Entry Senior

Cost Engineer

About This Career

Cost Engineers provide cost estimates and ensure there are cost controls in place for oil and gas facility construction, production and services. They also aid management in bidding or determining the price of a product or service and provide on-going analysis to ensure costs and schedules are on target.

Education: A post-secondary degree in engineering from an accredited institution and knowledge from within the electrical, mechanical or civil engineering field is required. Other credentials may be acceptable, such as a post-secondary degree in science, technology, mathematics or construction management. This role typically requires extensive experience and exposure to a variety of large capital projects.

Employment: This occupation is found in both onshore and offshore environments and is employed in the exploration and production (E&P), oil sands, oil and gas services and pipeline sectors of the oil and gas industry.

Example titles: Project Control Specialist, Cost Analyst, Cost Estimator, Construction Engineer, Project Engineer, Project Coordinator

Work Activities
Applying Information
Participating in the development of Project Execution Plans.
Implementing project cost control strategies, plans and procedures.
Communicating with Supervisors, Peers or Subordinates
Providing an interface to other functions and teams to improve processes, resolve conflicting priorities and ensure adherence to best project practices.
Coordinating the Work and Activities of Others
Coordinating the assessment of Value-of-Work done and commitments and forecasting the final cost.
Determine Compliance
Working with the financial and accounting functions to ensure processes implemented conform to government requirements.
Estimating the Quantifiable Characteristics of Products, Events or Information
Preparing estimates used by management for purposes such as planning, organizing and scheduling work.
Preparing estimates for use in selecting vendors or subcontractors.
Estimating the costs of deviations and assessing impact on total project cost
Consulting with clients, vendors and personnel in other departments to discuss and formulate estimates.
Evaluating Information
Assessing the cost effectiveness of products, projects or services and tracking actual costs relative to bids as the project develops.
Conducting special studies to develop and establish standard hour and related cost data or to effect cost reduction.
Judging the Qualities of Things, Services or People
Reviewing material and labour requirements to decide whether it is more cost-effective to produce or purchase components.
Monitoring and Controlling Resources
Reviewing and auditing contractor cost control procedures and practices.
Reviewing financial data related to accruals, invoice payments, purchase orders and material deliveries and other financial data.
Monitoring Processes, Materials or Surroundings
Monitoring costs.
Performing Administrative Activities
Preparing cost and expenditure statements and other necessary documentation at regular intervals for the duration of the project.
Processing Information
Collecting and compiling progress and cost data.
Preparing cost performance management data for reporting.
Quality Assurance
Performing quality assurance on the contractor’s cost management system.
Resolving Conflicts and Negotiating with Others
Consulting with clients, vendors and personnel in other departments to resolve issues.
Establishing and maintaining the tendering process, and conducting negotiations.
Solving Problems and Making Decisions
Resolving issues related to project cost control procedures.
Thinking Creatively
Setting up cost monitoring and reporting systems and procedures.
Developing cost control worksheets and reports for review by delivery teams.
Developing and/or coordinate project annual spend projections, cost reconciliations and variance analyses.
Competencies
Leadership
Negotiation
Judgment and Decision Making
Behavioural
Attention to Detail
Knowledge
Administration and Management
Technical
Management of Financial Resources
Foundational
Critical Thinking
Career Path
  • Cost Analyst
  • Cost Estimator
  • Project Coordinator
  • Project Engineer
  • Project Manager
  • Project Planner/Scheduler
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Working Conditions
  • Field 2
    Field Visits
  • Office
    Office Based
  • Steeringwheel
    Driving Required
  • Deadline
    Demanding Deadlines
Similar Jobs In Other Industries
Careers also exist in the following industries:
  • Chemical manufacturing
  • Construction of buildings (non-residential and residential)
  • Heavy and civil engineering construction
  • Paper manufacturing
  • Petroleum and coal product manufacturing
  • Primary metal manufacturing
  • Professional, scientific and technical services
  • Utilities including renewable energy
  • Wood product manufacturing
Job Details

Job Category

Engineers

Sectors

Pipelines

Oil and gas services

Oil sands

Exploration and production

NOC

2141

Qualifications + Experience

Education:

  • Post-secondary degree

Certifications:

  • Professional Quantity Surveyor (PQS)
  • Planning and Scheduling Professional (PSP)
  • Certified Estimating Professional (CEP)
  • Project Management Professional (PMP)
  • Specific health and safety certifications will be determined by job requirements
  • Certified Cost Consultant (CCC)

Licensing:

  • Unlicensed engineers must work under the supervision of a P. Eng.
  • Once licensed, engineers receive a seal to stamp their designs and drawings.
  • To obtain a licence as a professional engineer (P. Eng), you must obtain a degree from an accredited engineering program, pass a professional practice exam and have three or four years of engineering experience, of which one year must be gained in Canada. You must also have Canadian citizenship or proof of permanent residency in Canada.