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%
$105,202
TOTAL 50%
$108,380
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)
Applies project cost estimation techniques to calculate expected costs.
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Level 3 Behaviors
(Moderate Experience)
Analyzes completed projects to compare estimated costs to determine any discrepancies.
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Level 4 Behaviors
(Extensive Experience)
Manages the process of resource planning and cost estimation.
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Level 5 Behaviors
(Mastery)
Builds modern cost estimation tools and technologies based on performance attributes.
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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)
Cites the classification categories of change, including minor, major, and critical.
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Level 2 Behaviors
(Light Experience)
Conducts documentation of control management including annual reviews and change requests.
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Level 3 Behaviors
(Moderate Experience)
Administers approved changes to product specifications and implements change controls.
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Level 4 Behaviors
(Extensive Experience)
Communicates with cross-functional stakeholders on matters related to the change control management process.
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Level 5 Behaviors
(Mastery)
Conceptualizes strategic methods for process improvements to understand the impacts of change on production.
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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 best practices and concepts in data analytics.
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Level 2 Behaviors
(Light Experience)
Applies broad knowledge and best practices to provide data analytics services to clients.
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Level 3 Behaviors
(Moderate Experience)
Makes recommendations based on findings from data analytics to report to potential clients.
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Level 4 Behaviors
(Extensive Experience)
Communicates data analytics results to initiate insights to stakeholders and our organization.
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Level 5 Behaviors
(Mastery)
Develops new Data Analytics methodologies and procedures to support business in decision making.
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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)
Compiles a list of all the gaps in business performance.
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Level 2 Behaviors
(Light Experience)
Assists in creating corrective action plans to resolve control gaps and issues.
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Level 3 Behaviors
(Moderate Experience)
Assesses long-term needs, performs gap analysis, and makes future state recommendations.
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Level 4 Behaviors
(Extensive Experience)
Develops gap analysis to identify new training opportunities and improve existing training programs.
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Level 5 Behaviors
(Mastery)
Creates gap analysis and designs innovative solutions to close gaps promptly.
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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)
Cites examples of methods used to collect and compile information.
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Level 2 Behaviors
(Light Experience)
Applies techniques and tools to gather, organize, and archive pertinent information.
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Level 3 Behaviors
(Moderate Experience)
Analyzes employees' feedback to determine necessary changes to be implemented within our business.
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Level 4 Behaviors
(Extensive Experience)
Implements strategies to streamline the data collection process.
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Level 5 Behaviors
(Mastery)
Creates confidentiality agreements to ensure accurate submission of information from employees.
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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)
Explains the integral role data collection plays when conducting analytical thinking.
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Level 2 Behaviors
(Light Experience)
Breaks down a specific project into lists of tasks.
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Level 3 Behaviors
(Moderate Experience)
Examines information or a situation thoroughly and in detail.
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Level 4 Behaviors
(Extensive Experience)
Draws conclusions based upon logic and intuitive judgment.
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Level 5 Behaviors
(Mastery)
Forecasts customers' expectations and formulates strategies to ensure customer satisfaction.
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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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