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Senior Cost Manager

Company: CBRE
Location: Dumont
Posted on: January 27, 2023

Job Description:

Senior Cost ManagerJob ID95381Posted18-Nov-2022Service lineGWS SegmentRole typeFull-timeAreas of InterestConstruction, Consulting, Data & Analytics, Design, Development, Project Management, Purchasing/Procurement, Quantity Surveying , Risk ManagementLocation(s)Astoria - New York - United States of America, Atlantic City - New Jersey - United States of America, Bloomfield - New Jersey - United States of America, Bridgeton - New Jersey - United States of America, Bridgewater - New Jersey - United States of America, Bronx - New York - United States of America, Camden - New Jersey - United States of America, Carteret - New Jersey - United States of America, Cherry Hill - New Jersey - United States of America, Cranford - New Jersey - United States of America, Delran - new Jersey - United States of America, Dover - New Jersey - United States of America, Dumont - New Jersey - United States of America, East Brunswick - New Jersey - United States of America, East Hanover - New Jersey - United States of America, East Hartford - Connecticut - United States of America, East Orange - New Jersey - United States of America, East Rutherford - New Jersey - United States of America, Edison - New Jersey - United States of America, Elizabeth - New Jersey - United States of America, Elmwood Park - New Jersey - United States of America, Ewing - New Jersey - United States of America, Fair Lawn - New Jersey - United States of America, Fairfield - new Jersey - United States of America, Florham Park - New Jersey - United States of America, Franklin Lakes - new Jersey - United States of America, Garfield - New Jersey - United States of America, Glassboro - New Jersey - United States of America, Hackensack - New Jersey - United States of America, Hamilton - new Jersey - United States of America, Harlem - New York - United States of America, Hartford - Connecticut - United States of America, Hoboken - New Jersey - United States of America, Iselin - New Jersey - United States of America, Kenilworth - New Jersey - United States of America, Lakewood Township - new Jersey - United States of America, Lawrence Township - New Jersey - United States of America, Linden - New Jersey - United States of America, Linwood - new Jersey - United States of America, Long Branch - New Jersey - United States of America, Long Island - New York - United States of America, Long Island City - New York - United States of America, Madison - New Jersey - United States of America, Manhattan - New York - United States of America, New Hartford - New York - United States of America, New York City - New York - United States of America, Newark - New Jersey - United States of America, North Stamford - Connecticut - United States of America, Pennington - new Jersey - United States of America, Queens - New York - United States of America, Queens Village - New York - United States of America, Saddle Brook - New Jersey - United States of America, Stamford - Connecticut - United States of America, Staten Island - New York - United States of America, The Bronx - New York - United States of America, West Hartford - Connecticut - United States of America, White Plains - New York - United States of AmericaCBRE is seeking a Senior Cost Manager with preconstruction estimating and management or leadership experience to lead manage and oversee staff responsible for managing all facets of cost management for our clients throughout the Tristate area (CT, NJ and NY).JOB SUMMARYThe purpose of this position is to manage and lead overall cost management functions as well as staff responsible for individual multi-disciplined real estate cost solutions for clients with direct accountability for cost delivery.This is not a remote role; the selected Senior Cost Manager will be required to report to the office in New York City 2-3 days per week.ESSENTIAL DUTIES AND RESPONSIBILITIESManages all facets of cost management (budget, schedule, procurement, quality & risk) for individual realestate 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 an estimator to produce costing of greater detail; incorporate estimator into project team - manage performance of estimating tasks/deliverables. Advise on market conditions.Provide assistance with the review of documentation from a Cost Management perspective in so far as it relates to design, specification of the work.Prepare a revised cost estimate on completion of all key design stages and compare to the project budget, with report and recommended actions on any variances.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.Assist the Project Managers in the preparation and issuance of RFPs for the appointment of the Construction Manager, consultants, and vendors. Review, in conjunction with Project Manager, proposals obtained by the Client and Project Manager for the Construction Manager, consultants and vendors, attend interviews as required, providing financial leveling and analysis.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.Liaise with the project team as necessary, providing cost and local market benchmarking information as necessary.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 CBRE 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.Provide information as may be required by the client to assist in meeting the Schedule and advise on alternative procurement options.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 CBRE 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.Maintain a Value Management / Value Engineering log. Coordinate with Client and Project Manager Value engineering / cost meetings with the design team, chair and issue minutes and action lists. All required follow ups to the Value engineering log.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.Agree with the Client and Project Manager Change control procedures. Review and advise on potential cost impacts of Client changes.Assist the Client and design team with life cycle costing of LEED/sustainability initiatives (as appropriate).Review all invoices from consultants, vendors, and in coordination with the Project Manager, against cost plan; provide valuation services and signoff to project team (subject to CBRE approval limits) in collaboration with team members charged with validation work has been completed to required scope and level of quality. Make recommendations for payment.Review and approve all requests to apply costs toward allowances, contingencies and reserves; update cost plan accordingly.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 CBRE approval limits); close all funding approvals in accounting systems (purchase orders).Capture project costs for contribution to CBRE cost benchmarking/estimating databases and tools.Facilitate and oversee the administration of tasks required by the lease to collect landlord contributions/tenant improvement allowances.Maintain records for all documents received and issued in connection with the project. Coordinate with the Clients insurance advisers and advise on construction related insurance. Assist the Client in the preparation, submission, and negotiation of Insurance claims.Review with Client and Clients legal / Insurance advisers requirements for:

