SeniorCost Specialist

At this level, a Senior Cost Engineer (PMO Cost Specialist - Advanced) independently manages requirements, budgeting, cost control, financial oversight, change management, and benefits realisation—primarily within complex P3M environments. The role involves defining and agreeing project or programme scopes and budgets, while monitoring and controlling forecasts and actual costs. This includes analysing risks and opportunities within budgets and effectively managing changes.

Top 5 Key Responsibilities:
- Develop, implement, and maintain Project Baseline Budgets, including Control Account Plans, Responsibility Assignment Matrix, and WBS Dictionary (Scope of Work).
- Monitor, control, and validate project accruals and commitments, while overseeing resource and financial forecasts.
- Manage and control cost risk budgets and drawdowns, actively contributing to the risk management process.
- Oversee financial change management, ensuring alignment with business and contractual requirements.
- Prepare internal and external financial performance and cost reports, including earned value and variance analysis.

Additional Key Duties:
- Ensure cost management aligns with project schedules and contracts.
- Maintain cost elements within the ERP system.
- Serve as the primary contact for clients and project accountants on financial budgets and change control.
- Develop internal Cost Breakdown Structures (CBS) and Control Accounts aligned to scope, contract, and WBS.
- Provide cost management support during bid and project initiation phases to set projects up accurately.
- Ensure cost management processes align with estimates and estimating procedures.

Company and Industry Expertise:
- Proven experience in budgeting and cost control within complex environments.
- Recent, relevant experience in similar sectors or business contexts.
- Familiarity with contracting methods such as FIDIC, NEC3-4, and JCT, including claims and dispute resolution.
- Previous supervisory or line management experience in cost estimating, cost engineering, or project controls.
- Advanced knowledge of cost management techniques.
- Proficiency in Earned Value Management.
- Strong estimating skills.
- Quantity surveying experience.
- Experience in quantitative risk analysis.
- Full project lifecycle experience, from bid through to close-out.

 Additional Role Information:

• Processing purchase order requests in SAP.
• Drafting sales invoices within SAP.
• Extracting cost data from SAP and preparing payment applications (labour, expenses, supply and hire, subcontractors).
• Monitoring SAP purchase order updates and managing estimate at completion.
• Entering timesheets into SAP.
• Providing supporting invoices for payment applications.
• Preparing month-end accruals for the project accountant.
• Significant experience working with SAP is essential.

 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 (e.g. APM, ACostE, RICS) or equivalent.