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Introduction Of MASCO Structure Of Classification Starting Salary Guidelines
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Major Group
2
Professionals
Sub-Major Group
21
Science and Engineering Professionals
Minor Group
214
Engineering Professionals (Excluding Electrotechnology)
Unit Group
2141
Industrial and Production Engineers
Minor Unit Group
MASCO Code
2141-07
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Cost Evaluation Engineer estimates and analyses the costs of engineering projects by reviewing technical requirements and all associated expenses, including materials, labour, equipment, and tooling. They assess cost-effectiveness, identify opportunities for savings, and recommend strategies to optimise operational spending, supporting budgeting, financial planning, and ensuring projects are completed efficiently, within budget, and to required quality standards.
Tasks
Conduct cost analyses for engineering projects or production processes.
Prepare accurate cost estimates based on technical requirements and associated project expenses.
Review technical requirements, financial records, and related documents to ensure cost accuracy.
Analyse material, labour, equipment, overhead, and tooling costs.
Monitor and track project budgets and expenditures.
Identify and assess opportunities for cost savings and improved cost-effectiveness.
Provide recommendations to management on cost optimisation and operational spending.
Plan and coordinate cost evaluation activities to support budgeting and financial planning.
Collaborate with project managers to support project completion within budget and required quality standards.
Skills
Basic
Ability to work under pressure and apply project management principles.
Attention to detail.
Critical thinking and decision-making.
Effective communication and reporting skills.
Strong analytical and mathematical skills.
Specific
Ability to analyse project and operational costs to support cost-effectiveness assessment.
Ability to manage budgets, forecasts, and cost control measures.
Competency in using cost management and project management tools.
Knowledge in engineering processes, materials, equipment, and tooling costs for cost evaluation.
Knowledge in engineering requirements, specifications, and cost drivers for project evaluation.
Proficiency in cost estimation and financial analysis for engineering projects.
Proficiency in financial and cost management software.
Additional Info
QUALIFICATION
Bachelor’s degree or equivalent
Related Courses
Claimable Course
e-Latih Online Course
Madani TVET Course
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