Cost Manager
JOB SUMMARY The purpose of this position is to lead individual multi-disciplined real estate cost solutions for clients with direct accountability for cost management delivery.
Characteristics of responsible costs:
Complexity:
Medium Risk:
Medium Duration:
Mid term weeks to months Value:
Typically < $2 Million USD Region:
LMA and/or Regional GWS Account This role can be located in the following cities:
Charlotte - Boston - NYC - Washington DC - Philadelphia ESSENTIAL DUTIES AND RESPONSIBILITIES Manages all facets of cost management (budget, schedule, procurement, quality & risk) for individual real estate projects throughout planning, design, construction, occupancy, and closeout.
Produce concept level estimates to aid feasibility studies and assist with business cases, leveraging a range of information from simple internal benchmarking to detailed market data and estimates taken from drawings and specifications.
Issue recommendations for the application of a estimator to produce costing of greater detail; incorporate estimator into project team - manage performance of estimating tasks/deliverables.
Evaluate project scope and client needs to develop and present recommended budgets for necessary pre-bid and pre-construction cost estimating and cost planning services.
Partner with project team to source and oversee the pre-bid and pre-construction services associated with the development of a project budget and cost plan.
Lead the administration associated with funding all project work, including creation of funding documents in use by the client (such as purchase orders or Capital funding requests).
Work with client and Project Manager to ensure compliance with these systems; promote proactive creation/submission of all necessary funding documents to ensure all project work is funded in compliance with Client's internal funding policies.
Support project manager and leasing team to estimate costs associated with the lease (upfit, abatement, reinstatement, etc.
) to optimize landlord contribution/tenant improvement allowances on behalf of the Client.
Ensure contracts with project team (designers, contractors) include language aligned with lease requirements for the solicitation of all landlord contributions.
Support project manager team in the implementation of all project procurement in accordance with Employer corporate policies and guidelines; make recommendations on the project procurement strategy.
Lead the analysis of bid/tender responses, leveling all responses and organizing the data into a concise yet thorough report for presentation to the Client.
Include recommendations for items such as allowances, contingencies, and reserves.
Create and manage a detailed cost plan; produce and maintain detailed cost reports on a regular basis and present these reports to the Client.
Align cost plan with project master schedule; provide cost guidance and direction to achieve cost goals with scope/schedule.
Establish strategy to manage cash flows and project accruals and report progress in a manner consistent with Employer policy yet flexible to adapt to client's needs/systems.
Promote Value Engineering (VE) as a continual process to be implemented throughout the duration of the project and where necessary lead (or support if lead by Project Manager) Value engineering workshops, exercises and provide ideas and initiatives to add value.
Act as a resource for implementing best practices to optimize the outcome of all VE efforts including tools, reports and goals - track/report progress against cost savings and value to fee targets.
Reconcile all estimates and change orders; scrutinize, analyze and perform due diligence on all change orders; lead reconciliation meetings with General Contractors, Construction Managers and third party consultancies.
Update cost plan/report accordingly and advise project team of cost risk mitigation strategies required to main cost compliance; advise project team and Client of high risk cost issues.
Assist the Client and design team with life cycle costing of LEED/sustainability initiatives (as appropriate).
Review all invoices against cost plan; provide valuation services and signoff to project team (subject to Employer approval limits) in collaboration with team members charged with validation work has been completed to required scope and level of quality.
Review and approve all requests to apply costs toward allowances, contingencies and reserves; update cost plan accordingly.
SUPERVISORY RESPONSIBILITIES Support cost/budget aspects of the project closeout; negotiate, agree and settle final accounts and close-out statements.
Issue release of all withholdings/retainage (subject to Employer approval limits); close all funding approvals in accounting systems (purchase orders).
Capture project costs for contribution to Employer cost benchmarking/estimating databases and tools.
Facilitate and oversee the administration of tasks required by the lease to collect landlord contributions/tenant improvement allowances.
Manages 3rd party project delivery resources/team.
Responsible for identifying training needs, tracking performance, coaching, and motivating team members.
nnQUALIFICATIONS To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
The requirements listed below are representative of the knowledge, skill, and/or ability required.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and EXPERIENCE Other duties as assigned.
CERTIFICATES and/or LICENSES No formal supervisory responsibilities in this position.
Provides informal assistance such as technical guidance, and/or training to coworkers.
May lead cost teams and/or plan, and supervise assignments of lower level employees.
COMMUNICATION SKILLS Bachelor's degree (BA/BS/BEng/BArch) from College or University in a technical area of study.
Minimum 4 years of related experience and/or training.
FINANCIAL KNOWLEDGE RICS (Royal Institute of Chartered Surveyors) or CIOB (Chartered Institute of Building) accreditation preferred.
REASONING ABILITY Excellent written and verbal communication skills.
Strong organizational and analytical skills.
Ability to provide efficient, timely, reliable and courteous service to customers.
Ability to effectively present information.
OTHER SKILLS and ABILITIES Requires advanced knowledge of financial terms and principles.
Ability to calculate intermediate figures such as percentages, discounts, and commissions.
Conducts advanced financial analysis.
Ability to comprehend, analyze, and interpret complex documents.
Ability to solve problems involving several options in situations.
Requires advanced analytical and quantitative skills.
Advanced skills with Microsoft Office Suite.
Working knowledge in MS Project is helpful.
Knowledge with estimating software such as OST preferred.
Ability to read and understand architectural drawings.
Knowledge of leases, contracts, and construction practices preferred.
SCOPE OF RESPONSIBILITY Decisions made with thorough understanding of procedures, company policies, and business practices to achieve general results and deadlines.
Responsible for setting work unit and/or project deadlines.
Errors in judgment may cause short-term impact to department.
