Cost Estimation Professional

PIF is seeking a candidate to join Local Real Estate Investments team to advise on the provision of cost estimation services related to Local Real Estate (LRE) Investments’ projects and consolidating a database of costs across Development Companies (DevCos), while facilitating adherence to respective policies, procedures, and best practices and providing cost optimization levers to reduce costs across the portfolio.

Specialized Accountabilities

• Recommend and maintain ‘Tender Price Index’, ‘Building Material Cost Index’, ‘Material Prices Databases’ and ‘Construction Price Index’ for alignment with construction market.
• Assess in building CAPEX assumptions and benchmarks at projects’ kick off stages.
• Advise on the preparation of budgets, estimates and cost plans at all stages of the DMO and monitor budgets and expenditures to ensure they align with the approved cost estimates.
• Suggest development costs and corporate operating expenses (OPEX) and advise on strategies to optimize project costs.
• Advise on the value management process, provide cost studies and advice on cost effective design solutions including synergistic opportunities.
• Assess the RFP’s and proposals and review construction tenders/bid analyses and associated Bills of Quantity (BoQs)
• Recommend and share the best practices in cost management, budgeting, and forecasting to ensure financial viability and efficiency across projects.
• Conduct comprehensive analysis on data from various sources to create a comprehensive construction cost database, supporting accurate and competitive cost estimations.
• Provide tracked actual expenditures against budgeted amounts, identifying variances and recommending corrective actions to manage project finances effectively.
• Recommend future costs based on current spending patterns and project progress, aiding in long-term financial planning and cost control.
• Propose a database of cost optimization levers, conducting detailed assessments to identify and implement cost-saving opportunities across projects.

Propose the value management process, provide cost studies and advice on cost effective design solutions including synergistic opportunities.

Common Accountabilities

• Contribute to the development and successful implementation of the organizational strategy, by providing expert level advise to the concerned stakeholders enabling them to make informed decisions.
• Provide inputs and insights related to operational excellence improvement initiatives and propose improvements on systems, processes and practices related to the area of expertise, taking into account international leading practices, in order to continuously enhance the organizational effectiveness and business performance.
• Contribute to the development of policies, systems, processes, procedures and controls within the area of expertise or propose relevant enhancements as needed, ensuring alignment and adherence to any relevant compliance, risk, audit, cybersecurity and regulatory requirements.

Qualifications / Years of Experience

• Minimum: Bachelors in Finance, Business Administration, Engineering, or any other relevant discipline
• 8 years of experience in a relevant field (or 3 years for postgraduates)
• Any relevant certification such as Certified Cost Professional (CCP), or Project Management Professional (PMP), etc.

Personal Competencies

• Good communication skills (written and oral) with the ability to convince the stakeholders.
• Ability to establish credibility with stakeholders.
• Ability to adapt to rapidly changing business needs.
• Strong organizational/project management skills, the ability to manage and achieve multiple deadlines.
• Ability to motivate, guide, and inspire others to achieve common goals and vision.