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Cost Estimation Specialist
2 months ago
Position Overview:
A Cost Estimation Specialist is tasked with evaluating the financial aspects of construction endeavors. This position requires a thorough analysis of project specifications, collaboration with diverse stakeholders, and the formulation of comprehensive cost estimates. The Cost Estimation Specialist is integral to the bidding process, ensuring competitive pricing and contributing to the successful execution of construction projects.
Key Responsibilities:
- Generate detailed cost estimates for materials, labor, equipment, and subcontracting based on project specifications, bids, and drawings.
- Provide guidance on bidding procedures, assess and analyze bids, recommend award decisions, and facilitate negotiations.
- Establish and uphold effective bidding processes.
- Implement cost monitoring and reporting systems throughout the project lifecycle.
- Compile and present cost and expenditure reports at regular intervals during project execution.
- Maintain an updated directory of suppliers, contractors, and subcontractors.
- Engage with engineers, architects, owners, and contractors to conduct economic feasibility studies regarding cost adjustments.
- Oversee and coordinate construction projects, developing progress schedules.
- Review architectural plans and drawings, preparing quantity take-offs for assigned projects.
- Conduct thorough reviews of plans and drawings to identify omissions and ensure comprehensive estimates.
- Solicit and evaluate subcontractor bids, ensuring compliance with project specifications and quality standards.
- Stay informed on current trends and changes in construction codes to guarantee complete bids.
- Utilize relevant software tools to enhance job performance.
- Compile estimates that include general conditions, special conditions, insurance, and bonds.
- Develop a solid understanding of material unit costs and overall project costs.
- Assist in the preparation of proposals and bid packages.
- Participate in presentations as required.
- Build and maintain client relationships.
- Collaborate effectively as part of a team.
Qualifications:
- Bachelor's degree in construction management, civil engineering, or a related discipline.
- Prior experience in cost estimation within the construction sector is advantageous.
- Strong analytical and mathematical capabilities.
- Proficiency in construction estimating software and tools.
- In-depth knowledge of construction materials, methodologies, and industry developments.
- Exceptional communication and interpersonal skills.
- Detail-oriented with a commitment to accuracy.
- Able to work both independently and collaboratively within a team.
- Familiarity with relevant building codes and regulations.
- Strong skills in estimating, communication, financial analysis, budgeting, purchasing, negotiation, and computer literacy; familiarity with BIM is a plus.