The purpose of this position is the responsibility for individual multi-disciplined real estate cost solutions for clients with direct or indirect accountability for cost delivery.
Characteristics of responsible costs: Complexity: Medium Risk: Medium-High Duration: Long term [months to year(s)] Value: Typically >$2 Million USD Region: Regional LMA and/or National GWS Account
ESSENTIAL DUTIES AND RESPONSIBILITIES
Manages all facets of cost management (budget, schedule, procurement, quality & risk) for individual real estate projects or programs throughout planning, design, construction, occupancy and closeout.
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.
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.
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.
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.
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.
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 CBRE 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.
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.
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.
Manages 3rd party cost delivery resources/team at both the project level or regional level. 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.
Provides 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.
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 5 years of related experience and/or training.
CERTIFICATES and/or LICENSES
RICS (Royal Institute of Chartered Surveyors) or CIOB (Chartered Institute of Building) accreditation preferred.
PMP (US and/or Canada) and LEED AP preferred.
Ability to comprehend, analyze, and interpret business documents. Ability to respond effectively to the most sensitive issues. 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.
Requires general knowledge of financial terms and principles. Ability to calculate complex figures. Ability to forecast and prepare budgets. Conducts financial/business analysis including the preparation of reports.
Ability 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 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 in-depth understanding and interpretation of procedures, company policies and business practices to achieve general results. Responsible for setting department deadlines. Errors in judgment may cause long-term impact to co-workers, supervisor, department and/or line of business.
Internal Number: 21010941
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.