Senior Manager – Cost Estimation

Overview

Job Purpose

Cost Estimation Strategy

• Develop and implement cost estimation frameworks for real estate projects, ensuring accuracy and alignment with organizational goals.
• Oversee the preparation of cost estimates during all project phases, from pre-concept to execution.
• Continuously improve cost estimation processes to ensure efficiency and accuracy across all projects.

Project Budgeting & Forecasting

• Collaborate with project management teams to develop detailed project budgets based on cost estimates.
• Provide cost forecasts and financial insights to support decision-making during project planning and execution.
• Ensure budget adherence by monitoring costs throughout the project lifecycle and adjusting estimates as needed.

Risk Assessment & Mitigation

• Identify potential cost risks, including market volatility, material costs, and unforeseen project changes.
• Develop strategies to mitigate cost risks, including contingency planning and value engineering.
• Regularly update risk assessments based on project progress and market conditions.

Vendor & Contractor Cost Management

• Work with procurement teams to evaluate vendor and contractor bids, ensuring alignment with cost estimates.
• Ensure that contractor pricing aligns with project budgets and expected quality standards.
• Monitor contractor performance to ensure cost control and adherence to budget agreements.

Stakeholder Reporting & Communication

• Prepare and present detailed cost reports, forecasts, and insights.
• Collaborate with internal and external stakeholders to ensure transparency and alignment.
• Lead cost estimation meetings, addressing queries and ensuring all parties understand financial expectations.

Data Analysis & Continuous Improvement

• Analyze historical data and market trends to refine cost estimation methodologies.
• Implement process improvements to enhance the accuracy, efficiency, and reliability of cost estimates.
• Benchmark costs against industry standards and update estimation models accordingly.

Qualification(S)

• A bachelor’s degree in quantity surveying, civil engineering, construction management, or a related field.
• A master’s degree such as an MBA is desired.
• Relevant professional certifications such as a PMP / MRICS are preferred.

Experience

• At least 10 -13 years of experience in
• cost estimation
• ,
• budgeting
• , or
• quantity surveying
• within the real estate or construction industry.

Cost Estimation Expertise

• Advanced proficiency in preparing detailed cost estimates for complex real estate projects.
• Ability to develop accurate, comprehensive cost plans for all project phases, from concept to delivery.

Analytical & Financial Acumen

• Strong ability to analyze project data, market trends, and pricing to refine cost estimates.
• Competence in financial forecasting, budgeting, and value engineering to optimize project cost structures.

Risk Management & Problem-Solving

• Skilled in identifying potential cost risks and implementing strategies to mitigate them.
• Strong problem-solving skills to address cost overruns and unforeseen financial challenges.

Vendor & Contractor Collaboration

• Ability to work closely with procurement teams and vendors to align contract pricing with project budgets. Skilled in evaluating contractor bids and negotiating cost-effective solutions.

Communication & Stakeholder Engagement

• Strong presentation and reporting skills, capable of providing cost insights to senior leadership.
• Proficient in engaging with cross-functional teams to align cost estimation with broader project goals.

Attention To Detail & Continuous Improvement

• High attention to detail in managing cost data, ensuring accuracy and precision in estimates.
• Ability to drive continuous improvement in cost estimation processes and methodologies.