3 hard skills or competencies (industry competencies) for Cost Estimation Engineer IV
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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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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4 general skills or competencies (Job family competencies) for Cost Estimation Engineer IV
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)
Oversees data analytics team members to ensure data collection and management meet requirements.
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Level 5 Behaviors
(Mastery)
Establishes performance metrics focused on Data Analytics to track optimization opportunities.
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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)
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)
Performs gap analysis to ensure corrective action plans appropriately address the control gap.
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Level 4 Behaviors
(Extensive Experience)
Oversees the implementation of the fixes related to the gaps found during the analysis.
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Level 5 Behaviors
(Mastery)
Establishes teaming strategies based on gap analysis to drive profitable returns in business.
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6 soft skills or competencies (core competencies) for Cost Estimation Engineer IV
Skill definition-Accumulating necessary information from various resources to clarify the situation or make an informed business decision.
Level 1 Behaviors
(General Familiarity)
Lists the principles and procedures of gathering information.
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Level 2 Behaviors
(Light Experience)
Determines the source of information to verify its reliability.
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Level 3 Behaviors
(Moderate Experience)
Uses survey results to identify areas that need improvement within our business.
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Level 4 Behaviors
(Extensive Experience)
Recommends improvement of our business's records retention program.
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Level 5 Behaviors
(Mastery)
Establishes procedures for gathering information to anticipate future customer or business needs.
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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)
Identifies tools that assist 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)
Handles complex issues and provides solutions to improve efficiency and scalability.
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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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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.