Cost Engineer

Job Description

Job Description

Cost Engineer

Foster CM Group, Inc.
Location: Austin, TX (Regional Project Office / Field Settings)
Position Type: Full-time

About Foster CM Group

Founded in 1992, Foster CM Group, Inc. has over 30 years of history delivering premier program management, construction management, and project controls engineering services. We act strictly as the owner’s representative and capital advocate across highly regulated public and private market sectors, including Aviation, Education (K–12 Bond Delivery), Transportation, Government Civil Infrastructures, Healthcare, and Water/Wastewater programs.

Position Summary

The Cost Engineer coordinates directly with Project Leads, Schedulers, and Contractor Project Managers to safeguard project-level financial baselines. Operating on high-value portfolios, this professional establishes cost governance controls, reviews and mitigates change-order impacts, manages Work Breakdown Structures (WBS), and delivers predictive cost analytics to protect public and private capital outlays.

Key Responsibilities & Essential Functions

1. Cost Modeling, Budgeting, & Baseline Management

• Structure Integration: Develop and implement project-level Work Breakdown Structures (WBS) and Cost Breakdown Structures (CBS) to align design elements with construction budget mandates.
• Expenditure Architecture: Maintain comprehensive cost-tracking systems to log active commitments, actual field expenditures, incurred labor burn rates, and financial accruals.
• Predictive Forecasting: Run routine multi-year cash flow forecast models and analyze budget trends to flag potential programmatic overruns or resource misallocations.

2. Change-Order Governance & Contract Auditing

• Independent Cost Estimates (ICE): Perform bottom-up cost modeling, structural takeoffs, and validation models for contract adjustments and variation claims.
• Entitlement Auditing: Evaluate general contractor change-order submittals against contractual agreements, blueprint specifications, and baseline logs to mitigate cost inflation.
• Bid Leveling Support: Audit and grade contractor commercial proposals, contract pricing variables, and Guaranteed Maximum Price (GMP) layers prior to contract award.

Progress Verification & Stakeholder Controls

• Invoice Diagnostics: Audit, verify, and process general contractor payment applications, invoice submittals, and continuation sheets for compliance.
• Schedule Synchronization: Partner with Scheduler Leads to analyze how time extensions, critical path constraints, or project delays impact cost models.
• Executive Transparency: Translate complex project controls variables into executive-ready variance dashboards, cost metrics logbooks, and senior leadership reporting.

Performance Profile & Qualifications

Minimum Required Parameters:

• Education: Bachelor of Science (B.S.) or technical degree in Civil Engineering, Construction Management, Financial Engineering, or a highly related discipline.
• Experience Tier: 3 to 6+ years of progressive construction controls, structural estimation, or dedicated project accounting exposure.
• Software Competency: Elite proficiency in enterprise-grade data management, cost tools, and analytics dashboards (e.g., advanced MS Excel formulas, Power BI metrics tracking, SAP modules, Primavera 6 or cost-loaded critical path scheduling platforms).
• Sector Familiarity: Background navigating public sector procurement rules, municipal agency guidelines, or public-voted bond frameworks is highly preferred.

Other Operational Requirements:

• Schedule Flexibility: May be required to work protracted, irregular hours to meet specific project closeouts or client board schedules.
• Compliance Auditing: Employment offers are strictly contingent upon passing mandatory secure background checks, including SSN validation, criminal history screening, and credential verification.

The Cost Engineer will support project financial performance by developing accurate estimates and budgets, tracking costs, integrating cost data with project schedules, and assessing financial risks. Reporting to the Project Manager, this role will use Primavera P6, Microsoft Project, SAP, and Oracle Primavera Unifier, with occasional site visits.

Responsibilities

• Prepare project cost estimates.
• Develop and maintain project budgets.
• Track project costs and performance.
• Prepare cost reports for project stakeholders.
• Integrate cost data with project schedules.
• Assess cost and schedule risks.

Preferred Qualifications

• 5+ years of experience in cost engineering.

Foster CM Group Benefits (benefit package which includes both employer and employee paid plans) :

• Medical Insurance to include HSA and FSA benefits
• Dental Insurance
• Vision Insurance
• Prescription Drug
• Telehealth Benefits
• Life Insurance
• STD paid by the Company
• LTD paid by the Company
• Employee Assistance Program (EAP)
• 401 (K) with Company Match
• Vacation
• Holidays
• Paid Time Off (PTO)
• Financial Wellness
• Pet Insurance

Work Environment:

• The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. While performing the duties of this job, the employee is regularly exposed to moving machinery & mechanical parts, uneven ground, exposure to dust, gas or fumes, exposure to loud noise, and outside weather conditions.

Physical Requirements:

• The physical requirements must be met by an employee to successfully perform the essential functions of this job. Intermittent unassisted sitting, walking, standing, bending, squatting, climbing, kneeling, twisting, stooping, crawling, pushing and lifting is required. Must be able to walk and/or stand for prolonged periods of time for at least eight hours per day. The employee must frequently lift and/or move light equipment up to 50 pounds without assistance. Must be alert to equipment in the field, occasional need to work near hazardous equipment and machinery, ability to walk on uneven ground while physically maneuvering construction sites, ability to work in extreme temperatures or humidity, and potentially work at heights.

Foster CM Group, Inc. is an Equal Opportunity Employer. This means that Foster CM Group does not discriminate on the basis of race, religion, sex (gender), age, disability, national origin, genetic information, or sexual orientation. All individuals are encouraged to apply and compete for jobs.