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Project Cost Engineer

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  • Location

    Plymouth, Devon

  • Sector:

    Aerospace and Defence, Security Cleared

  • Job type:


  • Salary:


  • Contact:

    Louise Wardle

  • Contact email:

  • Job ref:


  • Published:

    7 days ago

  • Duration:

    12 months

  • Expiry date:


  • Start date:

    April 2021

Project Cost Engineer required to be accountable for the delivery of a high quality project and programme cost engineering services across Nuclear Facilities. The projects are diverse and encompass mechanical, electrical and civil elements across the full EPCM lifecycle.

The role involves but is not limited to teh following:

The Nuclear Facilities Project Cost Engineer shall be professionally accountable to the Head of Cost Control (Submarines). Day-to-day functional management will be via the local project team.
Key elements of the post include
* Maintain a safety first approach in all projects/programme activities and foster the company safety culture.
* Assist with developing the project cost control strategy, plans and procedures, reflecting both company and contractor roles and 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.
* Participate in the development of 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.
* Provide cost input to closeout process.
* 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.
* Coordinate preparation of cost risk analysis.
* 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.
* Provide cost input to and implement the cost element of change management procedures.
* 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 and issue various reports to appropriate stakeholders.
* Develop cost and financial elements of project closeout plan.
* Work with key account finance manager and finance function to ensure adequate financial controls.

Required Knowledge, Skills, Experience and Competences
* The candidate will have 5+ years experience in applying budgeting and cost control techniques within a complex environment.
* Ideally a bachelors 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 (eg 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 (eg 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.

Recognising the RESTRICTED nature of the work, suitable candidates will be SC cleared or eligible for this level of clearance.

Candidates without experience in applying budgeting and cost control techniques within a complex environment and advanced knowledge of cost management techniques will not be considered.

Due to the volume of CVs received if you have not had a response within 48 hours please take it that your application will not be progressed but please feel free to visit our website to view other roles.

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