Cost Analyst

JOB SUMMARY

Provide project manager, project control director and lead engineers with the information and assistance needed to manage the project execution in compliance with the objectives of the cost and revenue budgets and standards in terms of project cost control. In addition to cost control services at the project level a Cost Analyst is an experienced individual with knowledge of cost control principles and best practices and procedures. They possess skills in the use of technology and software related to cost control. A cost analyst shall possess the skills and experience to work independently. Responsible for look-ahead forecasting and trend analysis, monitor commitments, budgets, invoicing, cash flow forecast, and report preparation for EPCM projects. Constantly interface with the disciplines involved in the project execution.

DUTIES AND RESPONSIBILTIES OF THE JOB

• Development and distribution of the project specific cost control plans.


• Support project managers in the development of project budgets.


• Maintenance of project budget information.


• Supports proposal managers and estimators in the development of proposal pricing.


• Provides updated cost reports which show the baseline budget and forecast against the baseline budget, as well as commitments, change orders, actual costs, estimate to complete and estimate at completion.


• Review and updating of cost coding and allocations.


• Generation and distribution of the internal project cost reports.


• Generation of the client cost reports.


•  Assess manpower requirements and determine estimated durations for the tasks.


•  Examine records such as time, payrolls, operations charts and schedules to obtain data for Estimate to Complete (ETC) calculations.


• Prepare weekly/bi-weekly/monthly project updates including written narrative and custom reports as needed on a project-by-project basis.


• Reconciliation of project cost reporting with accounting and financial records.


• Analyzes and reports cost variances to budget.


• Maintains a change log that tracks change order requests, approved change orders, change description, reason, cost impact, schedule impact, and cumulative impact on total project cost.


• Help prepare change order requests.


• Prepares and maintains project registers for issues, risks, decisions, action items, and lessons learned.


• Prepares and distributes project meeting notes. 


• Ensures contractual requirements for project controls deliverables are met.


• Review client invoices for accuracy and completeness.


• Duty to alert and report any significant movement expected in the forecast.


• Confers with Client and Company management to determine status of projects.


• Strong analytical skills that will allow proper assessments of projects to identify potential performance issues.  In addition, be able to support development and recommend solutions via communication and support with Project Management.


• Understands the workflows and processes for engineering, design, and construction for the services.


• Supports proposal development.


• Communicate with subcontractors and suppliers to issue statement of work (purchase orders).


• Track subcontractor/vendor invoices and commitments.


• Conform to shifting priorities, demands, and timelines through analytical and problem-solving capabilities.


• Must pay strong attention to detail-oriented work and be able to work with a high volume of documents in a fast-paced environment.


• Must be highly organized and process-oriented, excellent oral and written communications skills to interact with all levels of an organization, excellent listening skills, and be able to manage multiple requests while detailing document activity.


• Be self-auditing and have high quality standards, often working in a fast-paced and deadline driven environment.

EXPERIENCE REQUIREMENTS

• Minimum five years of professional experience.


• At least 2 years of cost control/project controls experience.


• Technical/project exposure in an engineering environment.


• Knowledge of common contract pricing types, e.g. fixed-price, time and materials, lump sum


• Finance and accounting knowledge


• Experience in preparing estimates in accordance with American Association of Cost Engineers Recommended Practice No. 18R-97, “Cost Estimate Classification System – As Applied in Engineering, Procurement, and Construction for the Process Industries”


•  High level of analytical thinking skills to plan and forecast work.


•  Power Bi proficiency preferred.


• Primavera P6 proficiency a plus


• Advance MS Excel capabilities


• Excellent verbal and written communications skills


• Ability to work independently


• Detail oriented, with strong ability to maintain financial record-keeping sufficient to address project audit


• Computer knowledge of Microsoft suite

EDUCATION REQUIREMENTS

• Bachelors Engineering or Associates Degree in Management, Construction Management, or other Technical Degrees preferred.

PHYSICAL REQUIREMENT ESSENTIAL TO PERFORM THE FUNCTIONS OF THE JOB

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of the job.  Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

• May be required to lift up to 30 lbs. If object is over 30 lbs. you are required to have written permission from your supervisor prior to lifting or moving the object.


• Frequent use of auditory, verbal and visual capabilities in order to adequately communicate via phone, computer and in person.


• Frequent sitting for extended periods of time to carry out administrative functions.


• Frequent concentration for extended periods of time, paying attention to detail to analyze information.


• Frequent use of hands to operate the computer or office equipment.