The purpose of this position is to lead individual multi-disciplined real estate cost solutions for our global client with direct accountability for cost management delivery.
Characteristics of responsible costs: Complexity: Medium Risk: Medium Duration: 1-2 years Region: Global GWS Account
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 and end to end process with required milestones and documentation. In collaboration with Finance, manage the capital planning budget process/season. Lead review sessions to assess rollover project capital, benchmarking and costs for new projects, understand budget creation best practices and partner with IT/AV/Security and other partners to help forecast and capture costs. Help create process for pricing non PJM scope activity and how to report on budget variances. Participate in data audits, data governance, budget reporting and compliance.
Support project management team to estimate costs associated with the lease (upfit, abatement, reinstatement, etc.) to optimize landlord contribution/tenant improvement allowances on behalf of the Client.
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. 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 CBRE policy yet flexible to adapt to client's needs/systems. Produce a quarterly financial true up. Partner with Finance to align on actuals and commitments.
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 maintain 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). Support new design guidelines relating to COVID, safety, MEP upgrades and produce pricing modeling on implementing day 2 safety items globally.
Review all invoices 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. Help manage cash flow and pending activity.
Review and approve all requests to apply costs toward allowances, contingencies and reserves; update cost plan accordingly. Help manage dedicated team labor allocations, variable project management fees and 3rd party fees on services. Work with Finance on capitalizing the teams labor.
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). Manage the project teams financial closeout checklist and audit.
Capture project costs for contribution to CBRE cost benchmarking/estimating databases and tools. Enhance cost calculator. Incorporate benchmarks and best practices into calculator.
Facilitate and oversee the administration of tasks required by the lease to collect landlord contributions/tenant improvement allowances. Manage the potential draw dates of TIA and lead monthly meeting with Lease Admin and Finance.
Manages 3rd party project delivery resources/team. Responsible for identifying training needs, tracking performance, coaching, and motivating team members.
Other duties as assigned.
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.
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
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. Minimum 2 years in cost consultancy. Minimum 2 years working with a global project management team.
CERTIFICATES and/or LICENSES
RICS (Royal Institute of Chartered Surveyors) or CIOB (Chartered Institute of Building) accreditation preferred.
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.
Requires general 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.
OTHER SKILLS and ABILITIES
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.
Internal Number: 20022580
With broader and deeper capabilities than any other company, CBRE is the leading full-service real estate services and investment organization in the world.
CBRE Group, Inc. is the world’s largest commercial real estate services and investment firm, with 2017 revenues of $14.2 billion and more than 80,000 employees (excluding affiliate offices). CBRE has been included in the Fortune 500 since 2008, ranking #214 in 2017. It also has been voted the industry’s top brand by the Lipsey Company for 17 consecutive years, and has been named one of Fortune’s “Most Admired Companies” in the real estate sector for six years in a row. Its shares trade on the New York Stock Exchange under the symbol “CBRE.”
CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.