Strategic Cost Engineer – Budgets & Forecasts (Hybrid)

Wood; Tees Valley; Hybrid; 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

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.