Senior Cost Engineer

Wood; Tees Valley; On-site; GBP 55,000 - 75,000; Full time

Benefits offered by this job

Meaningful projects

Diversity & Inclusion

Competitive salary

Flexible benefits

Professional development

Global connections

Job summary

Wood is seeking a Cost Engineer to prepare and report on project cost budgets and monitor expenditure across the project lifecycle. You will support senior cost team members, ensuring budgets and reports meet contractual requirements and Wood standards.

Responsibilities include budgeting, forecasting, and cost reporting across internal and external stakeholders, partnering with Finance, Procurement, and IJV teams to control costs effectively.

Qualifications

• Typically requires ISCED level 6 (Bachelors) Degree in a relevant technical or business discipline
• Proficient knowledge of cost software and related principles, tools and techniques including budgeting, forecasting and cash-flow
• Proficient understanding of WBS & CBS structures and project reporting capabilities
• Proficient ability to develop project cost budgets and change estimates
• Proficient ability to prepare cost reports

Responsibilities

• Accountable for budgets, commitments, VOWD, cash calls, change control and cost phasing.
• Ensure accurate cost data, actuals mapping, and reporting across bp and IJV systems.
• Deliver accurate forecasts and assure the integrity of the project's final cost position.
• Produce and present cost reports for internal and external stakeholders.
• Analyse cost performance, provide insights, and maintain detailed actuals tracking.
• Support change management processes, including budget transfers and cost impacts.
• Manage cost reporting requirements related to intercompany charges and commercial agreements
• Develop and maintain understanding of execute contract packages and remuneration strategies.
• Support variation control and management alongside the Contract Administration team.
• Participate in payment certificate verification with CAM and Contract Administration.
• Facilitate monthly MPR cost management reviews within PDU review meetings.
• Establish and maintain trend management processes, identifying key cost drivers and risks to support forecasting.
• Understand and analyse progress measurement systems in collaboration with PCM, Planning, and estimating teams.
• Provide cost management support across a diverse portfolio of execute-phase activities.
• Partner with Finance, Procurement, IJV teams and contractors to support effective cost management.

Skills

Cost budgeting

Forecasting

Cash-flow

WBS & CBS

Cost reporting

Change management

Earned value

Project management

Education

Bachelor's degree (ISCED 6)

Tools

Cost software

Budgeting tools

Job description

Stockton-on-Tees, County Durham, United Kingdom (Hybrid)

Our Clients and Projects

Designing the future. Transforming the world.

Wooddelivers solutions across more than 60 countries with local offices covering all major energy and materials hubs globally.

For more than 160 years,wehave partnered with clients to deliver engineering, advisory and operational solutions to some of the world’s most complex and critical challenges in energy and materials.

#LI-Hybrid

What we can offer

• Meaningful and interesting projectsdelivered to leaders of industry across emerging energy sectors
• Commitment to Diversity and Inclusion; we are an organisation actively committed to diversity and inclusion across our business
• Competitive salarywith regular salary reviews to ensure we are rewarding at the right level in line with the market
• Flexible benefits package; inclusive of 33 days annual leave (including public holidays), generous contributory pension scheme, private medical cover, 4x base salary life insurance; all of these and more that can be adapted to suit your own lifestyle
• Commitment to continued professional development;development plans that are tailored to your individual needs and interests
• Global connections: join experts around the world who are at the leading edge of our industry, shaping the standards of our profession

The role

As a Cost Engineer, you will prepare and report on project cost budgets, and the tracking, management and reporting of project expenditure to enable robust control of projects throughout their life cycle. You will support senior members of the cost team through the preparation and reporting of project cost budgets, ensuring budgets and reports are prepared to the required level of detail and accuracy in accordance with contractual requirements and Wood policies, procedures and standards. This will typically involve the review, analysis and reporting of actual and forecasted project costs against the project approved budget.

Responsibilities

• Accountable for budgets, commitments, VOWD, cash calls, change control and cost phasing.
• Ensure accurate cost data, actuals mapping, and reporting across bp and IJV systems.
• Deliver accurate forecasts and assure the integrity of the project's final cost position.
• Produce and present cost reports for internal and external stakeholders.
• Analyse cost performance, provide insights, and maintain detailed actuals tracking.
• Support change management processes, including budget transfers and cost impacts.
• Manage cost reporting requirements related to intercompany charges and commercial agreements
• Develop and maintain understanding of execute contract packages and remuneration strategies.
• Support variation control and management alongside the Contract Administration team.
• Participate in payment certificate verification with CAM and Contract Administration.
• Facilitate monthly MPR cost management reviews within PDU review meetings.
• Establish and maintain trend management processes, identifying key cost drivers and risks to support forecasting.
• Understand and analyse progress measurement systems in collaboration with PCM, Planning, and estimating teams.
• Provide cost management support across a diverse portfolio of execute-phase activities.
• Partner with Finance, Procurement, IJV teams and contractors to support effective cost management.

Qualifications

What makes you remarkable?

At Wood, we are committed to equal opportunities and welcome all talented individuals to consider joining our team. So even if you don't match every statement below but feel you have some of the experience, knowledge or skills needed for this role, we encourage you to apply. It will take all of us working together to deliver solutions to the world’s most critical challenges.

• Typically requires ISCED level 6 (Bachelors) Degree in a relevant technical or business discipline (or equivalent gained through relevant vocational training and/or industry experience)
• Incumbents will typically have relevant cost experience
• Proficient knowledge of cost software and related principles, tools and techniques including budgeting, forecasting and cash-flow
• Proficient knowledge of Project Execution Procedures for Cost Management including Change Management
• Proficient understanding of WBS & CBS structures and project reporting capabilities
• Proficient ability to develop project cost budgets and change estimates
• Proficient ability to prepare cost reports
• Understanding of change management and associated cost and schedule processes
• Understanding of earned value application, cost and schedule variance analyses/trending and what-if scenarios
• Understanding of project management principles and techniques
• Understanding of Cost Management, Change Control, Planning & Risk Analysis & Management

About Us

Wood is a global leader in consulting, engineering and operations for the energy and materials sectors. With 33,000 people in around 50 countries, Wood supports clients across the full asset lifecycle, delivering safe, predictable outcomes while enabling resilient operations and a lower carbon future. Wood forms the Energy & Materials pillar of Sidara - a global partnership uniting leading multidisciplinary engineering, design, and project management companies. www.woodgroup.com

Diversity Statement

We are an equal opportunity employer that recognises the value of a diverse workforce. All suitably qualified applicants will receive consideration for employment on the basis of objective criteria and without regard to the following (which is a non-exhaustive list): race, colour, age, religion, gender, national origin, disability, sexual orientation, gender identity, protected veteran status, or other characteristics in accordance with the relevant governing laws.

Job Info

• Job Schedule Full time
• Locations Stockton-on-Tees, County Durham, United Kingdom (Hybrid)
• Apply Before 10/30/2026, 10:20 AM