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Cost Engineer III

The Tsui Group is seeking a qualified and experienced Cost Engineer III to join our aviation team in Los Angeles County.

Position Description Summary:

 The successful candidate will have proven cost engineering experience with complex, multi-phase,multi-million-dollar construction and/or renovation projects. The general job duties include:Prepares detailed computer generated cost reports, charts and diagrams; Provides analysis andreview of cost/budget expenditure and maintains cost control reports; Promptly reports anticipatedcost overages or other unsatisfactory cost elements; Maintains liaison with Data Processing indeveloping support for network calculations, printouts and cost reports, and other cost relatedservices.

 Essential Job Duties: 

The Cost Engineer duties include, but are not limited to, the following: 

  • Monitor project budgets for the multi-billion-dollar Capital Improvement Program at LosAngeles World Airports. 
  • Review and analyze sub-contractor invoices, ensuring expenditures are accurately incurredagainst appropriate Schedule of Values accounts
  • Prepares job costing reports to allocate these expenditures against the appropriate WBSnumbers. Ensure that both commitments and expenditures follow the same allocationmethodology.
  • Perform cost-to-complete analysis for all cost elements within a project taking into consideration staffing plans, contract commitments, and expenditures to date, change orders and trends. 
  • Attend project meetings to provide Project Management with current financial information and trend log regarding potential impacts to project budget or forecast.
  • Provide progress reporting documents and briefing materials as required. Develop creativereporting tools to communicate complex project sequencing and/or progress assessments.
  • Review task orders for contractors, sub-consultants, and City of Los Angeles Interdepartmental Orders to ensure necessary budget and/or contract capacity exists, and ensure these actual commitments are accurately entered/tracked into LAWA’s system of record
  • Analyze bid award values against current budget and prepare reconciliations to include in the current forecast at completion.
  • Analyze change order values against current contingency budget and prepare reconciliations to include in the current forecast at completion.
  • Analyze task order values against current allowance budget and prepare reconciliations to include in the current forecast at completion.
  • Prolog - Update contract commitments, reconcile and analyze actual expenditures, perform budget transfers, monitor trend status and maintain continuity of WBS structure
  • Coordinate with LAWA Governance Body to ensure changes to budgets are approved via theReconciliate Process or Capital Improvement Program Change process
  • Perform Project closeout resourcefully to ensure Prolog Data is complete for LAWA’s reportingneeds
  • Prepare data to support documentation required journal vouchers for budget transfers
  • May assume other duties as required/needed
  • Maybe required to work various shifts as needed

Professional Experience Level/Other Qualifications: 

  • Minimum of 10 years of cost engineering experience directly related to construction projects, preferably aviation projects
  • Experience managing a team of cost engineers
  • Demonstrated experience managing and reporting the cost components of large-scale, complex projects; including developing and managing a progress reporting methodology for a complicated design effort.
  • Experience with Design-Build and Construction Management at Risk delivery methods is desirable. 
  • Demonstrated ability to understand technical and complicated construction program and the ability to communicate progress to both technical- and management-level personnel. 
  • Ability to work with others, a self-starter with results-driven focus.
  • Proven accuracy, reliability and completeness in job accomplishment

Education/Training:

  • Bachelor’s degree in Engineering, Construction Management, or related field.
  • Required cost engineer certification i.e. CCE, CCP. 
  • Certifications may include PMP, PE, and/or any other relevant Professional Licensure or Certification.

Hardware/Software Knowledge: 

  • Demonstrated proficiency with a large-scale cost reporting system is required; experience withProlog is highly desirable.
  • Proficient in MicrosoftOffice Suite and Bluebeam
  • Salary Range: $144,000-$149,000
  • Medical, Vision, & Dental – 100% covered for the employee*
  • Life and Disability Insurance
  • 10.5 days of Vacation pay (Accrued)
  • 6 days of Sick pay (Available Immediately)
  • 10 days of Holiday pay (9 Holidays, 1 Personal Day)
  • 3% Employer Contribution 401k (After 1 year of service)
  • Monthly Stipend for Cell Phone
  • Laptop for work purposes

Average salary estimate

$146500 / YEARLY (est.)
min
max
$144000K
$149000K

If an employer mentions a salary or salary range on their job, we display it as an "Employer Estimate". If a job has no salary data, Rise displays an estimate if available.

What You Should Know About Cost Engineer III, The Tsui Group

The Tsui Group is on the lookout for a seasoned Cost Engineer III to dive into the exciting world of aviation projects in Los Angeles County. In this role, you’ll take charge of complex, multi-phase, and multi-million-dollar construction and renovation projects. As a pivotal member of our team, you'll prepare comprehensive cost reports, analyze budget expenditures, and maintain pivotal cost control reports. Your keen eye will pick up any anticipated cost overages or discrepancies before they become issues. Collaborating with our Data Processing team, you'll develop support tools that enhance our reporting capabilities. Your essential duties include monitoring budgets for the expansive Capital Improvement Program at Los Angeles World Airports, reviewing subcontractor invoices for accuracy, and providing insightful job costing reports. You’ll also conduct cost-to-complete analyses and attend project meetings to deliver current financial information to Project Management. Creative reporting tools will be your canvas to communicate project progress effectively. With a strong background in cost engineering—especially in aviation construction—you'll ensure that budgets are managed meticulously and that contract commitments are aligned with expenditures. Join us at The Tsui Group, where you'll have the opportunity to work on iconic projects while enjoying a suite of benefits and a supportive work environment.

