Given the growing competitive pressures, Cost Engineering (CE) has been ramped up across many sectors to create better cost transparency. Furthermore, CE also helps structure a firm’s approach to identifying and delivering additional savings potential with the shortest timeframe possible.
Established Cost Engineering is no longer fit for purpose
While the strategic value of the CE function remains unquestioned, many established operating models are no longer fit for purpose. The reason is straightforward: as the business changes, CE needs to change too, e.g., to support a faster time-to-market approach, comply with greater agility in development, cover technological change, and facilitate faster cost estimates.
Key trends define transformation needs and have implactions on cost engineering operating model
How we faced this challenge
- Deep-dive interviews to understand current and future business needs
- Benchmarked Cost Engineering setup versus global best practice organizations across industries
- Development of an aligned future vision and target operating model
- Definition of a transformation roadmap
- Support of the global roll-out via change management and dedicated expert trainings
Way forward for next level cost engineering
Global Cost Engineering capability fit for future!
The new operating model delivered substantial benefits for our client, i.e.
- Strategic capability GAPs understood, e.g. electronics, software, etc.
- Global Cost Engineering experts trained in new methodologies
- Global roll-out supported via training-on-the job
“Cost Engineering is a highly agile support function that enables business to perform better. Accordingly, the understanding on what drives business is key and drives the structure and capabilities of Cost Engineering.”
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