Skills & Competencies for Cost Estimation Engineer III

Cost Estimation Engineer III job profile

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JOB SUMMARY for Cost Estimation Engineer III

Estimates costs for construction, engineering, manufacturing, or other implementation projects based on an analysis of project technical requirements.

JOB RESPONSIBILITIES for Cost Estimation Engineer III

Collects data and analyzes all project costs, including raw materials, labor, equipment and tooling to ensure estimates are accurate. Identifies and quantifies potential cost uncertainties to ensure costing models capture the full range of potential costs. Updates costs as necessary based on new information and project scope changes. Coordinates with project management, engineering, procurement and other project stakeholders.

Cost Estimation Engineer III SALARY RANGE

BASE 50%
$105,643
TOTAL 50%
$109,208
Job Level
P03
Job Code
EN04100278
Education/Degree
Bachelor's Degree
Reports To
Manager

Cost Estimation Engineer III Skills and Competencies List

Proficiency Levels and Behavioural Indicators
Salary.com identifies five increasing levels of proficiency for each skill/competency. Some jobs require only a relatively low level of proficiency in each skill/competency, while other jobs will require a more advanced level of proficiency in the same skill/competency. These levels rate the degree of proficiency (skill level, expertise) we expect the incumbent to perform in the given skill/competency for the given job. Note that we intentionally do not associate timeframes or years of experience in performing the skill/competency because that can be misleading. Proficiency levels identify what the incumbent knows and can do rather than how long they have been doing it. Also, note that the proficiency levels are cumulative, e.g., a level 4 proficiency implies the ability to perform all the behaviors at the lower levels.
Check each Cost Estimation Engineer III skill and competencie below to view definitions.
INDUSTRY COMPETENCIES JOB FAMILY COMPETENCIES CORE COMPETENCIES
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3 hard skills or competencies (industry competencies) for Cost Estimation Engineer III

1 Industry Competency – Cost Estimation
Proficiency Level -3
Skill definition-Forecasting costs and resources to complete a project within a defined scope.
Level 1 Behaviors
(General Familiarity)
Describes the importance of cost estimation to complete a project.
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Level 2 Behaviors
(Light Experience)
Assists in performing cost estimations to optimize efficiencies for contracting.
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Level 3 Behaviors
(Moderate Experience)
Determines cost trends to drive cost reduction and process improvement efforts.
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Level 4 Behaviors
(Extensive Experience)
Oversees the overall cost estimation for the development and execution of engineering projects.
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Level 5 Behaviors
(Mastery)
Designs modern and advanced process operational models for end-to-end cost estimation and reduction.
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2 Industry Competency – Change Control
Proficiency Level -3
Skill definition-Managing and implementing requests to change an existing function, process, system, or product.
Level 1 Behaviors
(General Familiarity)
Collects change request forms and related documents for formal assessment.
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Level 2 Behaviors
(Light Experience)
Documents control changes in manufacturing projects for formal assessment.
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Level 3 Behaviors
(Moderate Experience)
Executes requests for change based on quality management system (QMS) requirements.
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Level 4 Behaviors
(Extensive Experience)
Controls the enforcement of standards and GMP practices to optimize the workflow for change control.
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Level 5 Behaviors
(Mastery)
Creates and implements innovative strategies for organizational change controls in accordance with quality standards.
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3 Cost Estimation Engineer III - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Cost Estimation Engineer III
Proficiency Level - 4
5 Competency for - Cost Estimation Engineer III
Proficiency Level - 5

4 general skills or competencies (Job family competencies) for Cost Estimation Engineer III

1 Job Family Competencies – Data Analytics
Proficiency Level -3
Skill definition-Applying techniques and processes in examining and evaluating raw data to derive conclusions to support business decision-making.
Level 1 Behaviors
(General Familiarity)
Discusses the models and roles of business data analytics.
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Level 2 Behaviors
(Light Experience)
Collects data from sources to provide data analysis and insights.
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Level 3 Behaviors
(Moderate Experience)
Partners with internal and data engineering teams to fully optimize acquisition data sources.
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Level 4 Behaviors
(Extensive Experience)
Enhances data collection procedures to build analytic systems.
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Level 5 Behaviors
(Mastery)
Develops robust analytics requirements to define algorithms and data sources for stakeholders.
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2 Job Family Competencies – Gap Analysis
Proficiency Level -3
Skill definition-Assessing the differences between the current and target state of an organization to determine how to achieve desired business goals.
Level 1 Behaviors
(General Familiarity)
Describes the process of assessing the current and target state of business through gap analysis.
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Level 2 Behaviors
(Light Experience)
Compiles the unprofitable processes through gap analysis and implements corrective action plans.
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Level 3 Behaviors
(Moderate Experience)
Defines as-is and to-be processes for facilitation of gap analysis on business programs.
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Level 4 Behaviors
(Extensive Experience)
Directs the facilitation of gap analysis to improve existing business control methods.
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Level 5 Behaviors
(Mastery)
Creates gap analysis to achieve the functional competitive advantage of the business.
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3 Cost Estimation Engineer III - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Cost Estimation Engineer III
Proficiency Level - 4
5 Competency for - Cost Estimation Engineer III
Proficiency Level - 5

5 soft skills or competencies (core competencies) for Cost Estimation Engineer III

1 Core Competencies – Gathering Information
Proficiency Level -3
Skill definition-Accumulating necessary information from various resources to clarify the situation or make an informed business decision.
Level 1 Behaviors
(General Familiarity)
Describes the importance of gathering relevant information in making informed business decisions.
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Level 2 Behaviors
(Light Experience)
Checks multiple sources to get complete and accurate information.
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Level 3 Behaviors
(Moderate Experience)
Asks questions and gathers the necessary information to make informed business decisions.
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Level 4 Behaviors
(Extensive Experience)
Monitors the overall process of records retention programs.
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Level 5 Behaviors
(Mastery)
Designs a system for monitoring the effectiveness of data-gathering channels.
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2 Core Competencies – Analytical Thinking
Proficiency Level -3
Skill definition-Gathering, organizing, and analyzing information to identify the root cause of organizational problems and develop alternative solutions accordingly.
Level 1 Behaviors
(General Familiarity)
Describes the importance of analytical thinking in the workplace.
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Level 2 Behaviors
(Light Experience)
Asks the right questions to ensure clarity on business goals and requirements.
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Level 3 Behaviors
(Moderate Experience)
Decomposes complex issues into several parts and solves them individually.
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Level 4 Behaviors
(Extensive Experience)
Determines and prioritizes the sequence of steps for a specific situation.
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Level 5 Behaviors
(Mastery)
Establishes critical training and initiatives to foster analytical thinking across our business.
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3 Cost Estimation Engineer III - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Cost Estimation Engineer III
Proficiency Level - 4
5 Competency for - Cost Estimation Engineer III
Proficiency Level - 5

Summary of Cost Estimation Engineer III skills and competencies

There are 3 hard skills for Cost Estimation Engineer III, Cost Estimation, Change Control, Materials Requirement Planning (MRP).
4 general skills for Cost Estimation Engineer III, Data Analytics, Gap Analysis, Enterprise Resource Planning (ERP), etc.
5 soft skills for Cost Estimation Engineer III, Gathering Information, Analytical Thinking, Attention to Detail, etc.
While the list totals 12 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a Cost Estimation Engineer III, he or she needs to be skilled in Gathering Information, be skilled in Analytical Thinking, and be skilled in Attention to Detail.

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