Lead Cost Engineer – PMC

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Position Summary

The Lead Cost Engineer is the PMC's senior cost management professional responsible for delivering independent estimating, cost control, forecasting, earned value, contingency management, and cost assurance services for a multi-billion-dollar renewable energy and transmission project comprising Solar PV, BESS, HVAC substations, HVAC transmission infrastructure, and the Indonesia–Singapore subsea interconnector. Acting independently on behalf of the Owner through the PMC appointment, the role provides objective insight into project cost performance, contractor cost exposure, and forecast outcomes across multiple EPC/EPCI contractors, marine contractors, and Chinese suppliers, enabling informed decision-making and protecting the Owner's financial interests throughout project delivery.

Role Purpose

The Lead Cost Engineer is the PMC's senior cost management professional responsible for providing independent cost engineering, estimating, forecasting, cost control, performance analysis, and financial reporting services across the project lifecycle.

Acting on behalf of the Project Owner through the PMC appointment, the Lead Cost Engineer provides objective and independent assessment of project cost performance, ensuring project leadership maintains an accurate understanding of:

• Approved budgets
• Project commitments
• Actual expenditures
• Forecast costs
• Cost risks
• Contingency utilization
• Change impacts
• Contractor commercial exposure

The role does not perform cost control on behalf of EPC Contractors and does not represent contractor interests. Instead, the Lead Cost Engineer independently verifies, challenges, and analyses contractor cost information while protecting the Owner's commercial position.

The position is critical for managing cost performance across:

• Utility-scale Solar PV developments
• Battery Energy Storage Systems (BESS)
• HVAC substations
• HVAC transmission infrastructure
• HVAC subsea cable systems
• Marine installation campaigns
• Cross-border infrastructure works
• Multiple EPC/EPCI contracts
• International EPC contractors and suppliers

Key Responsibilities

1. Cost Management Leadership

• Lead all project cost engineering and cost control activities.
• Establish cost management procedures, reporting standards, governance, and assurance processes.
• Develop and maintain project cost breakdown structures and coding systems.
• Provide cost forecasting, analysis, and decision-support to project leadership.
• Drive consistency of cost management practices across all project workstreams.
• Promote proactive identification of cost risks and opportunities.

2. Cost Estimating & Estimate Assurance

• Develop and maintain independent project cost estimates.
• Review owner budgets, contractor estimates, and cost submissions.
• Support project sanction, business case, and stage-gate reviews.
• Evaluate estimate accuracy, uncertainty, and confidence levels.
• Benchmark costs against market data and comparable projects.

Coverage includes:

• Solar PV and Balance of Plant
• BESS facilities and associated systems
• Transmission and substation infrastructure
• Interconnector, cable, and marine installation works

3. Cost Control & Forecasting

• Establish and maintain integrated cost control systems covering:
  • Budgets
  • Commitments
  • Actual costs
  • Accruals
  • Forecasts
  • Contingencies
  • Management reserves
• Monitor expenditure, commitments, and cost performance.
• Forecast EAC (Estimate at Completion) and ETC (Estimate to Complete).
• Identify cost growth trends and potential budget overruns.
• Provide timely and accurate cost reporting.

4. Contractor Cost Performance Management

• Monitor cost performance of EPC and EPCI contractors.
• Review contractor cost reports, forecasting methodologies, and commercial trends.
• Assess payment applications, variations, claims, and escalation risks.
• Challenge unsupported assumptions and provide independent owner-side cost assurance.

5. International EPC Exposure & Supplier Cost Assurance

• Assess cost implications of contractor execution strategies, procurement plans, and supply-chain changes.
• Review pricing associated with variations, claims, acceleration measures, and scope interpretations.
• Monitor market impacts relating to:
  • Solar modules
  • Battery systems
  • Transformers and GIS equipment
  • Cable manufacturing
  • Logistics and transportation
  • Foreign exchange and inflation exposure
• Provide independent cost intelligence and market insight.

6. Change, Trend & Risk Management

• Evaluate change requests, variation pricing, and contractor quotations.
• Maintain the project Trend Register and quantify emerging cost impacts.
• Support cost risk assessments, contingency reviews, sensitivity analysis, and scenario modelling.
• Ensure risks, trends, and claims exposure are reflected in project forecasts.

7. Contingency Management

• Monitor contingency utilization and drawdown trends.
• Support contingency governance and approval processes.
• Recommend contingency allocation, release, and risk-based adjustments.

