Cost Estimation

Job Accountabilities:

• Lead the collection of cost data and preparation of project cost estimates and

breakdowns, ensuring accuracy and alignment with project scope to support effective budgeting and decision-making.

• Develop economic models for evaluating cost estimates to provide a detailed analysis

of financial impacts and optimize budget allocation, ensuring cost-effectiveness and

alignment with overall project objectives.

• Monitor market prices for labor, equipment, materials, and other cost factors to

ensure up-to-date and accurate cost estimates, facilitating informed budgeting and

cost control.

• Evaluate the cost implications of required project software and IT applications to

support effective budgeting and align technology expenses with project objectives.

• Contribute to tendering and bidding processes by ensuring cost estimates align with

tender requirements to deliver accurate bids that enhance contract success and

profitability.

• Lead the analysis of recent bids to update pricing data and maintain a comprehensive

database, contributing to precise cost estimates and competitive bids that enhance

contract success and profitability.

• Ensure that all cost estimates comply with local regulations, standards, and industry

practices, facilitating legally sound and credible estimates that support successful

project execution.

• Coordinate with the Feasibility Study and Scoping teams to ensure that cost estimations are aligned with the project scope and feasibility assessments.

• Monitor and evaluate lessons learned from cost estimation processes to enhance

future methodologies and improve accuracy, ensuring continuous improvement and

more reliable budgeting for future projects.

• Collaborate with project managers, engineers, and procurement teams to gather

information and ensure cost estimates align with project goals and limitations,

enhancing estimates to achieve accurate outcomes and support project success.