Senior Cost Specialist

Senior Cost Engineer (PMO Cost Specialist - Advanced)

At this level, a Senior Cost Engineer is responsible for independently applying requirements management, budgeting and cost control, financial management, change management, and benefits management, primarily within complex scenarios across P3M (Programme, Portfolio and Project Management). The role demands the ability to develop and agree scope and budgets for projects and/or programmes, and to control both forecast and actual costs against these budgets. This includes providing risk and opportunity analysis as well as managing changes effectively.

Key Responsibilities

• Develop, implement and maintain Project Baseline Budgets, including Control Account Plans, Responsibility Assignment Matrix, and Work Breakdown Structure (WBS) Dictionary (Scope of Work).
• Monitor, control and validate project accruals and commitments, alongside resource and financial forecast data.
• Manage and control cost risk budgets and drawdowns, contributing to the risk management process.
• Oversee financial change management within projects, ensuring alignment with business and contractual requirements.
• Provide comprehensive internal and external financial performance and cost reports, including earned value and variation analysis.

Additional Key Accountabilities

• Ensure cost management aligns closely with project schedules and contracts.
• Maintain cost elements accurately within the ERP system.
• Act as the primary point of contact for clients and project accountants regarding financial budgets and change control.
• Develop internal Cost Breakdown Structures (CBS) and Control Accounts aligned with scope, contract, and WBS.
• Provide cost management support during bid and project initiation phases to ensure correct project setup and initiation.
• Ensure cost management processes align with estimates and the overall estimating strategy.

Company and Industry Knowledge

• Extensive experience applying budgeting and cost control within complex environments.
• Recent and relevant experience within a similar sector or business environment.
• Familiarity with various contracting methodologies, including FIDIC, NEC3-4, JCT, and experience resolving claims and disputes.
• Previous supervisory or line management experience in cost estimating, cost engineering, or project controls.
• Advanced knowledge of cost management techniques and Earned Value Management.
• Proficient in advanced estimating and quantity surveying.
• Experience in quantitative risk analysis.
• Full project lifecycle experience, from bid phase through to project close-out.

Qualifications

• HNC level qualification (or equivalent) in cost engineering or quantity surveying.
• Ideally, a bachelor’s degree in engineering, project management, construction management, or a related discipline.
• ECITB QCF Level 5 Diploma in Cost Engineering (Cost Control).
• Professional qualification and membership, for example APM, Acoste, RICS (or equivalent).