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Cost Management Specialist

2 months ago

Derby, Derby, United Kingdom Integral UK Full time

ROLE OVERVIEW

A Cost Management Specialist possesses extensive experience in overseeing all financial aspects related to Mechanical & Electrical engineering projects. This role may also encompass delivering commercial services within a Facilities Management and infrastructure context. The individual will collaborate with senior members of the commercial team to fulfill various commercial responsibilities for key clients, while also being accountable for sourcing and managing our supply chain. The primary objective is to minimize project costs and maximize value for money, ensuring that the required standards and quality are met for our clients. Typically, this role serves as a mentor for less experienced team members and may involve managing a small team of junior commercial staff.

KEY RESPONSIBILITIES

Governance
Demonstrates a solid understanding of and complies with the Company's Policies and Procedures, Integrated Management System (IMS), and other governance frameworks.

Analytical Skills & Decision Making
Systematically organizes information and verifies data accuracy.

Cost Management
Independently measures, records, and values work in accordance with established rules and procedures.
Collaborates with Project Managers and single-source contractors to identify cost-saving opportunities.

Estimating
Interprets specifications and drawings to create accurate estimates.
Develops estimates from first principles, including both net and gross calculations.
Translates measurements from drawings and specifications into Bills of Quantities and/or Schedules of Rates.
Provides input and commercial evaluation for potential tenders (Go/No-go assessments).

Planning
Reviews weekly and monthly work schedules.
Plans commercial activities to align with project timelines.
Understands delay and disruption management processes.

Project Oversight

Utilizes the company's project management system effectively.

Prepares, submits, and negotiates claims as necessary, including monthly valuations and final accounts.

Compiles cost and value data for monthly assessments.

Experienced in NEC3/4 contract management, including the issuance and management of Early Warning Notices, Risk Registers, and Compensation Events.

Monitors subcontractor activities, measures performance, and responds appropriately with relevant notifications.

Prepares cost reconciliation reports.

Identifies opportunities for savings and value engineering.

Procurement

Gathers necessary information to define procurement needs.

Records and documents information, including expressions of interest.

Understands the required steps and documentation for procurement processes.

Commercial Management

Engages in customer and stakeholder management within their area of responsibility.

Reviews contractual terms and conditions in line with company policies.

Manages cash flow through commercial processes related to debt recovery, retentions, and overall financial health.

Measures work completed and negotiates agreements with subcontractors, including placing sub-contract orders, valuing applications, and managing variations and final account settlements.

Maintains a Personal Development Plan.

Development, Recruitment, and Retention

Contributes to the professional growth of team members.

QUALIFICATIONS AND ATTRIBUTES

Essential qualifications include:

• BSc or MSc in Quantity Surveying or equivalent experience.

Desirable qualities/experience include:

• Strong communication skills with clients, internal teams, and the broader supply chain.

• Ability to work collaboratively in a team environment.

• Organizational skills to ensure work is accessible and well-documented.

• Focus on achieving results.

• Previous experience in commercial roles.

• Knowledge of the industry.