8. Cost Reporting & Management Information

Prepare and present:

• Monthly Cost Reports
• Cost Forecast Reports
• Executive Dashboards
• Variance and Trend Analyses
• Contingency Reports
• Cash Flow Forecasts
• Board and Steering Committee Reports

Reporting shall provide visibility of:

• Budget status
• Actual and forecast costs
• Variances
• Commitments
• Approved and pending changes
• Risk allowances and claims exposure

9. Cash Flow Management

• Develop and maintain project cash flow forecasts.
• Monitor expenditure profiles, funding requirements, and payment schedules.
• Align forecasts with project schedules and procurement plans.
• Track major equipment, manufacturing, marine installation, and EPC milestone payments.

10. Earned Value & Performance Management

• Implement Earned Value Management (EVM) methodologies where applicable.
• Monitor CPI, SPI, productivity, and performance trends.
• Identify variances and support corrective action planning.
• Integrate cost analysis with planning and risk management functions.

11. Project Integration & Procurement Oversight

• Coordinate cost management across Solar, BESS, Transmission, Cable, Marine, and Utility workstreams.
• Ensure consistent cost reporting and forecasting across all packages.
• Work closely with Supply Chain and Commercial teams to monitor:
  • Equipment pricing
  • Procurement trends
  • Logistics costs
  • FX exposure
  • Escalation risks
• Provide early visibility of supply-chain and market-driven cost impacts.

Key Accountabilities

The Lead Cost Engineer is accountable for:

• Accuracy and integrity of project cost information.
• Development and maintenance of project cost forecasts.
• Independent validation of contractor cost performance.
• Cost reporting quality and timeliness.
• Identification and escalation of cost risks.
• Effective contingency management.
• Reliable Estimate at Completion forecasting.
• Support of project investment and commercial decisions.
• Protection of Owner financial interests through independent cost assurance.

Minimum Requirements:

• Bachelor’s degree in Quantity Surveying, Engineering, Construction Management, Finance, Commerce, Economics, or a related discipline.
• 12–15+ years’ experience in cost engineering, project controls, or project cost management.
• At least 8 years in a senior Cost Engineer, Cost Manager, or Project Controls leadership role.
• Proven experience on major EPC/EPCI infrastructure, energy, or industrial projects.
• Strong expertise in cost estimating, cost control, forecasting, Earned Value Management (EVM), and project economics.
• Advanced proficiency in project controls systems, cost reporting, and forecasting tools.

Preferred Qualifications:

• Utility-scale Solar PV projects.
• Battery Energy Storage Systems (BESS).
• High-voltage substations and transmission infrastructure.
• HVAC transmission and grid connection projects.
• Marine, offshore, and subsea cable projects.
• Large-scale renewable energy developments.

Highly Desirable Qualifications:

• Experience on projects exceeding US$1 billion in CAPEX.
• Experience working with International EPC contractors and equipment suppliers.
• Experience delivering projects in Singapore and/or Indonesia.
• Experience on project-financed infrastructure and energy developments.
• Experience supporting lender, investor, and stakeholder reporting.
• Experience in quantitative cost risk analysis and contingency modelling.

Professional Certifications (Preferred)

• AACE Certified Cost Professional (CCP)
• AACE Certified Estimating Professional (CEP)
• Certified Cost Engineer (CCE)
• MRICS
• PMP
• MBA or MSc in Project Controls, Commercial Management, Finance, or related discipline

Core Competencies

Cost Engineering & Controls

• Cost estimating and estimate assurance
• Cost control and forecasting
• Earned Value Management (EVM)
• Cash flow forecasting and analysis
• Cost performance measurement

Project Controls & Reporting

• Project forecasting and trend analysis
• Cost and schedule integration
• Data analytics and performance reporting
• Executive and board-level reporting

Commercial & Contract Management

• Variation and change assessment
• Claims awareness and commercial risk evaluation
• Contract administration principles
• Procurement and supply-chain cost analysis

Risk & Decision Support

• Cost risk modelling and quantitative risk analysis
• Contingency management
• Scenario and sensitivity analysis
• Strategic decision support

Contractor & Stakeholder Management

• Independent cost assurance
• EPC/EPCI contractor performance evaluation
• Cost validation and payment assessment support
• Chinese EPC contractor and supplier oversight
• Cross-functional stakeholder engagement and influence

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