design new production processes in many kinds of settings in order to reduce the use of material resources, time, or labor while accomplishing the same goal.

Critical-thinking skills. Industrial engineers create new systems to solve problems related to waste and inefficiency. Solving these problems requires logic and reasoning to identify strengths and weaknesses of alternative solutions, conclusions, or approaches to the problems.

Listening skills. These engineers often operate in teams, but they also must solicit feedback from customers, vendors, and production staff. They must listen to customers and clients in order to fully grasp ideas and problems the first time.

Math skills. Industrial engineers use the principles of calculus, trigonometry, and other advanced topics in mathematics for analysis, design, and troubleshooting in their work.

Problem-solving skills. In designing facilities for manufacturing and processes for providing services, these engineers deal with several issues at once, from workers’ safety to quality assurance.

Speaking skills. Industrial engineers sometimes have to explain their instructions to production staff or technicians before they can make written instructions available. Being able to explain concepts clearly and quickly is crucial to preventing costly mistakes and loss of time.

Writing skills. Industrial engineers must prepare documentation for other engineers or scientists, or for future reference. The documentation must be coherent and explain their thinking clearly so that the others can understand the information.

Licenses, Certifications, and Registrations

Licensure is not required for entry-level positions as an industrial engineer. A Professional Engineering (PE) license, which allows for higher levels of leadership and independence, can be acquired later in one’s career. Licensed engineers are called professional engineers (PEs). A PE can oversee the work of other engineers, sign off on projects, and provide services directly to the public. State licensure generally requires

A degree from an ABET-accredited engineering program
A passing score on the Fundamentals of Engineering (FE) exam
Relevant work experience, typically at least 4 years
A passing score on the Professional Engineering (PE) exam

The initial FE exam can be taken after one earns a bachelor’s degree. Engineers who pass this exam are commonly called engineers in training (EITs) or engineer interns (EIs). After meeting work experience requirements, EITs and EIs can take the second exam, called the Principles and Practice of Engineering.

Several states require engineers to take continuing education in order to keep their licenses. Most states recognize licenses from other states, as long as the other state’s licensing requirements meet or exceed their own licensing requirements.

Advancement

Beginning industrial engineers usually work under the supervision of experienced engineers. In large companies, new engineers also may receive formal training in classes or seminars. As beginning engineers gain knowledge and experience, they move on to more difficult projects with greater independence to develop designs, solve problems, and make decisions.

Eventually, industrial engineers may advance to become technical specialists, such as quality engineers or facility planners. In that role, they supervise a team of engineers and technicians. Obtaining a master’s degree facilitates such specialization and thus advancement.

Many industrial engineers move into management positions because the work they do is closely related to the work of managers. For more information, see the profile on architectural and engineering managers.

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Cost Engineer jobs

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Cost Engineer Career Paths

Cost Engineer

Senior Scheduler Project Controls Engineer Construction Manager

Capital Project Manager

10 Yearsyrs

Project Controls Engineer Project Manager

Construction Manager

10 Yearsyrs

Contracts Administrator Senior Manager Global Director

Director Global Operations

13 Yearsyrs

Planner/Scheduler Planner/Buyer Purchasing Manager

Director Of Purchasing

10 Yearsyrs

Planner/Scheduler Master Scheduler Purchasing Manager

Director, Procurement

13 Yearsyrs

Project Controls Specialist Project Manager Program Manager

Engineering Director

13 Yearsyrs

Project Controls Specialist Project Scheduler Project Manager

Engineering Manager

10 Yearsyrs

Construction Manager Senior Estimator

Estimator Project Manager

9 Yearsyrs

Construction Manager Maintenance Technician Facilities Maintenance Manager

Facilities Project Manager

9 Yearsyrs

Senior Project Manager Managing Director Director Of Quality

Manufacturing Director

14 Yearsyrs

Projects Controller Controls Manager Controller

Operations Manager

7 Yearsyrs

Controls Manager Operations Manager Operations Director

President Of Operations

11 Yearsyrs

Project Manager Consultant Senior Consultant

Program Manager

8 Yearsyrs

Senior Project Manager Director Of Construction General Contractor

Project Superintendent

10 Yearsyrs

Project Controls Engineer Controls Manager Operations Manager

Purchasing Manager

9 Yearsyrs

Projects Controller Senior Project Manager Senior Product Manager

Senior Manager

10 Yearsyrs

Project Scheduler Master Scheduler Operations Manager

Senior Operations Manager

9 Yearsyrs

Project Manager Program Manager

Senior Project Manager

12 Yearsyrs

Controls Manager Controller General Manager

Vice President & General Manager

12 Yearsyrs

Senior Estimator Senior Project Manager Vice President, Technology

Vice President Of Global Operations

15 Yearsyrs

Average Length of Employment

Top Careers Before Cost Engineer

Top Careers After Cost Engineer

Cost Engineer Demographics

Gender

Male
70.3%
Female
26.4%
Unknown
3.3%

Ethnicity

White
73.7%
Hispanic or Latino
11.8%
Asian
10.6%
Unknown
3.2%
Black or African American
0.7%

Languages Spoken

Spanish
46.2%
Mandarin
7.7%
Portuguese
6.2%
French
6.2%
Arabic
6.2%
Chinese
4.6%
German
4.6%
Korean
4.6%
Swedish
1.5%
Hawaiian
1.5%
Turkish
1.5%
Japanese
1.5%
Kannada
1.5%
Russian
1.5%
Cantonese
1.5%
Polish
1.5%
Thai
1.5%

Cost Engineer

Unfortunately we don’t have enough data for this section.

