Cost Management Engineer

2 weeks ago

Memphis, Tennessee, United States LanceSoft Full time
Job Title: Cost Management Engineer

Job Location: Remote
Duration: 3+ Months on W2
Job Overview
COST MANAGEMENT ENGINEER

POSITION SUMMARY:

The Cost Management Engineer is responsible for establishing, executing, and sustaining cost management processes on significant projects. This role requires a professional with extensive experience and technical knowledge, capable of independently handling complex tasks while adhering to company protocols.

KEY RESPONSIBILITIES:

• Generate reports related to financial oversight, budget management, data administration, change order tracking, and financial documentation utilizing proprietary project management systems.

• Collaborate with project leadership and procurement teams to oversee subcontractor and vendor commitments, manage purchase orders, and facilitate invoice processing and forecasting. Responsible for the timely submission of subcontractor and Other Direct Costs (ODC) accruals to support financial reporting and revenue acknowledgment.

• Develop and maintain Disadvantaged Business Enterprise (DBE) reporting on client platforms based on project metrics.

• Ensure the job work breakdown structure is maintained and communicated effectively to the project team for accurate time tracking.

• Tailor project management systems to fulfill specific project needs.

• Collect historical performance data to establish a realistic foundation for future planning and forecasting.

• Prepare monthly client invoices, ensuring all authorized work orders are accounted for. This includes reviewing and updating progress in line with the approved project schedule. Coordinate with billing departments to ensure accurate accounts receivable entries and reconciliation of client invoices.

• Proficient in financial systems, including PARBase, PWorks, PRISM, SQL Database, Excel, Power BI, and Procurement Systems.

• Provide support and materials for monthly client progress meetings.

• Maintain project control procedures in alignment with business processes and identify opportunities for improvement through analysis and lessons learned.

• Develop and sustain a project staffing plan for resource allocation, labor forecasting, and cash flow management.

• Collaborate with project management and finance teams to ensure comprehensive corporate financial reporting, including updates to forecasting tools and reporting metrics.

• Assist in the creation of weekly and monthly client reports.

• Review contractor pay applications and schedule updates on a monthly basis.

• Oversee the evaluation of contractor baseline schedules.

• Manage document control processes using Procore.

• Undertake additional responsibilities as required by the position.

PREFERRED EDUCATION/EXPERIENCE:

A four-year degree in Engineering, Construction Management, or Business (or equivalent experience) along with 5-10 years of relevant work experience.

SKILLS/COMPETENCIES:

Requires foundational engineering knowledge in fields such as electrical, mechanical, civil, or related disciplines. Proficient in various Project Management software and Microsoft Office Suite. Experience with Oracle Primavera P6 and Procore is advantageous.

At LanceSoft, we pride ourselves on being a certified Minority Business Enterprise (MBE) since 2000, delivering scalable workforce solutions across diverse industries. We focus on fostering an environment driven by intellect, innovation, integrity, and growth.

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