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Location: Valparaiso, IN, United States
Req ID: R00934118
Job Title: Associate Project Cost Analyst
Job Code: MS6084
Develop proficiency in cost management processes, tools, techniques, and cost information management system for Major Projects. Perform core cost accounting / cost collection processes and core cost monitoring and control functions, cost variance assessment for multiple projects during the typical project life cycles.
Apply the results of cost planning in the creation and maintenance of multiple project cost management data files that enable detailed and summary level information and reporting of project cost. Process execution cost via project timesheets and maintain the cost data base. Monitor and process invoices for payment and subsequent project assessment; controlling by ensuring correctness of submitted invoices against contract scope and commercial requirements; obtaining invoice approval from Project Managers and recording for subsequent variance analysis. Communicate and report to relevant project cost management stakeholders.
The Associate Project Cost Analyst will advance his/her competence in project management systems while coordinating fundamental cost management/control. Using a simple project Work Breakdown Structure / Code of Accounts a cost repository is created to apply committed, budgeted project funds for project performance, disbursement, tracking, assessment, analysis, and close-out.
Develop cost engineering and project management capability and competence using industry standards (AACE, PMI, Construction Management Industry, etc.) and best practice application to expand knowledge base and optimum application.
Facilitate and interface with both internal and external stakeholders and contractors to ensure auditable cost management performance. Effectively communicate and disseminate cost management and work performance information to the project management team, project team, and impacted product stakeholders.
Proficiency and versatility in cost accounting processes, database development, manipulation, management, and control; integration with other project management information systems with data quality / data integrity assurance.
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.
The preceding description is not designed to be a complete list of all duties and responsibilities required of the position.
Inclusion & Diversity
Value inclusion within your day to day responsibilities by respecting others perspectives/convictions, engaging others opinions, creating a safe environment where people, ideas, and opinions are valued within your Team/Customers and external partners.
Respect and take into consideration diversity within your Team/Customers and external work partners by valuing different world views, challenges, and cultures that represent all walks of life and all backgrounds.
Treat others with respect and consideration. Actively participate in creating and contributing to a positive work environment.
Equal Employment Opportunity
NiSource is committed to providing equal employment opportunities in each of its companies to all employees and applicants for employment without regard to race, color, religion, national origin or ancestry, veteran status, disability, gender, age, marital status, sexual orientation, gender identity, genetic information, or any protected group status as defined by law. Each employee is expected to abide by this principle.
By applying, you may be considered for other job opportunities.
Promote a safe work environment by actively participating in all aspects of our employee safety program. Report any unsafe conditions and take actions to prevent personal injuries. Support our interdependent safety culture by ensuring the safety of your co-workers. Stay focused on the task at hand and promote productivity through good work habits.
Posting Start Date:2023-11-28
Posting End Date (if applicable):2023-12-13