Senior Cost Analyst at Worley

Main Purpose Of Job

• To create Project budgets and analyse variances between budgeted Project costs and actual costs.
• To be responsible for analysing and controlling Project costs and advise Project Delivery teams appropriately.
• Manage financial risk and contain time and cost overruns on projects.

Key Performance Areas

B2.

• Indicate Key Performance Areas and the estimated percentage of time spent in each area.

KPA
% of Time

• Coordinate the overall cost analysis activities on one or more major projects / a portfolio of projects.
• Assume responsibility for preparation, quality and accuracy of project cost reports.
• Establish liaison with project management and clients on all matters relating to cost control.
• Assign and review work of subordinate cost analysis staff.
• Interface with Project stakeholders, including finance and accounting, to prepare written schedule and cost analysis and report on timely and accurate forecast of project cost
• Interface with stakeholders for stringent implementation of MoPC

30%
20%
20%
5%
5%
10%

• Interface with the PM and Finance to prepare monthly internal reports (PCS, FCS, WPR)

5%

• Project Close out and benchmarking

5%

Key Responsibilities

• State the key responsibilities under each Key Performance Area.
• If there are more than 10 key responsibilities, some of the similar functions may be grouped together.
• Please indicate which responsibilities are considered “essential” to the successful performance of the job in that particular KPA.

No.
Key Performance Areas (major Activities / Responsibilities)
Input (methods used)
Output (expected results)
% Time
Coordinate the overall cost analysis activities on one or more major projects / a portfolio of projects.

• Provide Cost Control support to the Discipline Manager on one or more major projects / a portfolio of projects at any given time.
• Participate in the interpretation and definition of client requirements with particular reference to estimates and cost controls in one or more major / complex and strategic projects.
• Develop and maintain the project cost control system, including forecasting, monitoring.
• Develop a project-specific cost control system in accordance with the Project Execution Plan for inclusion in the Project Instructions Manual.
• Convert the Project Estimate to the Project Cost Control System.
• Develop and maintain a quantities database for forecasted and actual quantities and forecasts costs at completion based on the bill of quantities.
• Establish and maintain a project cost trends system and assist with the development of change orders.
• Monitor, analyze, and report on project cash flow / Cost Spreads.
• Assist the Project Controls Manager in the analysis of subcontract bids.
• Implement Safety, Quality, Ethical Standards, Lessons Learned, and Performance Management
• Establish and maintain a project Specific Dashboard reporting measure to assist project Managers and Project Controls Manager with project(s) trends and use it as a reporting tool for upper management.
• Coordinate interface between cost control, Finance and Quantity Surveying and Estimation.

Refer to PCP-0001-COR-EN Project Breakdown and Coding Structures Standard
Refer to PCP-0042-COR-EN Cost Management Standard
Refer to INF-1300-COR-EN Project Start Up Checklist
Progress measurement and Cost / Revenue Recognition Updates
Project Cost Reporting
Internal Management reporting
Monthly invoicing
Assume responsibility for preparation, quality and accuracy of project cost reports.

• Analyze project costs
• Gather necessary information from the project team and others to support timely and accurate cost reporting and forecasting.
• Monitor and control expenses within allotted project budget.
• Ensure that cost codes and contract numbers are used correctly in the accounting and contract administration systems.
• Maintain, analyse, and update the Project Cost Report, including accurate presentation and documentation of budgets, budget transfers, committed costs, forecasted trends, and contingencies.
• Coordinate with the project team to gather information needed to maintain the Project Cost Report.
• Monitor, analyze, and report on engineering and construction man-hours and expense expenditures against budget.
• Process invoices in a timely manner and prepare monthly accruals.

Cost reporting as per Project Reporting Plan
Cost Performance Analysis and Monthly Forecasts
In accordance with the EMS standards; WPMP and contract requirements.
Cost control objectives are met throughout project life-cycle stages.
High level of input quality and usefulness of documents produced.
Establish liaison with project management and clients on all matters relating to cost control.

• Establish liaison with Project Management and the client (s) on all matters relating to cost control.
• Coordinate with project team to maintain an accurate man-hour forecast.
• Work with finance team in maintaining project accounting, budgeting and capital planning systems.

Effective mitigation of financial risk, and efficiency.
Maintain MoPC Variation Register.
Efficiency and seamless work-flow.
Compliance with Internal Controls, Authority Levels and Signing Powers.
Assign and review work of subordinate cost analysis staff.

• Assign and review work of junior cost control staff.

Evidence of collaborative work relationships on projects and QS input.
Zero Harm is maintained
Interface with the PM and Finance to prepare monthly internal reports (PCS, FCS, WPR)

• Obtain “As-sold” Margins from Pursuit team and input to Project Control Statement (PCS) in Accenta.
• Provide input into WPR in Accenta
• Assist to prepare and implement Recovery Plan
• Work with finance team in maintaining project accounting, budgeting and capital planning systems.

Monthly PCS and WPR reports
Review Status of Recovery Plan during MPR Meeting, if applicable
Follow-up Actions and Close-out
Project Close out and benchmarking

• Input to Project Close Out and Historical Data Collection

Refer to Project Close-Out Business Process Map CLB-0001-COR-EN
Requirements Of The Job
State the minimum educational, qualifications and experience that are required to perform the job competently:

Minimum Qualifications:

• Degree or Diploma in Quantity Surveying or Cost and Management Accounting or similar accredited qualification.
• Certification and membership by AACE (Association for the Advancement of Cost Engineers) or PMI (PMP) or similar accredited project management institute.
• Willing to undergo rigorous in-house Worley project controls and quality training
• Membership of AACE (Association for the Advancement of Cost Engineers).

Experience:

• A minimum of 8 years post qualification engineering / Project cost accounting experience in large construction / EPCM projects.
• Personal Qualities
• Interest in project accounting.
• Focus and belief that Zero Harm is achievable.
• Action Orientation
• Commitment.
• Customer Focus.
• Drive for Results.
• Integrity and Trust.
• Analytical.
• Initiative.

Competencies Of The Job

• Capable of Building Effective Business Relationships.
• Dealing with Change.
• Drive for Results.
• Integrity and Trust.
• Leadership Skills including Strategic Ability.
• Planning & organizing, with strong project management skills.
• Can operate in environment of complexity.
• Ability to work in a matrix structure
• Managing Vision & Purpose, Command Skills, and Global Business Knowledge.

Physical Requirements Of The Job

• In the performance of the duties of this role, the employee is regularly required to sit and stand; talk and hear, both in person and by telephone; use hands to finger, handle, feel or operate standard office equipment; and reach with hands and arms. Specific vision abilities required by this job include close vision, colour vision and the ability to adjust focus.
• While performing the duties of this class, the incumbent is regularly required to use written and oral communication skills; read and interpret data, information and documents; analyse and solve complex problems; use math and mathematical reasoning; perform highly detailed work under changing, intensive deadlines, on multiple concurrent tasks; work with constant interruptions; and interact with officials and the public.

SPECIAL CONDITIONS ATTACHED TO THE JOB: (Specify)

• Travelling / posting to project sites is inherent in the nature of this role.
• Cost analysts usually work alone, but they also work with Project Managers to explain financial issues and provide other co-workers with any needed training.