Project Cost Analyst

4 weeks ago

Aberdeen, Aberdeen City, United Kingdom Wood PLC Full time
JOB DESCRIPTION

Job Objective:

The role involves the formulation and reporting of project financial plans, alongside the monitoring, management, and reporting of project expenditures to ensure effective oversight of projects throughout their duration. This position supports senior members of the cost management team by preparing and delivering project financial plans, ensuring that budgets and reports are created with the necessary detail and precision in line with contractual obligations and Wood's policies, procedures, and standards. This typically includes the evaluation, analysis, and reporting of actual and projected project costs against the approved financial plan.

RESPONSIBILITIES

Key Accountabilities & Responsibilities:

  • Assist in the creation and upkeep of Project Work Breakdown Structure (WBS) and Cost Breakdown Structure (CBS) for designated scopes
  • Collaborate with other Project Controls disciplines and functions, aiding in the formulation of project budgets in accordance with the Basis of Estimate, which includes statements of work scope, assumptions, labor estimates, narratives, and reviewing client documentation
  • Engage with procurement, finance, and time-tracking functions, as well as third parties as necessary, to ensure the precise and timely capture of procurement, materials, subcontract, and labor costs. Ensure costs are allocated accurately in line with the approved project WBS
  • Coordinate with engineering, procurement, and construction teams, and others as needed, to stay informed about project activities and their implications on the project budget, schedule, and cost forecast
  • Facilitate and manage the project work approval process regarding accurate cost code allocation and initial budget establishment and approvals
  • Assist in the development and maintenance of project financial plans using suitable software applications
  • Oversee and control cost commitments and expenditures throughout all phases of the project lifecycle
  • Collaborate with planning teams as necessary to ensure accuracy in project cost phasing and forecasting
  • Prepare and deliver project cost performance reports in accordance with project reporting requirements
  • Update project cost forecasts as needed
  • Monitor and report on the cost implications of project labor forecasts
  • Develop and issue project change orders/variations in accordance with engineering and construction change notifications
  • Facilitate and communicate the cost and schedule implications of change notifications
  • Monitor overall project cost performance and contingency utilization
  • Participate in project meetings as required
  • Engage in the project cost close-out process
  • Attend cost and estimate risk analysis sessions as necessary
  • Participate in Project Controls Compliance and Continuous Improvement Reviews
QUALIFICATIONS

Qualifications:
  • Typically requires ISCED level 6 (Bachelors) Degree in a relevant technical or business discipline (or equivalent gained through relevant vocational training and/or industry experience)
Knowledge, skills and experience:
  • Fundamental knowledge of cost management software and related principles, tools, and techniques including budgeting, forecasting, and cash-flow management
  • Basic understanding of Project Execution Procedures for Cost Management including Change Management
  • Basic comprehension of WBS & CBS structures and project reporting capabilities
  • Basic ability to formulate project financial plans and change estimates
  • Basic ability to generate cost reports
  • Basic understanding of change management and associated cost and schedule processes
  • Understanding of earned value application, cost and schedule variance analyses/trending, and scenario analysis
  • Familiarity with project management principles and techniques
  • Understanding of Cost Management, Change Control, Planning & Risk Analysis & Management
Personal Attributes:
  • Demonstrates commitment to Wood Values, Visions & Behaviours
  • Applies analytical and statistical analysis
  • Ability to work independently and collaboratively within a team
  • Exhibits effective organization & planning skills
  • Ability to manage multiple tasks and shifting priorities in a dynamic environment
  • Strong communication skills, both written and verbal
  • Utilizes initiative and a proactive approach to problem-solving
  • Commitment to continuous improvement
ABOUT US

Wood is a global leader in consulting and engineering, helping to unlock solutions to critical challenges in energy and materials markets. We provide consulting, projects, and operations solutions in 60 countries, employing around 35,000 people.

Diversity Statement

We are an equal opportunity employer that recognizes the value of a diverse workforce. All suitably qualified applicants will receive consideration for employment based on objective criteria and without regard to race, color, age, religion, gender, national origin, disability, sexual orientation, gender identity, protected veteran status, or other characteristics in accordance with the relevant governing laws.

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