Senior Cost Engineer
At this level a Senior Cost Engineer (PMO Cost Specialist (Advanced)) is responsible for applying
requirements management , budgeting & cost control , financial management , change
management and benefits management independently primarily in complex situations across P3M.
Ability to developing and agree scope/budgets for projects and/or programmes and controlling forecast and actual costs against them. This includes the provision of risk & opportunity analysis on these budgets and change management.
Top 5 Major Tasks and Activities:
? Develop/implement and maintain the Project Baseline Budgets incl Control Account Plans/Responsibility Assignment Matrix and WBS Dictionary (SOW).
? Responsible for the monitor, control and validation of project’s accruals and commitments and the control of resource and financial forecast data.
? Management and control of cost risk budget and drawdown and input into the risk management process.
? Management and control of financial change management on the project and assurance of alignment with the business/contractual requirements.
? Provision of internal and external financial performance & cost reports including earned value and variation analysis.
? Alignment of cost management with schedule and contract.
? Maintain cost elements within ERP
? Key point of contact with the client and the project accountant for all financial budget and change control
? Develop appropriate internal CBS and Control Accounts that are aligned to scope, contract and WBS.
? Provide cost management support to bid and project initiation phases to ensure project are correctly set up and initiated.
? Ensure cost management is aligned to the estimates and estimating process.
? Analysing, vetting and interrogating the Contract Specification to ensure a full and detailed understanding and interpretation of the Customer requirements including Project gate and phase reviews for the Project Life cycle
? Lead on the continuity between estimating and project delivery
? Development and maintenance of Project Assumptions/Exclusions and Dependencies logs with regards to cost management.
? Contribute to the identification of project risks, quantification of financial impact and cost risk analysis.
? Responsible for managing and controlling project cost risk contingency and its drawdown.
? Day to day management, assurance and control of project booking code approval and closure (including purchase orders)
? Management of the project cost change register and associated impact assessments
? Production and submission/management of payment claims to client
? Ensuring that the schedule is cost loaded in line with the Baseline budgets
? Maintain project EAC’s, outturn costs and sales and ensure regular reviews are undertaken with each discipline
? Support the PM/Finance Controller in the production and analysis of coast/sale performance
? What-if cost modelling scenarios
? Support to commercial management
? Govern alignment of integrated schedule to project change register and budgets/forecasts
? Recording of lessons learned in company LFE register
? Control account Close out reports and support to final project close out report
? Attending and contributing the business Project Controls Communities of Practise
? Performance Measurement Baseline
? WBS Dictionary (SOW)
? Cost Breakdown Structure (CBS)
? Responsibility Assignment Matrix
? Control Account Plans
? EVM/Cost Reports
? Project Out-turns against CBS
? Payment Claims
? Change Register
? Client Variations/Impact Assessments
? Risk/Opportunity and Contingency Registers
? Estimates at Completion
? Lessons learned Updates
? PM Controls Framework
? Leading Self: Is a role model, demonstrating Cavendish principles, promoting health, safety and wellbeing, respect and inclusion
? Leading Others: Owns the performance and development of their team members, including effective and ongoing communication and feedback
? Leading Resources: Responsible for effective planning and organisation of resources to deliver on customer promises
? Can explain their responsibilities for their own and others health and safety welfare
? Can explain their safe systems of work and their empowerment to stop work and immediately report to their line manager if they feel that something is unsafe or something is not right
? Can explain how to report an HSE unsafe act and not walk by
? Can explain and adhere to all environmental processes and procedures as detailed by the Company
? Can articulate and communicate “interested parties” and their requirements
? Captures issues, risk & opportunities to instigate and monitor an appropriate Quality Management system for their area of responsibility
? Demonstrate and communicate the quality requirements of their function and ensure that these are being met
? Demonstrate an understanding of risks and take action to mitigate that risk Continuous Improvement Responsibilities and Accountabilities
? Responsible for working with the business unit functional departments to identify and deliver improvements in quality, schedule and cost within the project.
? Identification of Lessons learned back into the business
? Can communicate the financial strategy of the business and uses this knowledge to provide direction for self and others
? Maintains governance frameworks to ensure that the financial strategy of the business is maintained
? Implements local business plans and objectives in line with financial targets
? Directs the local assets and resources in order to achieve the business plan and objectives
? Creates a sense of common understanding of financial awareness within and across teams Commercial Responsibilities and Accountabilities
? Empowers staff to consider the risks, costs and contractual relationships in carrying out their roles and responsibilities
? Encourages dialogue to continually improve the commercial viability of all activities
? Seeks opportunities to work across the business as one team and take advantage of synergies and best practice to achieve the BU strategy and goals
? Seeks early active involvement of the commercial function and other internal stakeholders in contracting processes to ensure full and deep understanding of the
? Significant experience of applying budgeting & cost control in a complex environment
? Extensive recent and relevant experience in a similar environment / business sector
? Awareness of various contracting methodologies (e.g. FIDIC/NEC3-4/JCT etc…) including resolution of claims and disputes
? Previous experience of supervisory / line management in cost estimating, cost engineering or project controls environment
? Advanced knowledge of cost management techniques
? Advanced knowledge of Earned Value Management
? Advanced Estimating
? Quantity surveying
? Quantitative risk analysis experience
? Full project lifecycle experience from bid phase through to close out
? HNC level qualification (or equivalent) in cost engineering or quantity surveying
? Ideally a bachelor’s degree in engineering / project / construction management or a related field
? ECITB QCF Level 5 Diploma in Cost Engineering (Cost Control)
? Have an professional qualification and membership (eg APM/Acoste/RICS) (or equivalent)
Expert (applies the competence independently, primarily in complex situations , recognised as an expert by other senior professionals (who is called on for advice by others on the competence), has an in-depth knowledge in complex situations and can critically evaluate, adapt or develop new theories and/or methods if required and educate others) in the following APM competencies
? Budgeting and Cost Control – the process for setting agreed budgets and the control of forecast and actual costs against that budget. Use of tolerances and performance management
? Change Control – the features of a rigorous change control process , and how to establish , implement and maintain a change control process
? Contract Management – The nature of contracts and statements of work , and the implications for the contracting organisations and the suppliers into this
? Financial Management – Uses financial information to prepare and deliver overall financial progress reports
? Independent Assurance – gather independent evidence that the information from the project is valid, and that the project is likely to achieve its aims.
Proficient (applies the competence independently, primarily in complex situations , supervises others applying the competence , has a detailed knowledge in complex situations and can critically evaluate and adapt as required) in the following APM competencies