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Jacobs Cost Engineer in Chicago, Illinois

Cost Engineer


The Buildings & Infrastructure Line of Business is a global network of employees, which serves both the private and public sector. Our employees work to shape the communities we live in by creating world-class projects that transform the future development patterns of those communities. We provide our clients award-winning planning, engineering, architectural and interior design, construction and program management, and design-build project delivery. The Jacobs business model allows us to successfully service our clients, leverage our integrated services, and provide our employees with growth

opportunities while delivering global solutions to our client’s local programs.

We consistently receive high rankings from Engineering News-Record (ENR) in many classifications, including the categories of Top Design Firms, Top

Contractors, Top Green Buildings Design Firms, and Top Transportation Companies.

The Cost engineering specialistis accountable for timely and accurate input of data, thorough and accurate review and analysis of defined cost and budget

elements, and timely and accurate document production.The position will beas part of a joint venture team and the selected candidate will be hired by oneof the JV partners


The duties of the Cost engineering specialist are set out below, but also include any other reasonable activity as directed from time to time.

  • Monitor, control and analyze the project cost information, identify variances and bring these to the attention of the Project Manager or Cost Controls Manager with possible alternatives.

  • Analyze a cost data and reports, detect issues, and effectively communicate the project’s cost performance, issues/ concerns, & recovery plans to the project team

  • Regular interfacing and integration with the project scheduling team to maintain an aligned financial position with the project plan.

  • Input or update information, expenditure information, commitments and forecasts into the cost reporting system(s)

  • Ensure integrity of the project budget through approved scope changes, fiscal changes, funding sources, and contingency reallocations

  • Flag significant projected overruns or underruns and ensure all variances to the cost baseline are communicated in a timely manner.

  • Knows how to allocate the budget and establish a Cost Baseline

  • Liaise with Project team members and contractors with regards to progress and financial forecasting.

  • Assist in development of and use of Project Control Structures (CBS, OBS, WBS etc.).

  • Continually monitor Project Risk and Change status to maintain current forecast.

  • Assembly of project cost reports including estimate at completion and variances for review, preparation of Client specific reports and update the Cost Tool to comply with Project Reporting Cycles

  • Establish and maintain cost tracking reports to monitor budgets against actual costs and forecasts

  • Create regular project and program progress reports including cost, time, and quality metrics.

  • Monitoring key performance indicators as necessary

  • Knowledgeable in Total Cost Management and Earned Value Management

  • Active involvement in the change process, understanding the reasons for and factors influencing each change to the project’s cost baseline plus the implications of such change.

  • Challenge cost variances against the baseline plan with individual task leaders/contractors and/or outside stakeholder management as necessary to enable mitigation.

  • Proficient in Microsoft Excel and the use of Cost Control tools. Ability to create tables, pivot tables and graphs in excel to assist reporting

  • Process the updated cost information from cost estimates, invoices, and Project Manager assessments.

  • Provide invoice support including review of monthly invoices and all required invoice backup; track invoice payments; monitor release of subconsultant payments per contract terms.

  • Input updated cost reports and identify shortage and surplus funds for each project.

  • Prepare documents recommending fund transfers across projects and to and from contingency funds.

  • Create and submit Travel Expenses and Expenditure Forms.

  • Maintains Vendor Lists and Vendor Files.

  • Performs in depth review of various ledgers, documents, and analyses used in the Accounting Department. May evaluate completeness and accuracy.



  • Minimum 2 years’ experience in a project controls or related function is required

  • Proficient computer skills using MS Office tools. Proficient Excel skills are a must.

  • Good verbal and written communications skills and a desire to work with details.

  • BS or BA in Engineering, Cost Management, Project Management, Construction Management, Accounting or Finance preferred.

At Jacobs, we help prepare people for new opportunities and challenges. With positions at every level, openings in multiple disciplines, expertise in a range of markets and offices around the globe, we create an environment where you can learn, grow, and thrive. From our competitive benefits program to our Health and Safety initiative of Beyond Zero workplace injuries, we believe that you'll find a flourishing career here at Jacobs.

Jacobs is an Equal Opportunity/Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or other characteristics protected by law. Jacobs is a background screening, drug-free workplace.

Primary Location United States-Illinois-Chicago

Travel No

Req ID: BI 0006G9