3 hard skills or competencies (industry competencies) for Cost Estimation Engineer III
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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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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4 general skills or competencies (Job family competencies) for Cost Estimation Engineer III
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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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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5 soft skills or competencies (core competencies) for Cost Estimation Engineer III
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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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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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.