Project Cost Engineer

Venn Group

Project Cost Engineer

Recruitment Agency Reference: 7015770

Location: Devonport

Rate: Depending on Experience

12 months +

Candidates must satisfy security criteria  

Several positions have arisen for a Project Cost Engineer to be professionally accountable to the Head of Cost Control, working on projects that are diverse and encompass mechanical, electrical and civil elements across the full EPCM lifecycle.

Your duties will include:

• Assist with developing the project cost control strategy, plans and procedures, reflecting both the company and contractor roles/responsibilities

• Understand how the contract type used (i.e. target price, fixed price etc.) can affect the total project cost

• Coordinate development and implementation of project WBS and CBS in concert with the Project Manager and Project Planner

• Participate in the development of project execution plans, estimates and studies within a project stage and for sanction

• Coordinate and develop appropriate control budgets consistent with project estimate and WBS / CBS

• Ensure that all project costs are captured; data gathering for reporting and analysis purposes

• Prepare ACWP and Estimate at Completion / Anticipated Final Cost (EAC / AFC) analysis report for projects, in line with Budgeted Cost of Work Performed (BCWP) forecast

• Prepare monthly project performance reports

• Collect and compile progress and cost data, and develop cost-control worksheets and reports for review by delivery teams

• As part of the project close-out procedure, provide data to the Cost Estimators to assist with analysis of project costs (post final account); for future benchmarking

• Review financial data related to accruals, invoice payments, purchase orders and material deliveries and other financial data

• Liaise with Cost Estimator regarding valuation of compensation events, reconciliation with budget at a lower level than CBS and any changes in contract prices or baseline estimates

• Link risk process to change process and estimate; provide cost input to and implement the cost element of the risk management plan

• Coordinate and develop project work-in-progress (WIP), commitment and estimate at complete (EAC) forecasts

• Coordinate and develop project annual-spend projections, cost reconciliations and variance analyses

• Assist and prepare cost performance management data; ensuring that the correct accounting codes are applied to the ACWP, consistent with the CBS

• Prepare and implement project-wide cost measurement and reporting system, including roll-up levels and reporting cycle calendar

• Develop cost and financial elements of project closeout plan

The successful candidate should have:

• The candidate will have 5+ years’ experience in applying budgeting and cost control techniques within a complex environment

• Ideally a bachelor's degree in engineering / project / construction management or a related field

• A postgraduate qualification is also desirable, as is membership in a professional body

• Awareness of various contracting methodologies (e.g. FIDIC/NEC3/JCT, etc.)

• Advanced knowledge of cost management techniques

• Have intermediate to advanced Excel skills, good knowledge of MS Office and ERP systems (experience utilising IFS is an asset)

• Have an professional qualification (e.g. APM/Acoste/RICS) (or equivalent)

• Have excellent stakeholder management and communication skills (written and oral) and a good understanding of Project Management principles and methodologies

• Experience within the Naval Marine Industry, or other highly regulated industry (but not essential)

• Degree/HNC or equivalent level in an Engineering/Technical Subject, or as determined by the Nuclear Facilities PMO Manager and Head of Cost Control

• APM-PMP

Venn Group is an equal opportunities employment business and employment agency and welcomes applications from all candidates.