Cost Engineer Education

Schools

Texas A&M University
7.5%
Pennsylvania State University
6.7%
Purdue University
6.0%
University of Tennessee - Knoxville
5.2%
Auburn University
5.2%
Lamar University
5.2%
Rensselaer Polytechnic Institute
5.2%
University of Phoenix
5.2%
Clemson University
5.2%
Colorado State University
5.2%
University of Toledo
4.5%
Louisiana State University and A&M College
4.5%
Eastern Michigan University
4.5%
University of Houston
4.5%
Georgia Institute of Technology -
4.5%
Iowa State University
4.5%
Northeastern University
4.5%
Mississippi State University
4.5%
University of Alabama
3.7%
Michigan State University
3.7%

Majors

Business 25.4%
Civil Engineering 10.4%
Mechanical Engineering 10.1%
Construction Management 8.5%
Industrial Engineering 6.1%
Accounting 5.4%
Finance 5.1%
Project Management 4.0%
Engineering 3.6%
Management 2.8%
Electrical Engineering 2.7%
Engineering And Industrial Management 2.7%
Industrial Technology 2.5%
Drafting And Design 1.9%
Economics 1.9%
Operations Management 1.8%
Education 1.5%
Construction Engineering 1.3%
Computer Science 1.2%
Manufacturing Engineering 1.0%

Degrees

Bachelors
47.2%
Masters
27.9%
Other
14.5%
Associate
4.5%
Certificate
4.2%
Diploma
0.9%
Doctorate
0.8%
License
0.1%

Cost Engineer

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Real Cost Engineer Salaries

Job Title	Company	Location	Start Date	Salary
Cost Engineer	Cockram Construction Inc.	Cambridge, MI	Jan 02, 2016	$216,735
Managing Director of Cost Engineering	Swing Staging LLC	Islandia, NY	Aug 18, 2014	$200,000
Director of Cost Engineering	Swing Staging LLC	Islandia, NY	Apr 02, 2016	$200,000
Principal Cost Engineer	Rio Tinto Services Inc.	South Jordan, UT	Dec 05, 2014	$139,725 - $159,725
Cost Engineer (Quantity Surveying)	Turner & Townsend Inc.	Houston, TX	Jul 21, 2014	$130,000
Lead Cost Engineer	SK E&C USA, Inc.	Houston, TX	Mar 04, 2015	$126,000
Cost Out Engineering Leader	Electrolux Home Products, Inc.	Charlotte, NC	Oct 27, 2014	$122,262
Project Cost Engineer	Taurus Project Controls Consulting, Inc.	Andover, MA	Jul 25, 2016	$120,000
Cost Engineer (Aerospace)	Price Systems, LLC	Mount Laurel, NJ	Jul 11, 2016	$110,000
Cost Engineer	Moody International Americas, Inc.	Anchorage, AK	Sep 04, 2013	$108,900
Cost Engineer	Intertek Industry Services	Anchorage, AK	Aug 28, 2013	$108,900
Drilling and Completions Cost Engineer	Talisman Energy USA Inc.	The Woodlands, TX	Jan 15, 2015	$107,920 - $142,720
Cost Engineer	Cockram Construction Inc.	Oceanside, CA	Mar 21, 2016	$106,124
Cost Engineer	Kyyba Inc.	Farmington Hills, MI	Aug 03, 2016	$91,811
Project Cost Engineer	Currie & Brown, Inc.	South San Francisco, CA	Jan 12, 2016	$91,790 - $150,000
Cost Engineer	Citgo Petroleum	Lemont, IL	Jan 16, 2015	$91,270
Cost Engineer	Skanska USA Civil Northeast, Inc.	NY	Oct 01, 2014	$91,000
Cost and Schedule Engineer	Exxonmobil Research and Engineering Company	Fairfax, VA	Sep 01, 2013	$90,923 - $109,500
Cost Engineer	Citgo Petroleum Corporation	Lemont, IL	Sep 18, 2014	$90,800
Cost Out Engineering Leader	Electrolux Home Products, Inc.	Charlotte, NC	Sep 09, 2013	$90,000
Schedule/Cost Engineer	JCMS, Inc.	Mercerville, NJ	Sep 11, 2015	$89,648
Cost Out Engineer	Electrolux Home Products, Inc.	Anderson, SC	Oct 01, 2015	$76,680
Cost Engineer	Bechtel Oil, Gas & Chemicals, Inc.	Portland, TX	Aug 02, 2016	$75,540 - $78,000
Project Cost Engineer	Cintra Us Services LLC	Austin, TX	Nov 01, 2014	$75,000
Project Cost Engineer	Cintra Us Services LLC	Austin, TX	Aug 26, 2015	$75,000
Project Cost Engineer	Cintra Us Services LLC	Austin, TX	Feb 18, 2015	$75,000
Vehicle Cost Engineer	Altair Productdesign, Inc.	Auburn Hills, MI	Aug 20, 2016	$73,588
Cost Engineer	Technology Resource Group, LLC	Auburn Hills, MI	Dec 09, 2016	$72,800
Project & Cost Engineer	Turner Construction Company	Boston, MA	May 09, 2016	$71,386 - $82,342

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Top Skills for A Cost Engineer

Top Cost Engineer Skills

Contract Terms
Financial Analysis
Project Cost

You can check out examples of real life uses of top skills on resumes here:

Review subcontractor's contract terms and conditions, ensuring that they comply with project's prime contract.
Developed and maintained status reports including: labor productivity, financial analysis, Cost Performance Reports and earned value management reports.
Monitored estimated and actual project costs by conducting variance analysis in multiple excel spreadsheets.
Apply extensive knowledge of estimating processes to develop detailed cost estimates from engineering drawings.
Review supplier proposals and negotiate contracts with suppliers