Associate / Project Cost Analyst

at  NiSource

SUMMARY

Applies project cost management methodology, processes, tools, techniques, and information management systems to effectively manage project costs throughout the project life cycle. Develops effective cost management strategy and plans, estimates project cost, develops project budgets and cost performance baselines, collects, assesses, and analyzes cost performance, and recommends cost corrective actions; performs project cost close-out for designated projects.
Initiates cost management applying enterprise cost constraints and budget; develops and maintains the project estimate; synchronizes the project budget; maintains cost change control, status project costs; assesses project costs, analyzes project costs, controls project costs during each project life cycle.
Manages the development and progression of the project estimate and budget throughout the project life cycle; estimates types and quantities of resources and associated resource rates and reconcile project budget. Plans and manages cost collection and performs cost performance measurement and cost reporting. Generates recommendations for project corrective action, preventive action, and predictive action.
Expands cost analyst 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.
Engages project stakeholders to establish and develop an accurate cost estimate and budget in addition to qualitative cost collection and processing. Effectively communicates and disseminates cost management and reporting status and work performance information to the project management team, project team, and impacted product stakeholders for project objective management.
Proficiency and versatility in cost estimating and budgeting; integration with other project management information systems with data quality/data integrity assurance to create integrated project baselines
Provides cost analysis for Electric and Gas transmission and distribution projects and Generation projects ranging from $500k to $200M.

REQUIRED QUALIFICATIONS FOR POSITION

• Bachelor’s Degree and four years of experience working in Microsoft Excel, or equivalent software program, with responsibilities for data manipulation, integration and subsequent report generation. Additional qualifying experience in excess to the minimum stated above may be substituted for the required education on a year for year basis.
• Expanded knowledge base in project estimating, project budgeting, earned value management, project planning and scheduling.
• Expanded comprehension in project controls guidelines, standard, processes, and job aids.
• Manages project stakeholders using cognitive ability, personal effectiveness, innovation, value based decision-making, integrated communication (soft and hard skills); conflict resolution, and team work.
• Must possess exceptional communication skills.
• Ability to collaborate with and communicate to all levels of personnel in the organization.
• Ability to work independently.
• Excellent working knowledge of Microsoft Excel.
• Ability to build project budgets.
• Expanded proficiency in project scheduling software and integration of project controls information.
• Valid driver’s license.

PREFERRED ADDITIONAL QUALIFICATIONS FOR POSITION

• Experience in large industrial Capital Project environments.

PRINCIPAL DUTIES AND RESPONSIBILITIES

• Utilizes organized project work elements for enhanced project estimating and budgeting in assigning more accurate planned value. Applies WBS attribute proficiency to integrate project baseline elements to provide an optimum, achievable project plan. Performs more effective earned value criteria (EV) to enable enhanced parametric forecasting. Provides quick turnaround of project work performance data to enable maximum time for implementation of corrective action.
• Ensures estimate and budget quality management in accordance with project management industry standards. Ensures developing cost analysis quality and cost analysis quality. Utilizes cost quality control metrics and apply cost measurement inspections to drive effective cost control.
• Applies cost risk management to the development of the project cost estimate and integrate estimate uncertainty with project risk. Quantifies risk response to more effectively forecast cost performance.
• Assists in contract commercial management, facilitates contract payments, conducts contract performance assessment and reporting and initial contract performance analysis and contract commercial forecasting. Performs contract reviews relative to payment requirements and supporting documentation.
• Applies core project cost management expertise.
• Reviews and coordinates the management and utilization of project initiation, project planning, project controls guideline and project controls related standards, project controls management processes, job aids and tools.
• Integrates cost management with core project controls (schedule management, scope management) to drive core objective performance.
• Manages cost effort.
• Tailors cost management processes.
• Tailors/creates cost management tools / techniques to advance cost performance.
• Utilizes cost estimating to validate contractor initial estimates, forecasts, and estimates at completion. Manage the Basis of Estimates.
• Develops/applies proficiency in project cost budgeting and cost base lining.
• Processes 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.
• Evaluates manpower, labor hours, and labor cost requirements versus budget limitations and perform cost and schedule analysis.
• Maintains/manages project Estimate at Completion.
• Works to implement cost preventive action.
• Performs standard project and special project cost reporting as required by the project stakeholders; compiles and produces cost reports as required and directed.
• Applies proficiency in schedule management processes and the impact of project planning and scheduling on cost management. Utilizes planning and scheduling proficiency; Analyzes project schedules and the impact of schedule on cost. Applies critical path methodology and schedule risk management to develop schedule forecasting proficiency and ability to determine estimate completion date (ECD) competence and integrate schedule risk into cost impact.
• Applies proficiency in core integration; scope, cost, and schedule.
• Applies product life cycle costing competence.
• Assists the project management team, Major Project managers, Director, and other relevant stakeholders in retrieving cost management information and reporting.
• Engages project stakeholders to optimize cost planning and cost control.
• Applies 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 Project Cost Analyst will manage in accordance with Industry standards, the NiSource Project Management Guidelines and Standards, and industry best practices.