The
Engineering Economic Analyst is responsible for providing engineering economic assessment services as required to support the asset management program. The analyses include lifecycle cost and risk reduction evaluations as part of the capital project development process, analysis and revision of asset strategies, and other ad hoc analyses in support of the program’s goals. This position works within the asset management division with a great deal of autonomy and authority to develop processes for the economic analyses performed and managed by the position.
Essential Functions
- Researches and performs financial, economic, and cost benefit analysis to support the asset management program (i.e. long-range planning and triple bottom line-social, financial and environmental analysis)
- Performs engineering economics assessments of alternatives for business cases, provides recommendations on the best alternatives, and documents business cases based on these analyses
Uses assessments to compare products/equipment to establish the best time for renewal to determine the best renewal option, to evaluate programs of work such as condition monitoring programs, or changes to an annual maintenance program, to evaluate the introduction of new operations or maintenance strategy, or any other type of financial or economic assessment needed to support the implementation of the project validation process and asset management program
Reviews business case economic analysis by external consultants
Maintains and enhances business case tools
Responsible for the project prioritization process, which prioritizes projects included in the Capital Improvements Program (CIP) and Engineering Support Program (ESP)
Provides improvements on the prioritization process as needed
Leads and/or supports the asset strategy managers and other staff by helping in the design of empirical analysis required for engineering and operational economic analysis
Gathers data to support the economic modeling, program evaluation and cost benefit analysis
Configures analytic models such as cost benefit and business risk reduction models to assign and update equivalent monetary values to benefits and risks as required
Assists and prepares updates of the enterprise asset management plan
Other Functions
- Provides technical support to asset management division as required at executive team and other meetings
- Performs other related duties as required
Work Environment And Physical Demands
Work is performed in a standard office setting.
Required Knowledge, Skills, And Abilities
- Possession of technical and advanced knowledge of economics, analytical techniques, economic theory and methodology, statistical theory and methods including lifecycle costing and analysis of socio-economic costs
- Advanced financial analysis and spreadsheet skills
Ability to work with and provide services to a diverse group of clients
Ability to stay current with the leading tools and techniques required to support economic analysis and modeling
Ability to work collaboratively within a team and facilitate outcomes
Excellent written, oral communication, interpersonal and presentation skills
Minimum Education, Experience Requirements
- Bachelor’s degree
- 6+ years professional experience in engineering economics and financial research and analysis
OR
- High School diploma or equivalent
- 10+ years professional experience in engineering economics and financial research and analysis
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