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 tasked with solving unique and complex problems that negatively impact the project. They proactively identify and resolve issues affecting project performance. This role requires a broad knowledge of the Project Controls function, impacting program and project direction and resource allocation. The Senior Principal Cost Controls Specialist employs 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 regular project reports.
7. Evaluate, negotiate, and agree on costs and revenues with clients and subcontractors for contract changes.
8. Ensure proper setup and maintenance of all Project Controls systems.
9. Support the development of claims, including back charges against subcontractors and vendors.
10. Develop the monthly project Estimate at Completion (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 contractual milestones.
14. Prepare contract supplements (larger projects may assign this to the Contracts Manager).
15. Attend meetings on cost, progress, technical, and contractual issues.
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 during project completion.
20. Support regional and global Project Controls with ad hoc tasks.
21. Collaborate with other Project Controls personnel to improve schedule and cost estimate accuracy.
22. Support bid efforts as needed.
23. Ensure compliance with McDermott systems and processes.

Essential Qualifications and Education:

• Degree in Engineering, Construction, Business, or related field, or equivalent experience.
• Minimum of 12+ years in project control activities.
• Supervisory experience in a matrix environment within a contracting company.
• Strong background in the oil and gas industry.
• Familiarity with Primavera P6.

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