Senior Cost Engineer

The Senior Principal Cost Engineer is recognized as a specialist in the field of Costing at McDermott. They can anticipate internal and/or external business challenges and/or regulatory issues and subsequently recommend process, product, or service improvements.

Job Overview

The Senior Principal Cost Engineer is responsible for solving unique and complex problems that negatively impact the project. They proactively identify and resolve issues affecting project performance. As a specialist in Cost Management, they possess broad knowledge of the Project Controls function and influence the direction and resource allocation of programs and projects within their discipline. This role requires conceptual and innovative thinking to develop creative solutions to costing challenges.

Key Tasks and Responsibilities

1. Interpret the project contract and assist the Project Director in its application.
2. Provide input to the Project Execution Plan.
3. Coordinate all financial, contractual, and administrative issues related to the project with Project Accounting.
4. Ensure proper setup of project tasks.
5. Support Project Accounting in the compilation and review of all invoices.
6. Monitor project costs and revenues; prepare necessary reports weekly, monthly, or quarterly.
7. Evaluate, negotiate, and agree on costs and revenues with clients and subcontractors for contract changes.
8. Ensure proper setup and maintenance of Project Controls systems.
9. Support the development of claims, including back charges against subcontractors and vendors.
10. Develop the monthly project EAC.
11. Assist in preparing financial and contractual correspondence related to Project Controls.
12. Maintain clear and accurate records of financial and contractual matters.
13. Monitor key project dates against contract milestones.
14. Prepare contract supplements.
15. Attend meetings concerning cost, progress, technical, and contractual matters.
16. Lead the Change Management process on the project.
17. Manage Project Risk and Opportunity Management (PROM).
18. Prepare the project close-out report.
19. Oversee cost and progress functions to ensure task completion.
20. Support regional and global Project Controls with ad hoc tasks.
21. Liaise with other personnel to improve scheduling, cost estimation, and contract strategies.
22. Support bid efforts as required.
23. Ensure adherence to McDermott systems and processes.

Essential Qualifications and Education

• Degree in Engineering, Construction, Business, or related field, or equivalent experience.
• At least 12+ years of experience in project control activities.
• Supervisory experience in a matrix environment.
• Progressive experience working for a contractor.
• Solid background in the oil and gas industry.
• Familiarity with Primavera P6.