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Cost Management Specialist

2 months ago

Derby, Derby, United Kingdom Integral UK Ltd Full time
ROLE OVERVIEW
A Cost Management Specialist possesses extensive experience in overseeing all financial aspects related to Mechanical & Electrical engineering projects. They may also have a background in providing commercial services within a Facilities Management and infrastructure context.

This role involves collaborating with senior members of the commercial team to fulfill various commercial responsibilities for key clients, alongside managing procurement and supply chain operations.

The specialist actively strives to reduce project costs while maximizing value for money, ensuring that the required standards and quality are met for our clients.

Typically, this position serves as a role model for less experienced team members and has the potential to lead a small group 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
Organizes information and systematically verifies data.
Cost Management
Independently measures, records, and values work in accordance with established rules and procedures.
Collaborates with project managers and contractors to identify value engineering opportunities.
Estimating
Interprets specifications and drawings accurately.
Develops estimates from first principles, including both net and gross calculations.
Translates measurements from drawings and specifications to prepare Bills of Quantities and/or Schedules of Rates.
Provides input and commercial evaluation for potential tenders (Go/No-go assessments, etc.).
Planning
Reviews weekly and monthly work schedules.
Plans commercial activities to align with project timelines.
Understands delay and disruption management.
Project Oversight
Utilizes the company's project management system.
Prepares, submits, and negotiates claims as necessary, including monthly valuations and final accounts.
Compiles cost and value information for monthly assessments.
Experienced in managing NEC3 contracts, including Early Warning Notices, Risk Registers, and Compensation Events.
Monitors subcontractor activities, measures performance, and responds appropriately with necessary notifications.
Prepares cost reconciliation statements.
Identifies opportunities for savings and value engineering.
Procurement
Gathers information to define procurement needs.
Records and documents relevant information, including expressions of interest.
Understands the necessary steps and documentation involved.
Commercial Management
Manages customer and stakeholder relationships within their area of responsibility.
Reviews contractual terms and conditions in line with company policies.

Financial Management:
Engages in commercial processes related to debt recovery, retentions, and cash flow management.
Measures work and negotiates agreements with subcontractors, including placing sub-contract orders, valuing applications, measuring variations, and final account settlements.
Maintains a Personal Development Plan.
Development, Recruitment, and Retention
Supports the growth and development of team members.
QUALIFICATIONS AND EXPERIENCE

Essential Qualifications:
  • BSc or MSc in Quantity Surveying or equivalent experience.

Desirable Qualities/Experience:
Communication:
Engages positively with clients, internal teams, and the broader supply chain.

  • Team Collaboration

Organization:
Ensures work is accessible to the project team and management, properly filed electronically for easy identification.

  • Results-Oriented
  • Previous Commercial Experience
  • Industry Knowledge