Cost Engineer

Evonik•Lafayette, IN

5d•Hybrid

About The Position

The Cost Engineer acts as the owner-representative Project Controller for capital projects, responsible for the financial control and integration of project cost information across engineering, procurement, construction, and commissioning. This individual understands estimates and schedules, but is not the estimator nor the scheduler. Instead, this role is focused on budget stewardship, change management, cost integration, KPI reporting, contingency management, and cash-flow control, ensuring leadership has a clear, accurate, and forward-looking view of project financial performance.

Requirements

Bachelor's degree in Engineering, Construction Management, Finance, Business, or a related discipline; equivalent experience considered.
8-10+ years of experience in project controls, project controlling, or cost management supporting large capital projects required.
Strong knowledge of project cost estimating principles, budgeting, forecasting, cash flow management, and project scheduling fundamentals.
Demonstrated experience managing project budgets, Estimate at Completion (EAC), cost forecasting, and financial performance throughout the project lifecycle.
Proven expertise with change management processes, contingency planning, management reserve practices, and cost control systems.
Experience working in owner-representative, EPC, or EPCM project environments with cross-functional project teams and external contractors.
Excellent analytical, problem-solving, communication, and stakeholder management skills with the ability to present financial information to project leadership.
Proficiency using project controls, financial reporting, and ERP/project management systems, with advanced Microsoft Excel skills preferred.

Responsibilities

Develop, maintain, and manage the project cost baseline, cost breakdown structure (CBS), budgets, forecasts, Estimate at Completion (EAC), and cash flow forecasts throughout the project lifecycle.
Monitor project costs by tracking commitments, actual costs, forecasts, and financial performance while performing variance analysis and identifying cost drivers, trends, risks, and opportunities.
Lead the project cost change management process, including identifying, evaluating, documenting, and integrating approved scope, schedule, and commercial changes into project budgets and forecasts.
Establish, monitor, and report on contingency and management reserve usage, ensuring alignment with project risks and providing recommendations on contingency adequacy.
Consolidate and analyze cost information from Engineering, Procurement, Contracts, Construction, Site Operations, and external contractors to ensure accurate and consistent project financial reporting.
Develop and deliver monthly cost reports, dashboards, KPIs, and executive presentations that communicate project financial health, forecast accuracy, change exposure, and risk outlook.
Coordinate with Finance and Procurement to support accruals, payment timing, funding requirements, cash flow planning, and audit-ready project documentation.
Partner closely with Project Leadership, Engineering, Procurement, Construction, Finance, and EPC/EPCM contractors to resolve cost discrepancies, improve forecast accuracy, and support project decision-making.