Frequently Asked Questions (FAQs) for Cost Engineer III Role at The Tsui Group
What are the primary responsibilities of a Cost Engineer III at The Tsui Group?

As a Cost Engineer III at The Tsui Group, your key responsibilities encompass monitoring project budgets for the Capital Improvement Program at Los Angeles World Airports, preparing detailed costing reports, analyzing subcontractor invoices, and providing critical financial insights during project meetings. You'll also be responsible for ensuring adherence to budget methodologies and managing the cost components of large-scale projects, which is essential for successful project execution.

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What qualifications are required for the Cost Engineer III position at The Tsui Group?

To qualify for the Cost Engineer III role at The Tsui Group, you should possess a minimum of 10 years of experience in cost engineering related to construction projects, preferably in aviation. A Bachelor’s degree in Engineering or Construction Management is essential, alongside required cost engineer certifications like CCE or CCP. Additionally, proficiency in a large-scale cost reporting system is required, and experience with Prolog is highly valued.

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What type of projects will a Cost Engineer III at The Tsui Group work on?

A Cost Engineer III at The Tsui Group will work on large-scale, multi-million-dollar construction and renovation projects, specifically within the aviation sector. These projects are typically complex and require vigilant cost management, reporting methodologies, and budget analysis to ensure their successful completion and alignment with anticipated financial goals.

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How does the Cost Engineer III role at The Tsui Group contribute to project success?

The Cost Engineer III role at The Tsui Group is vital for project success as it involves maintaining strict cost controls, analyzing financial trends, and providing crucial progress reports to Project Management. By proactively identifying potential cost overages and ensuring accurate tracking of expenditures, the Cost Engineer III helps safeguard the budget, ensuring that projects remain financially viable and successfully executed.

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What benefits can a Cost Engineer III expect at The Tsui Group?

As a Cost Engineer III at The Tsui Group, you can expect a competitive salary ranging from $144,000 to $149,000, along with a comprehensive benefits package that includes 100% coverage for medical, vision, and dental insurance, life and disability insurance, paid vacation, sick leave, holiday pay, a 401k employer contribution, a monthly cell phone stipend, and a laptop for work purposes.

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Common Interview Questions for Cost Engineer III
Can you describe your experience with budget management in previous construction projects?

In answering this question, highlight a specific project where you managed the budget. Discuss how you tracked expenditures, anticipated cost overages, and any systems you used to maintain financial oversight.

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How do you approach reviewing and analyzing subcontractor invoices?

Discuss your methodical approach to reviewing invoices, ensuring that expenditures align with the Schedule of Values, and how you communicate any discrepancies with subcontractors to resolve issues efficiently.

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What tools or software are you proficient in that aid in cost reporting?

Be prepared to discuss your experience with cost reporting systems, particularly Prolog and Microsoft Office Suite, and how you’ve utilized these tools to create detailed reports and analyses.

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How do you ensure accuracy in job costing reports?

Explain your process for maintaining accuracy in job costing reports, including your strategy for cross-referencing data against budget projections and past performance metrics to ensure reliability.

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Describe a time when you identified a potential budget issue in a project.

Share a specific example where you spotted a budget issue early, what steps you took to analyze the situation, and how you communicated your findings to the relevant stakeholders to keep the project on track.

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How do you prioritize workload when managing multiple projects?

Discuss your time management strategies, including how you assess project timelines, deadlines, and critical issues to prioritize your work effectively across multiple projects.

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What methods do you use to conduct cost-to-complete analysis?

Explain the approaches you take to carry out cost-to-complete analysis, including how you evaluate staffing plans and ongoing changes to accurately forecast future budget needs.

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Can you provide an example of how you developed creative reporting tools for a project?

Here, share an instance where you designed innovative reporting tools that helped convey complex project information clearly, detailing the impact it had on project management and decision-making.

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How do you maintain communication with project stakeholders regarding budget impacts?

Comment on your communication style and methods, emphasizing transparency and regular updates with stakeholders about financial matters to ensure everyone is aligned on the project's fiscal health.

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What is your experience with change orders and managing contingency budgets?

Discuss your experience in handling change orders, providing specific examples of how you analyzed changes against contingency budgets and ensured that adjustments were documented and communicated effectively.

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EMPLOYMENT TYPE
Full-time, on-site
DATE POSTED
April 17, 2025

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