Associate Project Cost Analyst

Principal Duties and Responsibilities 

• Ensure that project work elements are organized and are reflected in terms of approved resource estimating and associated budgeted cost of work scheduled (PV / BCWS). Establish proficiency in Work Breakdown Structure development and management as well as the importance and utilization of the work breakdown structure dictionary integrated attributes. 

• Ensure cost data quality management in accordance with generally accepted accounting principles.  Ensure cost collection quality, invoice processing quality, cost accrual and cost reporting quality, and cost assessment quality. Establish cost quality control metrics and apply cost measurement inspections. 

• Develop proficiency in project risk management. Apply cost risk management for the control of legitimate costs and the efficient processing of valid project costs and managing the risk of ineffective and inaccurate cost reporting.    

• Develop proficiency in contract commercial management, contract payment, contract performance assessment and reporting and initial contract performance analysis and contract commercial forecasting. Assist in contract reviews relative to payment requirements and supporting documentation. 

• Develop expanding proficiency in project cost management: 

• Review and coordinate the management and utilization of project controls guideline, cost management standards, cost management processes, cost job aids / cost tools. 

• Develop / apply proficiency in cost estimating and use to validate contractor initial estimates, forecasts, and estimates at completion. Manage the Basis of Estimates. 

• Develop / apply proficiency in project cost budgeting and cost base-lining.   

• Process labor timesheets, invoices, and other submittals associated with contract labor; code invoice details for Nature of Expenses, Work Breakdown Structure and Cost Budgeting System codes; Assist Project Managers and Cost Budget Analysts in the accrual process. 

• Evaluate manpower, labor hours, and labor cost requirements versus budget limitations and assist in variance assessment. 

• Maintain detailed spreadsheets for cost tracking and forecasts; conduct or assist in performance measurement and work performance information and associated cost trending. Perform simple earned value management and measurement techniques to develop the project EAC (Estimate at Completion); prepare analysis of progress trends and cost impacts to assist in the preparation and submittals of the EAC. 

• Review and assess cost variance and identify cost changes and implement cost change control; apply cost baseline change management. 

• Perform standard project and special project cost reporting as required by the project stakeholders; assist in compilation and running of associated cost reports as required and directed. 

• Develop proficiency in schedule management processes and the impact of project planning and scheduling on cost management. Establish planning and scheduling proficiency; Develop the competence to "read a schedule" i.e., review, assess, and analyze project schedules.  Understand critical path methodology, schedule planning, activity definition, activity sequencing, resource estimating, schedule development and schedule monitoring and control.  Apply a schedule hierarchy to the project; develop schedule forecasting proficiency and ability to determine estimate completion date (ECD) competence and integrate schedule risk into the equation. 

• Develop product life cycle costing competence. 

• Assist the project management team, Major Project managers, Director, and other relevant stakeholders in retrieving cost management information and reporting. 

• Interface with project stakeholders to effectively account for project costs. 

• Develop proficiency in effective communication and assessing project stakeholders for their core and special cost reporting, cost assessment, and cost analysis needs and provide those stakeholders with optimum communication, information, and reporting. 

• The Associate Project Cost Analyst will perform in accordance with Industry standards, the NiSource Project Management Guidelines and Standards, and industry best practices. 

Required Qualifications for Position 

• Developing a knowledge base in project cost management, cost accounting, and initial cost control processes 

• Expected comprehension of project cost guidelines, standards, processes, and job aids 

• Initial proficiency in cost accounting software and spreadsheet development, utilization, and controlled manipulation 

• Coordinates, applies cognitive ability, personal effectiveness, innovation, initial decision-making, communication soft skills, listening, articulating, writing, messaging, proactive stakeholder management  

• Ability to use various computer software systems with a high degree of proficiency in Microsoft Excel.  

• High School diploma and two years of experience working in Microsoft Excel, or equivalent software program, with responsibilities for data manipulation, integration and subsequent report generation.    

Preferred Qualifications for Position 

• Ability to build advanced spreadsheets for budgeting and financial analysis, database experience. 

• Bachelor’s Degree, experience working in Microsoft Excel, or equivalent software program, with responsibilities for data manipulation, integration and subsequent report generation. Experience in large industrial Capital Project environments.  

Disclaimer 

The preceding description is not designed to be a complete list of all duties and responsibilities required of the position.