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)
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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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)
Documents control changes in manufacturing projects for formal assessment.
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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)
Creates and implements innovative strategies for organizational change controls in accordance with quality standards.
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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)
Discusses the models and roles of business data analytics.
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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)
Partners with internal and data engineering teams to fully optimize acquisition data sources.
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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)
Develops robust analytics requirements to define algorithms and data sources for stakeholders.
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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)
Describes the process of assessing the current and target state of business through gap analysis.
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Level 2 Behaviors
(Light Experience)
Conducts gap analysis to support the development of business process improvement plans.
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Level 3 Behaviors
(Moderate Experience)
Defines as-is and to-be processes for facilitation of gap analysis on business programs.
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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)
Describes the importance of gathering relevant information in making informed business decisions.
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Level 2 Behaviors
(Light Experience)
Checks multiple sources to get complete and accurate information.
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Level 3 Behaviors
(Moderate Experience)
Asks questions and gathers the necessary information to make informed business decisions.
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Level 4 Behaviors
(Extensive Experience)
Monitors the overall process of records retention programs.
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Level 5 Behaviors
(Mastery)
Designs a system for monitoring the effectiveness of data-gathering channels.
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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)
Describes the importance of analytical thinking in the workplace.
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Level 2 Behaviors
(Light Experience)
Asks the right questions to ensure clarity on business goals and requirements.
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Level 3 Behaviors
(Moderate Experience)
Develops alternative solutions and compares the pros and cons.
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Level 4 Behaviors
(Extensive Experience)
Determines and prioritizes the sequence of steps for a specific situation.
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Level 5 Behaviors
(Mastery)
Evaluates potential risks using extensive industry knowledge when considering new opportunities.
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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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