Senior Cost Manager / Director

MalaceHR is seeking an experienced Senior Cost Manager / Director to support complex construction and real estate projects in the Chicago market.

This senior-level position is focused heavily on cost management and project controls , with responsibility for managing project costs through both pre-contract and post-contract phases. The ideal candidate will bring at least 10 years of experience in cost management, estimating, quantity surveying, project controls, or a closely related construction discipline.

This role will support multiple projects simultaneously and will require a strong understanding of construction methods, procurement, estimating, budgeting, risk management, change management, and project financial controls.

The successful candidate must also be highly client-facing and capable of delivering a polished, white-glove level of service to senior stakeholders. The position is expected to begin without direct reports but may evolve into a broader team leadership role as the program grows.

Key Responsibilities

• Lead cost management and project controls activities across multiple concurrent construction projects.

• Manage project costs throughout both pre-contract and post-contract phases .

• Prepare detailed construction and project cost estimates from conceptual design through final construction documents.

• Develop and maintain project budgets, cost plans, forecasts, cash flow projections, contingencies, and financial reports.

• Perform conceptual estimating and AACE Level 1–5 cost evaluations .

• Review drawings, specifications, scopes of work, and project documentation to develop accurate cost assessments.

• Analyze and communicate current market pricing for labor, materials, equipment, and subcontractor services.

• Utilize historical project data, published cost information, benchmarking tools, and market studies to support estimates and forecasts.

• Provide value engineering analysis and design option reviews.

• Identify opportunities to improve project value and control costs without compromising scope, quality, or performance.

• Support procurement and tendering activities, including bid leveling, bid analysis, commercial evaluations, and contractor reconciliations.

• Review contractor and subcontractor estimates, proposals, pricing, and qualifications.

• Participate in contractor negotiations and commercial discussions.

• Review change orders and assess proposed changes for scope alignment, cost impact, and overall project implications.

• Support formal change management processes throughout the project lifecycle.

• Track commitments, expenditures, forecasts, allowances, contingencies, and overall project financial performance.

• Identify risks that may affect cost, schedule, scope, or project delivery.

• Develop and monitor appropriate risk mitigation strategies.

• Coordinate with project managers, architects, engineers, contractors, consultants, and client stakeholders to gather accurate project information.

• Prepare detailed project cost reports, forecasts, and executive-level updates.

• Present cost information, recommendations, and project status to internal and external stakeholders.

• Conduct periodic project controls reviews and audits to identify deviations from established processes.

• Identify budget variances and recommend corrective actions.

• Support project teams in implementing lessons learned and cost management best practices.

• Stay current on construction market conditions, escalation trends, industry practices, and emerging project controls methodologies.

• Apply subject matter expertise to improve cost management processes, tools, reporting, and overall service delivery.

• Maintain and strengthen client relationships through proactive, clear, and professional communication.

• Navigate complex or sensitive conversations regarding budget, project changes, contractor performance, and commercial matters.

• Provide a highly responsive, customer-focused level of service.

• Support and mentor team members as the organization grows.

• Contribute to identifying and attracting strong cost management and project controls talent.

• Support business development efforts and the cultivation of existing and prospective client relationships as needed.

Required Qualifications

• Bachelor’s degree from an accredited institution, preferably in:

  • Quantity Surveying

  • Construction Management

  • Architecture

  • Engineering

  • Real Estate

  • Related field

• 10+ years of experience as a Cost Manager, Senior Cost Manager, Estimator, Quantity Surveyor, Project Controls professional, or similar construction-focused role.

• Extensive experience managing projects through both pre-contract and post-contract phases .

• Strong background in construction cost management and estimating.

• Strong understanding of construction methods, sequencing, labor, materials, equipment, and project delivery.

• Ability to independently prepare and review detailed and conceptual construction estimates.

• Experience developing and maintaining project budgets, cost plans, and forecasts.

• Ability to perform AACE Level 1–5 cost evaluations.

• Experience with procurement, tendering, bid analysis, contractor negotiations, and commercial reconciliation.

• Experience reviewing contractor pricing, subcontractor pricing, and change orders.

• Strong understanding of project cost forecasting, change management, risk management, and financial reporting.

• Ability to evaluate incomplete or evolving design information and appropriately qualify assumptions and unknowns.

• Strong analytical, organizational, and problem-solving skills.

• Ability to manage multiple large or complex projects simultaneously.

• Excellent written and verbal communication skills.

• Strong executive-level client-facing and stakeholder-management capabilities.

• Ability to provide a professional, white-glove customer experience.

• Ability to work effectively in a fast-paced, deadline-driven environment.

• Ability and willingness to travel as required.

• Must be a U.S. Citizen due to client requirements.

Preferred Qualifications

• Professional certification such as AACE, RICS, PMP, or similar industry credential .

• Experience using CostX, On-Screen Takeoff , or comparable estimating and quantity takeoff software.

• Experience utilizing construction cost databases and benchmarking tools.

• Experience supporting large-scale commercial real estate, capital improvement, industrial, or complex construction programs.

• Previous leadership, mentoring, or team-development experience.

• Experience producing market intelligence, case studies, benchmarking reports, or other client-facing cost management deliverables.