Cost Engineer

Wood is currently looking for an experienced Cost Engineer to join us in our Sunbury office on a full time, contract basis.

Our Clients and Projects 

Designing the future. Transforming the world.

Wood delivers solutions across more than 60 countries with local offices covering all major energy and materials hubs globally. 

For more than 160 years, we have partnered with clients to deliver engineering, advisory and operational solutions to some of the world’s most complex and critical challenges in energy and materials.

#LI-Hybrid

What we can offer

• Meaningful and interesting projects delivered to leaders of industry across emerging energy sectors


• Commitment to Diversity and Inclusion; we are an organisation actively committed to diversity and inclusion across our business


• Competitive salary with regular salary reviews to ensure we are rewarding at the right level in line with the market


• Flexible benefits package; inclusive of 33 days annual leave (including public holidays), generous contributory pension scheme, private medical cover, 4x base salary life insurance; all of these and more that can be adapted to suit your own lifestyle


• Commitment to continued professional development; development plans that are tailored to your individual needs and interests


• Global connections: join experts around the world who are at the leading edge of our industry, shaping the standards of our profession

The role

As a Cost Engineer, you will prepare and report on project cost budgets, and the tracking, management and reporting of project expenditure to enable robust control of projects throughout their life cycle. You will support senior members of the cost team through the preparation and reporting of project cost budgets, ensuring budgets and reports are prepared to the required level of detail and accuracy in accordance with contractual requirements and Wood policies, procedures and standards. This will typically involve the review, analysis and reporting of actual and forecasted project costs against the project approved budget.

• Develop, issue and maintain Project Work Breakdown Structure (WBS) and Cost Breakdown Structure (CBS) for specific scopes


• Liaise with other Project Controls disciplines and functions, assist and support in the development of project budgets in accordance with the Basis of Estimate including statements of work scope, assumptions, man-hour estimates, narratives and review & comment of client documents


• Liaise with procurement, finance and time-capture functions, and third parties as required, to ensure accurate and timely capture of procurement, materials, subcontract and labour manhour costs


• Ensure costs are allocated accurately in accordance with approved project WBS


• Liaise with engineering, procurement and construction functions, and others as required, to maintain awareness of project activities and their impact on the project budget, schedule and cost forecast


• Facilitate and manage the project work approval process in terms of accurate cost code allocation and initial budget set-up and approvals


• Develop and maintain project cost budgets using appropriate software applications


• Monitor and control cost commitments and expenditures through all phases of project lifecycle


• Liaise with planning as required to ensure accuracy in project cost phasing and forecasting


• Prepare and provide project cost performance reports in accordance with project reporting requirements 


• Prepare and issue updates to project cost forecasts


• Monitor and report on cost impact of project manpower forecasts


• Develop and issue project change orders / variations in accordance with engineering and construction change notifications


• Facilitate and communicate cost and schedule impact of change notifications


• Monitor overall project cost performance and contingency drawdown


• Attend project meetings as required


• Coordinate the project cost close-out process

What makes you remarkable?

At Wood, we are committed to equal opportunities and welcome all talented individuals to consider joining our team. So even if you don't match every statement below but feel you have some of the experience, knowledge or skills needed for this role, we encourage you to apply. It will take all of us working together to deliver solutions to the world’s most critical challenges. 

• Typically requires ISCED level 6 (Bachelors) Degree in a relevant technical or business discipline (or equivalent gained through relevant vocational training and/or industry experience) 


• Incumbents will typically have relevant cost experience


• Proficient knowledge of cost software and related principles, tools and techniques including budgeting, forecasting and cash-flow


• Proficient knowledge of Project Execution Procedures for Cost Management including Change Management


• Proficient understanding of WBS & CBS structures and project reporting capabilities


• Proficient ability to develop project cost budgets and change estimates


• Proficient ability to prepare cost reports


• Understanding of change management and associated cost and schedule processes


• Understanding of earned value application, cost and schedule variance analyses/trending and what-if scenarios


• Understanding of project management principles and techniques


• Understanding of Cost Management, Change Control, Planning & Risk Analysis & Management