Skills & Competencies for Cost Estimation Engineer IV

Cost Estimation Engineer IV job profile

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JOB SUMMARY for Cost Estimation Engineer IV

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

JOB RESPONSIBILITIES for Cost Estimation Engineer IV

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 IV SALARY RANGE

BASE 50%
$133,840
TOTAL 50%
$139,574
Job Level
P04
Job Code
EN04100279
Education/Degree
Bachelor's Degree
Reports To
Manager

Cost Estimation Engineer IV 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 IV 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 IV

1 Industry Competency – Cost Estimation
Proficiency Level -4
Skill definition-Forecasting costs and resources to complete a project within a defined scope.
Level 1 Behaviors
(General Familiarity)
Explains resource requirements for project and cost estimation activities.
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Level 2 Behaviors
(Light Experience)
Collects inputs for cost estimation from staff for process improvement.
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Level 3 Behaviors
(Moderate Experience)
Provides insights on the pros and cons of various cost estimation approaches.
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Level 4 Behaviors
(Extensive Experience)
Provides accurate estimations of benefit savings, project costs, and technical feasibility.
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Level 5 Behaviors
(Mastery)
Develops advanced estimation models to improve the effectiveness of cost estimation.
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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)
Describes the application of change control software and databases to production.
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Level 2 Behaviors
(Light Experience)
Gathers information about change management plans and roadmaps for the execution of new control methods.
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Level 3 Behaviors
(Moderate Experience)
Partners with teams across departments to ensure active engagement in change control.
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Level 4 Behaviors
(Extensive Experience)
Implements improvements to the overall document control and change management process.
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Level 5 Behaviors
(Mastery)
Develops procedural implementation and change management processes with executives to ensure proper control governance.
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3 Cost Estimation Engineer IV - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Cost Estimation Engineer IV
Proficiency Level - 4
5 Competency for - Cost Estimation Engineer IV
Proficiency Level - 5

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

1 Job Family Competencies – Data Analytics
Proficiency Level -4
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)
Explains how to interpret data analytics and metrics to drive better business decision-making.
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Level 2 Behaviors
(Light Experience)
Documents data requirements for projects by working with business users.
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Level 3 Behaviors
(Moderate Experience)
Provides and leverages data analytics solutions to mitigate business risk and handle setbacks.
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Level 4 Behaviors
(Extensive Experience)
Monitors data sources used for analytics to update data and meet quality standards.
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Level 5 Behaviors
(Mastery)
Establishes performance metrics focused on Data Analytics to track optimization opportunities.
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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)
Documents the misalignment that may arise in conducting gap analysis.
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Level 2 Behaviors
(Light Experience)
Documents the current processes to support the facilitation of performing gap analysis.
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Level 3 Behaviors
(Moderate Experience)
Executes gap analysis to improve business performance with established standards.
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Level 4 Behaviors
(Extensive Experience)
Monitors and analyzes data to identify gaps or trends and drive strategic decision-making.
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Level 5 Behaviors
(Mastery)
Elaborates processes and procedures to identify gaps and improve business operational efficiency.
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3 Cost Estimation Engineer IV - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Cost Estimation Engineer IV
Proficiency Level - 4
5 Competency for - Cost Estimation Engineer IV
Proficiency Level - 5

6 soft skills or competencies (core competencies) for Cost Estimation Engineer IV

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)
Explains the use of surveys and interviews in gathering the necessary information.
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Level 2 Behaviors
(Light Experience)
Conducts basic research to identify current industry trends and best practices.
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Level 3 Behaviors
(Moderate Experience)
Participates in various company events to gain information about current business operations.
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Level 4 Behaviors
(Extensive Experience)
Provides training to others about new techniques and strategies for effective data collection.
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Level 5 Behaviors
(Mastery)
Establishes procedures for gathering information to anticipate future customer or business needs.
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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)
Gathers necessary information from various channels to support decision-making.
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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)
Evaluates the cost, return, risks, and achievements before recommending a solution.
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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 IV - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Cost Estimation Engineer IV
Proficiency Level - 4
5 Competency for - Cost Estimation Engineer IV
Proficiency Level - 5

Summary of Cost Estimation Engineer IV skills and competencies

There are 3 hard skills for Cost Estimation Engineer IV, Cost Estimation, Change Control, Materials Requirement Planning (MRP).
4 general skills for Cost Estimation Engineer IV, Data Analytics, Gap Analysis, Enterprise Resource Planning (ERP), etc.
6 soft skills for Cost Estimation Engineer IV, Gathering Information, Analytical Thinking, Attention to Detail, etc.
While the list totals 13 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 IV, 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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