Department:
Accounting.
Estimated Salary: $20 to $28 per hour based on qualifications.
Characteristics of responsible costs:
Complexity:
Medium Risk:
Medium Duration:
Mid term weeks to months Value:
Typically < $2 Million USD Region:
LMA and/or Regional GWS Account This role can be located in the following cities:
Charlotte - Boston - NYC - Washington DC - Philadelphia ESSENTIAL DUTIES AND RESPONSIBILITIES Manages all facets of cost management (budget, schedule, procurement, quality & risk) for individual real estate projects throughout planning, design, construction, occupancy, and closeout.
Produce concept level estimates to aid feasibility studies and assist with business cases, leveraging a range of information from simple internal benchmarking to detailed market data and estimates taken from drawings and specifications.
Issue recommendations for the application of a estimator to produce costing of greater detail; incorporate estimator into project team - manage performance of estimating tasks/deliverables.
Evaluate project scope and client needs to develop and present recommended budgets for necessary pre-bid and pre-construction cost estimating and cost planning services.
Partner with project team to source and oversee the pre-bid and pre-construction services associated with the development of a project budget and cost plan.
Lead the administration associated with funding all project work, including creation of funding documents in use by the client (such as purchase orders or Capital funding requests).
Work with client and Project Manager to ensure compliance with these systems; promote proactive creation/submission of all necessary funding documents to ensure all project work is funded in compliance with Client's internal funding policies.
Support project manager and leasing team to estimate costs associated with the lease (upfit, abatement, reinstatement, etc.
) to optimize landlord contribution/tenant improvement allowances on behalf of the Client.
Ensure contracts with project team (designers, contractors) include language aligned with lease requirements for the solicitation of all landlord contributions.
Support project manager team in the implementation of all project procurement in accordance with Employer corporate policies and guidelines; make recommendations on the project procurement strategy.
Lead the analysis of bid/tender responses, leveling all responses and organizing the data into a concise yet thorough report for presentation to the Client.
Include recommendations for items such as allowances, contingencies, and reserves.
Create and manage a detailed cost plan; produce and maintain detailed cost reports on a regular basis and present these reports to the Client.
Align cost plan with project master schedule; provide cost guidance and direction to achieve cost goals with scope/schedule.
Establish strategy to manage cash flows and project accruals and report progress in a manner consistent with Employer policy yet flexible to adapt to client's needs/systems.
Promote Value Engineering (VE) as a continual process to be implemented throughout the duration of the project and where necessary lead (or support if lead by Project Manager) Value engineering workshops, exercises and provide ideas and initiatives to add value.
Act as a resource for implementing best practices to optimize the outcome of all VE efforts including tools, reports and goals - track/report progress against cost savings and value to fee targets.
Reconcile all estimates and change orders; scrutinize, analyze and perform due diligence on all change orders; lead reconciliation meetings with General Contractors, Construction Managers and third party consultancies.
Update cost plan/report accordingly and advise project team of cost risk mitigation strategies required to main cost compliance; advise project team and Client of high risk cost issues.
Assist the Client and design team with life cycle costing of LEED/sustainability initiatives (as appropriate).
Review all invoices against cost plan; provide valuation services and signoff to project team (subject to Employer approval limits) in collaboration with team members charged with validation work has been completed to required scope and level of quality.
Review and approve all requests to apply costs toward allowances, contingencies and reserves; update cost plan accordingly.
SUPERVISORY RESPONSIBILITIES Support cost/budget aspects of the project closeout; negotiate, agree and settle final accounts and close-out statements.
Issue release of all withholdings/retainage (subject to Employer approval limits); close all funding approvals in accounting systems (purchase orders).
Capture project costs for contribution to Employer cost benchmarking/estimating databases and tools.
Facilitate and oversee the administration of tasks required by the lease to collect landlord contributions/tenant improvement allowances.
Manages 3rd party project delivery resources/team.
Responsible for identifying training needs, tracking performance, coaching, and motivating team members.
nnQUALIFICATIONS To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
The requirements listed below are representative of the knowledge, skill, and/or ability required.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and EXPERIENCE Other duties as assigned.
CERTIFICATES and/or LICENSES No formal supervisory responsibilities in this position.
Provides informal assistance such as technical guidance, and/or training to coworkers.
May lead cost teams and/or plan, and supervise assignments of lower level employees.
COMMUNICATION SKILLS Bachelor's degree (BA/BS/BEng/BArch) from College or University in a technical area of study.
Minimum 4 years of related experience and/or training.
FINANCIAL KNOWLEDGE RICS (Royal Institute of Chartered Surveyors) or CIOB (Chartered Institute of Building) accreditation preferred.
REASONING ABILITY Excellent written and verbal communication skills.
Strong organizational and analytical skills.
Ability to provide efficient, timely, reliable and courteous service to customers.
Ability to effectively present information.
OTHER SKILLS and ABILITIES Requires advanced knowledge of financial terms and principles.
Ability to calculate intermediate figures such as percentages, discounts, and commissions.
Conducts advanced financial analysis.
Ability to comprehend, analyze, and interpret complex documents.
Ability to solve problems involving several options in situations.
Requires advanced analytical and quantitative skills.
Advanced skills with Microsoft Office Suite.
Working knowledge in MS Project is helpful.
Knowledge with estimating software such as OST preferred.
Ability to read and understand architectural drawings.
Knowledge of leases, contracts, and construction practices preferred.
SCOPE OF RESPONSIBILITY Decisions made with thorough understanding of procedures, company policies, and business practices to achieve general results and deadlines.
Responsible for setting work unit and/or project deadlines.
Errors in judgment may cause short-term impact to department.
Department:
Accounting.
Estimated Salary: $20 to $28 per hour based on qualifications.
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