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Cost Management Specialist
2 months ago
Position: Cost Management Specialist
About the Role:
The Cost Management Specialist will assist the Capital Investment Finance Manager in overseeing project expenses and contract oversight. This role encompasses a comprehensive suite of professional cost management services aimed at facilitating the effective planning and execution of property investment and revitalization initiatives.
Key responsibilities include generating precise forecasts and budget details aligned with financial standards. Collaborating with various teams to ensure financial directives are comprehended and adhered to is essential. The role also involves providing information access and aiding in the training and development of team members.
Engagement with finance partners is crucial to deliver timely financial management insights, enabling consistent and accurate expenditure reporting.
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Key Responsibilities:
- Deliver feasibility cost assessments for upcoming projects based on both internal and external financial data.
- Collaborate with project leaders to oversee project expenditures, authorize changes, and assess valuations. Offer value engineering recommendations for projects exceeding budget expectations.
- Assist Programme Managers with financial guidance in executing the Capital Works Investment program and regeneration initiatives.
- Provide technical financial support during tender preparations, including the development of cost matrices.
- Advise on optimal contract procurement strategies. Aid in the formulation and assessment of new framework agreements, including the appointment and management of contracts, ensuring compliance with financial constraints.
- Utilize expertise to recommend suitable contract forms prior to project tendering. Prepare contract-specific preliminaries using relevant software.
- Conduct financial tender evaluations and generate reports with recommendations for contractor appointments or value engineering opportunities.
- Prepare and manage contract documentation, ensuring proper execution and distribution to successful bidders. Support team members in contract management utilizing various contract forms.
- Oversee cost management for each contract to ensure final accounts remain within budget. Promptly address any performance issues as necessary.
- Act as Contracts Administrator, managing all facets of contract oversight, including valuation approvals, time extension requests, and final account certifications.
- Supervise and evaluate the contract administration and cost consultancy services provided by external consultants. Conduct financial audits on ongoing projects and final accounts as needed.
- Carry out contract valuations with assistance from the Project Surveyor, including site inspections and measurements. Provide advice on variation costs and budget impacts. Issue payment and other relevant certificates.
- Enhance the financial management capabilities of the Contract Management team through coaching and support.
- Lead and guide on the appropriate actions regarding contractual disputes, seeking legal advice as necessary and assessing risks to determine the best defense strategy.
- Participate in contractor progress meetings, ensuring all required actions are executed.
- Contribute to the annual budget planning process.
- Communicate effectively with customers and stakeholders, ensuring all inquiries and complaints are addressed in accordance with organizational policies.
- Provide necessary data and information as requested.
- Collaborate with colleagues and stakeholders across the organization.
- Adhere to health and safety policies and procedures in all aspects of work.
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For more detailed information about the role, please refer to the attached role profile.
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Your Benefits:
At Newport City Homes, we value our employees and strive to create a rewarding work environment. Our comprehensive benefits package includes:
- Pension Scheme: Options include a defined contribution scheme and a defined benefit scheme with generous employer contributions.
- Annual Leave: Starting with 25 days of annual leave plus bank holidays, increasing to 30 days after three years of service.
- Agile Working Policy: Emphasizing flexibility in work arrangements.
- Health and Wellbeing Initiatives: Programs such as Cycle to Work, enhanced parental leave, and sabbatical options.
- Professional Development: Opportunities for career growth, including support for professional memberships and sponsored study.
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About Newport City Homes:
Newport City Homes is committed to fostering an inclusive and equitable work environment. We aim to provide exceptional customer experiences while developing our communities and homes. Our strategic commitments guide our decision-making to ensure optimal resource utilization and positive impact.
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Our Values:
- Active: We take initiative and strive for excellence.
- Collaborative: We build trust with customers and colleagues.
- Inclusive: We celebrate diversity and embrace different perspectives.
- Trusted: Together, we achieve greatness.
Newport City Homes is an equal opportunities employer and welcomes applications from all community sectors.
