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Senior Cost Engineer

NextWave PartnersManchester, UK

21 days ago

Job type

Full-time

Job description

Senior Cost Engineer

Department : Project Controls / Commercial

Reports To : Project Controls Lead / Senior Project Manager

Job Summary

The Cost Engineer will be responsible for developing and managing comprehensive cost estimates for offshore wind turbine projects and creating “should cost” models to support tendering strategies.

This position requires a strong understanding of industry benchmarks, current market pricing, and the ability to work collaboratively with multidisciplinary teams. The successful candidate will demonstrate an analytical approach, a willingness to learn from diverse stakeholders, and an openness to refining global cost structures for the local market.

Key Responsibilities

Cost Estimation & Analysis

Develop detailed cost estimates for all phases of offshore wind projects, covering engineering, procurement, manufacturing, logistics, installation, and commissioning.
Perform quantity take-offs, review technical specifications, and consolidate information from various departments to ensure accurate, up-to-date estimates.
Use industry benchmarks and historical data to validate assumptions, adjusting for local UK / EU market conditions and labor rates.

Should Cost” Modeling & Tender Support

Create “should cost” models to forecast what developers’ project costs may be, serving as a strategic tool for the company’s tendering process.

Analyze competitor and market pricing trends to provide recommendations on competitive pricing strategies.

Collaborate with senior management, commercial teams, and project managers to incorporate “should cost” insights into bid proposals.

Budget Preparation & Forecasting

Coordinate with Project Managers and Finance teams to establish and maintain project budgets, defining cost baselines and cash flow projections.

Regularly update forecasts based on project progress, market fluctuations, and scope changes.

Generate cost reports highlighting variances against budget and recommend corrective measures where necessary.

Risk & Contingency Management

Identify and quantify potential cost risks, collaborating with Project Managers, HSE, and Quality teams to integrate contingencies into cost planning.

Conduct scenario analyses considering currency exchange rates, raw material costs, and supply chain disruptions.

Develop strategies for mitigating identified cost risks, ensuring robust financial planning throughout project execution.

Vendor & Supplier Engagement

Partner with Procurement teams to secure accurate supplier quotes, accounting for logistics, customs, and local tax implications.

Evaluate cost proposals from contractors and suppliers, ensuring alignment with project requirements and commercial targets.

Support negotiations by providing data-driven insights on cost drivers and competitive pricing.

Process Improvement & Innovation

Recommend and implement improvements to cost estimation methodologies, including the adoption of digital tools and emerging technologies.

Conduct post-project analyses to identify lessons learned, integrating feedback into future estimating approaches.

Stay informed about market trends in offshore wind and renewable energy to ensure the company’s cost models remain competitive.

Reporting & Documentation

Prepare comprehensive cost estimate summaries, presentations, and detailed breakdowns for senior management and other stakeholders.

Ensure all cost-related documentation adheres to the company’s document control standards for consistency and auditability.

Support the establishment of standardized cost structures and coding systems (e.g., WBS) to facilitate clear cost tracking.

Qualifications and Experience :

Education :

Bachelor’s degree (or equivalent) in Engineering, Quantity Surveying, Finance, or a related field.

Experience :

5+ years of experience in cost estimation or quantity surveying within large-scale infrastructure or renewable energy projects (offshore wind preferred).

2+ years of experience with Offshore Wind

Proficiency with cost estimation software (e.g., CostX, Cleopatra, or similar) and advanced Excel skills.

Technical Skills :

Strong understanding of cost drivers in offshore wind or related energy sectors, including manufacturing, logistics, and installation.

Familiarity with industry benchmarks, market pricing, and best practices for producing accurate “should cost” models.

Ability to interpret engineering documents (drawings, specifications) and translate them into clear cost estimates.

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