Cost Engineer

Prospero Engineering
19 Feb 2019
03 Mar 2019
Contract Type
Full Time
Cost Engineer

Milton Keynes

£up to 34k

Prospero Engineering have a fantastic new opportunity for a Cost Engineer to join a fantastic Engineering firm in the Milton Keynes Area.

Main purpose:

Reporting to the Business Development Director estimating a wide range of components, assembly and tooling costs, completing internal & external QAF’s. Also supporting Project Managers, Purchasing, and the Commercial & Sales Team.

Key Responsibilities:


* Determine cost estimates during the design and development process, recommending cost effective solutions, including injection moulding techniques

* Gather proposals, specifications and related documents liaising with Project Managers, Design and Purchasing etc., in order to convert the specifications to cost estimates for new products.

* Utilise cost methodologies, tools, and appropriate software models/packages to prepare and maintain reliable accurate data for management reviews.

* Establish cost estimates of proposed production processes and tooling costs and review alternatives, or put forward recommendations for improvement.

* Assess cost effectiveness of quotations and track actual costs relative to budget. Reporting the status on a regular basis to ensure costs are in line with forecasts during the project milestones.

* Provide cost estimates during change process and advise cost impact of changes. Track and monitor activity.

* Prepare and submit internal and customer QAF’s and liaise with customers on VFM issues.

Series Production

* Investigate and identify cost reduction opportunities through cost analysis review.

* Gather proposals, specifications and related documents and liaise with Project Managers, Commercial Team and Purchasing in order to convert specifications to cost estimates for production changes.

* Prepare cost and expenditure statements, reports and other necessary documentation at regular intervals and report to the business.

* Support all activities in cost estimating and take a proactive approach towards improvements.

* Liaise and support management decisions by providing appropriate cost information and data.

* Provide cost estimates during the change process and advise of cost impact of changes. Track and monitor activity.

Engineering Change control for Production projects

* Process engineering changes internally and externally (supplier & customer) for products already in production.

* Follow the commercial processes, project management, engineering change feasibility and engineering change procedures to coordinate and deliver changes.

* Review costs internally and externally including quotation and customer meetings to deliver changes on time, to budget with required quality standards.

* Report change status internally and externally.

* Coordinate cross functional teams to meet requirements outlined above.

General - Support Projects and Series Production Activities

* Analyse supplier quotes and provide information and data, which aids communications with suppliers and customers and achieves cost optimisation.

* Ensure supplier quotations meet ‘should cost’ estimates.

* Support supplier meetings and negotiations to challenge quotation prices and aim for cost reductions to meet target costs.

* Support and utilise experience to aid best practice in the supplier process in conjunction with members of the purchasing team.

Skills and Experience:

* Relevant business/commercial or manufacturing/engineering degree preferred, ONC, A Levels, City & Guilds Level 3, BTec National Diploma Level 3, IVQ Technician Diploma or equivalent NVQ level 3 qualification.

* Experience of cost estimating, ideally in an automotive, manufacturing or engineering environment.

* Good IT systems knowledge and skills including Excel and Access

* Experienced in the use of spreadsheets, estimating pricing models and cost management tools.

* Able to show evidence of adding value and cost optimisation.

Please note all applicants must be eligible to live and work in the UK

Cost Engineer, Cost estimator, VAVE, VA/VE, Value Engineer, Procurement Engineer

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