  • OCIP / CCIP
  • Sub Guard
  • Bonds
  • Warranties
  • Builders RiskCoordinate with Clients Taxation accountants and provide costs in the appropriate format and detail (Cost segregation).Evaluate Construction Manager, Consultant and Vendors claims and change order submissions, negotiate and make recommendations for acceptance.Prepare regular/monthly and milestone cost reports. Advise the Client on any decisions required and obtain authorization. (Cost report for Full Project costs).Attend regular meetings with the Client and other members of the Clients project team on any matters that impact costs. Attend Weekly project meetings, Design meetings and Client Presentations, and other meetings that have agenda items relating to project cost.Track / Monitor and advise the Client on likely costs to be incurred from: Errors and omissions. LEED / Other Sustainability programs. Compliance with the Clients Budget.Visit the site, and in conjunction with the design team, advise the Client on any factors likely to affect cost, time and method of implementation.Manages 3rd party project delivery resources/team. Responsible for identifying training needs, tracking performance, coaching, and motivating team members.Responsible for ensuring 3rd parties deliver all procured services and deliverables and escalating as appropriate. Suggest and implement contractual adjustments as appropriate; implement project or account specific performance management solutions.Other duties as assigned.SUPERVISORY RESPONSIBILITIESProvides formal supervision to individual employees within single functional or operational area. Approves subordinate's recommendations for staff recruitment, selection, promotion, advancement, corrective action and termination. Effectively recommends same for direct reports to next level management for review and approval. Plans and monitors appropriate staffing levels and utilization of labor, including overtime. Prepares and delivers performance appraisal for staff.Mentors and coaches team members to further develop competencies. Leads by example and models behaviors that are consistent with the company's values.Where applicable, provide tools, processes and training to ensure all team members provide cost management services consistently across a project, program or geography. Proactively seek opportunities to improve delivery of services; adjust as needed.Prior experience in a supervisory position (direct report responsibilities) is strongly desired for this role.QUALIFICATIONSTo 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 EXPERIENCEBachelor's degree (BA/BS/BEng/BArch) from College or University in a technical area of study.Minimum six years of related experience and/or training.Preconstruction estimating experience is highly desired.Experience working with Commercial projects is strongly preferred; corporate interiors experience is a plus.Proven successful experience working at a General Contractor or Construction Management Firm is a plus.Previous management/leadership experience is preferred.Ability to report to the office in New York City 2-3 days per week is required.COMMUNICATION SKILLSExcellent 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.Ability to write reports, manuals, speeches and articles using distinctive style. Ability to make effective and persuasive presentations on complex topics to employees, clients, top management and/or public groups. Ability to motivate and negotiate effectively with key employees, top management, and client groups to take desired action.FINANCIAL KNOWLEDGERequires in depth knowledge of financial terms and principles. Ability to calculate complex figures such as percentages, discounts, and commissions. Ability to forecast and prepare budgets. Conducts advanced financial analysis.REASONING ABILITYAbility to comprehend, analyze, and interpret complex documents. Ability to solve advanced problems and deal with a variety of options in complex situations. Requires advanced analytical and quantitative skills.OTHER SKILLS and ABILITIESAdvanced 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 RESPONSIBILITYDecisions madewith an in-depthunderstanding andinterpretation of procedures, company policies and business practices to achieve general results and deadlines. Responsible for setting work unit and project deadlines. Errors in judgment may cause long-term impact to co-workers, supervisor, department and/or line of business.New York Pay Disclaimer:CBRE carefully considers multiple factors to determine compensation, including a candidates education, training, and experience. The minimum salary for the Senior Cost Manager position is $110,000 annually and the maximum salary for the Senior Cost Manager position is $175,000 annually. The compensation that is offered to a successful candidate will depend on the candidates skills, qualifications, and experience. Successful candidates will also be eligible for a discretionary bonus based on CBREs applicable benefit program.CBRE is an equal opportunity/affirmative action employer with a long-standing commitment to providing equal employment opportunity to all qualified applicants regardless of race, color, religion, national origin, sex, sexual orientation, gender identity, pregnancy, age, citizenship, marital status, disability, veteran status, political belief, or any other basis protected by applicable law.NOTE: Some, but not all, of our positions may have an additional requirement to comply with COVID-19 health and safety protocols, including COVID-19 vaccination proof and/or rigorous testing. If you have questions about the requirement(s) for this position, please inform your Recruiter.CBRE, Inc. is an Equal Opportunity and Affirmative Action Employer (Women/Minorities/Persons with Disabilities/US Veterans)

Keywords: CBRE, Tenafly , Senior Cost Manager, Executive , Dumont, New Jersey

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