Senior Principal Estimator at McDermott International, Ltd

Job Overview:

The Senior Principal Estimator is tasked with solving unique and complex problems that broadly impact the business. They must proactively identify and solve the most complex problems that impact the management and direction of the business. The Senior Principal Estimator is considered a specialist in estimating and offers a broad knowledge base about the Estimating function. The Senior Principal Estimator impacts the direction and resource allocation of projects in their discipline and works within general functional policies and industry guidelines. The Senior Principal Estimator role requires conceptual and innovative thinking to develop creative solutions to estimating challenges. 

Responsibilities

Key Tasks and Responsibilities:

• Provide guidance and leadership to the Functional Estimators and Benchmark Estimators
• Ensure that the estimates produced are of the highest quality and technically compliant
• Support and assist the Estimating Manager
• Work with the proposal team to prepare estimates and bids for clients  
• Attend all tender-related meetings  
• Understand the proposal requirements and direct attention to those areas that appear inconsistent or contain a high-risk element  
• Read the technical documents to prepare a proper estimate  
• Gather information and input from functions with support from the project manager  
• Consult with Subject Matter Experts to discuss estimates and resolve issues
• Create an Estimate with available benchmarks and from experience before receiving the inputs from functions and evaluate the estimates received from functions against the internal estimate
• Give regular updates to the department manager/immediate supervisor and highlight any concerns about anything that might potentially jeopardize submitting a competitive proposal  
• Analyze the cost components that are critical/crucial and seek quotes for only those items. Other items to be costed internally
• Attend and participate in Bid review meetings, estimate evaluation meetings, Risk assessment meetings, etc.
• Analyze and comment on the execution plans of the project  
• Prepare a comprehensive Basis of Estimate (BOE) to be discussed and reviewed with managers
• Accurately predict the cost, size, and duration of future Projects is vital to the survival of businesses
• Analyze many inputs to determine how much time, money, and labor a project needs and how profitable it will be, consider several factors, including allowances for wasted material, bad weather, shipping delays, and other factors that can increase costs and lower profitability
• Utilize the support of the benchmarking team by analyzing information on the costs from other similar projects and preparing the relevant benchmark report
• Assure that the estimate is:  
  • Completed promptly  
  • Cognizant of the Bid ‘Win Strategy’  
  • Accurate, free of errors, omission, or hidden contingency  
  • In line with the agreed execution plan  
  • Evaluate and recommend ways to be more cost-effective or profitable  

Qualifications

Essential Qualifications and Education:

• Bachelor’s degree in Engineering is a plus
• 10+ years of cost-estimating experience in the Oil and Gas & Energy industry
• Cost estimation experience, preferably in the Oil & Gas industry at a Senior or Supervisory level
• Willingness to work overtime as necessary to meet deadlines
• Intermediate/advanced level in MS Office systems, e.g., Excel, Word, PowerPoint
• Accurately evaluate detailed specifications that are crucial to a cost estimator’s success
• Must pay attention to small details because such details may have a significant impact on a product’s overall cost
• Must plan their work and work efficiently and accurately
• Must be able to write detailed reports to determine the management decision on the Project Controls approach