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Job Description
Job Overview:
The Principal Estimator interprets internal or external business issues and recommends best practices. They will be tasked with solving complex estimating-related problems and will work independently with minimal guidance. The Principal Estimator may be responsible for leading functional teams or projects and is regarded as a specialist in estimating. As such, they must have in-depth expertise in Estimating and broad knowledge of the Estimating discipline within the Project Controls function.
Responsibilities
Key Tasks and Responsibilities:
Provide guidance and leadership to the Functional Estimators, and Bench Markers
Ensure that the estimates produced are of the highest quality and technically compliant
Support and assist the Estimating Manager
Work with the Proposal team to prepare estimates and bids for clients
Attend all tender-related meetings
Understand the Proposal requirements and direct attention to those areas that appear inconsistent or contain a high-risk element FF
Read the technical documents to prepare a proper estimate
Gather information and input from functions with support from the project manager
Consult with Subject Matter Expert (SME) to discuss estimates and resolve issues
Create an estimate with available benchmarks and from experience before receiving the inputs from functions and evaluate the estimates received from functions against the internal estimate
Give regular updates to the department manager /immediate supervisor and highlight any concerns about anything that might potentially jeopardize submitting a competitive proposal
Analyze the cost components that are critical/crucial and seek quotes for those items
Attend and participate in Bid review meetings, estimate evaluation meetings, Risk assessment meetings, etc., as required
Analyze and comment on the execution plans of the project
Prepare a comprehensive Basis of Estimate (BOE) to be discussed and reviewed with managers
Predict the cost, size, and duration of future Projects is vital to the survival of businesses
Analyze many inputs to determine how much time, money, and labor a project needs and how profitable it will be, consider several factors, including allowances for wasted material, bad weather, shipping delays, and other factors that can increase costs and lower profitability
Utilize support from the benchmarking team by analyzing information on the costs from other similar projects and preparing the relevant benchmark report
Assure that the estimate is:
Completed promptly
Cognizant of the Bid ‘Win Strategy’
Accurate, free of errors, omission, or hidden contingency
In line with the agreed execution plan
Evaluate and recommend ways to be more cost-effective or profitable
Qualifications
Essential Qualifications and Education:
Bachelor’s degree in Engineering is a plus
7+ years of experience in a large Engineering, Procurement, and Construction (EPC) company (preferably in estimating, project controls, and data analytics)
Cost estimation experience, preferably in the Oil & Gas industry at a Senior or Supervisory level
Willingness to work overtime as necessary to meet deadlines
Intermediate/Advanced level in Microsoft Office systems, e.g., Excel, Word, PowerPoint
Accurately evaluate detailed specifications that are crucial to a cost estimator’s success
Must pay attention to minute details because such details may impact a product’s overall cost
Must plan their work and work efficiently and accurately
Must be able to write detailed reports to determine the management decision on the Project Controls approach
Knowledge of Estimating Software
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