Principal Cost Specialist

Babcock International; Plymouth; On-site; GBP 62,000 - 70,000; Full time

Job summary

A leading defense engineering firm in Plymouth is seeking a Principal Cost Specialist to oversee cost management across submarine programmes. The ideal candidate will possess strong cost engineering skills and knowledge in cost forecasting. This full-time position offers a salary of £62,000 - £70,000 along with a comprehensive benefits package and hybrid working arrangements.

Benefits

Generous holiday allowance

Matched contribution pension scheme

Access to a Digital GP

Employee share scheme

Payment of Professional Fees

'Be Kind Day' for volunteering

Qualifications

• Demonstrable experience in cost engineering, cost control or project controls within complex project environments.
• Proven ability to manage cost performance across large-scale projects or programmes.
• Strong understanding of cost forecasting, earned value management and financial governance.
• Experience leading or mentoring cost professionals and working within matrixed organisations.
• Excellent analytical and communication skills.

Responsibilities

• Lead cost management across complex projects by driving financial insight and guiding teams.
• Manage tools, processes and standards to ensure consistent cost control across projects.
• Oversee cost forecasting, variance analysis, and reporting for proactive management.
• Provide expert cost analysis for business cases and funding decisions.
• Collaborate with teams to maintain traceable and auditable cost data.

Skills

Cost engineering

Cost control

Project controls

Analytical skills

Stakeholder engagement

Education

Professional qualification in cost or project controls

PMQ or CHPP Chartered Project Professional

Job description

Job Title: Principal Cost Specialist

Location: Plymouth, Devon + Hybrid Working Arrangements

Compensation: £62,000 - £70,000 + Benefits

Role Type: Full time / Permanent

Shape the Future of Defence Engineering

At Babcock, we’re working to create a safe and secure world, together. If you join us, you can play your part as a Principal Cost Specialist at Devonport, near Plymouth, Devon.

The role

As a Principal Cost Specialist, you’ll be at the heart of our submarine programmes, applying your expertise to influence commercial outcomes and drive cost efficiency across complex projects. This is a high-impact role where your leadership and technical insight will help shape the future of defence engineering, while supporting your own career development and growth.

Day-to-day, you’ll lead cost management across complex projects by driving financial insight, guiding teams and ensuring robust, consistent practices that support strategic decision-making and operational excellence.

• Managing and maintaining tools, processes and standards to ensure consistent cost control across projects and programmes
• Overseeing cost forecasting, variance analysis and reporting to provide timely insights and proactive management
• Providing expert cost analysis to inform business cases, change control and funding decisions
• Collaborating with planning and commercial teams to maintain traceable, auditable cost data aligned with schedule and scope
• Leading and mentoring cost professionals, driving improvements in cost maturity and contributing to benchmarking and lessons learned

This role is full time, 35 hours per week and provides hybrid working arrangements with days in the office/onsite and days working from home.

Essential experience of the Principal Cost Specialist

• Demonstrable experience in cost engineering, cost control or project controls within complex project environments
• Proven ability to manage cost performance across large-scale projects or programmes
• Strong understanding of cost forecasting, earned value management and financial governance
• Experience leading or mentoring cost professionals and working within matrixed organisations
• Excellent analytical, communication and stakeholder engagement skills

Qualifications for the Principal Cost Specialist

• Professional qualification in cost or project controls (e.g. ACostE, AACE, or equivalent)
• PMQ or CHPP Chartered Project Professional

Security Clearance

The successful candidate must be able to achieve and maintain Security Check (SC) clearance for this role.

Many of the positions within our company are subject to national security clearance and Trade Control restrictions. This means that your eligibility for certain roles may be affected by your place of birth, nationality, current or former citizenship, and any residency you hold or have held. Further details are available at United Kingdom Security Vetting: clearance levels - GOV.UK (www.gov.uk).

What we offer

• Generous holiday allowance
• Matched contribution pension scheme, with life assurance
• Access to a Digital GP, annual health check, and nutritional consultations through Aviva DigiCare+
• Employee share scheme
• Employee shopping savings portal
• Payment of Professional Fees
• Reservists in the armed forces receive 10-days special paid leave
• Holiday Trading is a benefit that allows UK Babcock employees to buy additional leave or to sell up to one working week of annual leave from their annual entitlement. This Window opens February through to March annually.
• ‘Be Kind Day’ enables employees to take one working day's paid leave a year (or equivalent hours) to undertake volunteering work with their chosen organisation or registered charity
• Excellent development opportunities and benefits package including an employee assistance programme supporting physical, mental and financial wellbeing.

Babcock International

For over a century Babcock has helped to defend nations, protect communities and build a better world. To continue, we must adapt, advance and be a sustainable business with a shared goal.

We are a disability confident committed employer. If you have a disability or need any reasonable adjustments during the application and selection stages, please email [e-mail] with the subject header ‘Reasonable adjustments requirement’. We’re committed to building an inclusive culture where everyone’s free to thrive. We are happy to talk about flexible working – please ask about alternative patterns of work at interview.

Closing date: 05/11/2025

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