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%
$134,190
TOTAL 50%
$139,938
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)
Collects Good Manufacturing Practices (GMPs) requirements with a focus on change control.
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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)
Maintains proper change management documentation to ensure alignment with audit controls.
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Level 4 Behaviors
(Extensive Experience)
Facilitates change control review board meetings to discuss requested changes with key stakeholders and executives.
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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 apply data analytics to successful strategies.
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Level 2 Behaviors
(Light Experience)
Conducts data cleaning process by removing duplicate records to ensure effective data analytics.
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Level 3 Behaviors
(Moderate Experience)
Prepares data analytics tool to create visualizations.
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Level 4 Behaviors
(Extensive Experience)
Leads overall data analytics activities of our organization to apply decision-making techniques.
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Level 5 Behaviors
(Mastery)
Establishes best-in-class analytic data to improve performance by discovering patterns in data.
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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 all the advantages and disadvantages of gap analysis.
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Level 2 Behaviors
(Light Experience)
Documents gap analysis to identify the differences in the state of our organization.
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Level 3 Behaviors
(Moderate Experience)
Determines opportunities for business process improvement by conducting gap analysis.
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Level 4 Behaviors
(Extensive Experience)
Facilitates gap analysis for each product and strategies to drive improvement of the management.
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Level 5 Behaviors
(Mastery)
Develops standard operating procedures to facilitate gap analysis across our organization.
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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)
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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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)
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)
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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