A crucial role within the newly formed PMO, responsible for overseeing managing and overseeing the financial aspects of all projects at London City Airport, ensuring that costs are controlled and aligned with the budget throughout the project lifecycle.
The Cost Control Engineer will work closely with the project and procurement teams to forecast and manage costs, track actual expenditures, control the cost of change, and cost variances.

You will be responsible for implementing cost control processes, identifying opportunities for cost savings and challenging Project Managers and suppliers on cost estimates.

• Assist in the preparation of detailed project budgets, ensuring all relevant cost factors are included.
• Work with suppliers, project managers and engineering teams to develop cost estimates based on project specifications, timelines, and scope.
• Assist the preparation of tender documents and supplier selection process to ensure value for money and quality standards are maintained.
• For non-construction projects, this may include budgeting for IT systems, equipment, and operational improvements.
• Work with procurement and contract management teams to ensure that vendor contracts and procurement activities align with cost forecasts.
• Monitor actual project costs against the approved budget to ensure spending is within limits.
• Track all project-related expenditures, including labour, materials, equipment, and subcontractor costs.
• Ensure all costs are correctly coded and allocated to the appropriate project tasks or work packages.
• Analyse any variances between actual costs and budgeted costs, identifying the root cause of cost overruns or savings.
• Lead on dispute resolution with contractors and suppliers.
• Provide recommendations to the project team on how to mitigate cost overruns or take advantage of cost savings.
• Prepare regular financial reports, including cost performance analysis, budget variances, and cost-to-complete forecasts.
• Generate weekly/monthly cost control reports for internal stakeholders, highlighting any risks or deviations from the budget.
• Provide cash flow forecasts based on project progress and planned expenditures.
• Track and evaluate the financial impact of change orders and variations, ensuring that they are properly documented and approved.
• Update the project budget and forecasts to reflect any changes in scope and provide feedback to the project manager on potential cost impacts.
• Ensure that contract terms are adhered to, especially in relation to cost changes and payment terms.
• Identify potential financial risks related to cost overruns, delays, or scope changes, and propose mitigation strategies.
• Support the project manager in managing contingencies and financial reserves to cover unforeseen expenses.
• Regularly review the project cost plan to ensure that risks are accounted for and managed effectively.
• Project budgeting and Cost Estimation:
• Assist in the preparation of detailed project budgets, ensuring all relevant cost factors are included.
• Work with suppliers, project managers and engineering teams to develop cost estimates based on project specifications, timelines, and scope.
• Assist the preparation of tender documents and supplier selection process to ensure value for money and quality standards are maintained.
• For non-construction projects, this may include budgeting for IT systems, equipment, and operational improvements.
• Work with procurement and contract management teams to ensure that vendor contracts and procurement activities align with cost forecasts.

EDUCATION & TRAINING

• Degree in Engineering, Quantity Surveying, Finance, or a related field.
• Professional certification (e.g., Certified Cost Professional [CCP], Project Management Professional [PMP], or equivalent).
• Experience in cost control, financial management, or project accounting, ideally in an airport or construction environment.

SPECIALIST SKILLS & KNOWLEDGE

• Experience of working across teams and multidisciplinary work streams, including construction project planning, quality control, CDM.
• Proficient in cost control and financial software, such as SAP, Oracle, MS Dynamics or MS Excel.
• Strong understanding of cost management principles, budgeting, and forecasting.
• Knowledge of cost estimation techniques, earned value management (EVM), and financial reporting.?
• Negotiation skills for dealing with contractors and stakeholders
• Understanding of construction processes and materials
• Legal knowledge of construction contracts and industry standards
• Excellent communication skills to present financial information to non-financial stakeholders
• Strong analytical and problem-solving skills to manage complex cost data

THIS ROLE WILL REQUIRE THE INDIVIDUAL TO HAVE CTC CLEARANCE

London City Airport is one of the largest private sector employment sites in the London Borough of Newham. We offer a wide range of interesting and challenging career opportunities for the local community.
With over 2,000 employees here, working either directly for London City Airport Limited or for one of our concession partners, airlines, or other business partners on site, the scope for career satisfaction and progression is huge.
London City Airport is an Inclusive Employer.
At London City Airport we respect and celebrate each other’s individual differences. We embrace all backgrounds and abilities of all team members and we work closely with our Inclusion Group A Voice for all to ensure we are an inclusive workplace.
Please note that we only ask candidates to go through the necessary security checks (Criminal Record Checks or CRC) once a position has been offered. If you are approached by a third-party site offering to manage the process for you, please ignore it.
London City Airport Ltd is not currently delivering a Graduate Training Programme but we do run a Work Experience Programme. Please click here to find out more

You will be responsible for implementing cost control processes, identifying opportunities for cost savings and challenging Project Managers and suppliers on cost estimates.

• Assist in the preparation of detailed project budgets, ensuring all relevant cost factors are included.
• Work with suppliers, project managers and engineering teams to develop cost estimates based on project specifications, timelines, and scope.
• Assist the preparation of tender documents and supplier selection process to ensure value for money and quality standards are maintained.
• For non-construction projects, this may include budgeting for IT systems, equipment, and operational improvements.
• Work with procurement and contract management teams to ensure that vendor contracts and procurement activities align with cost forecasts.
• Monitor actual project costs against the approved budget to ensure spending is within limits.
• Track all project-related expenditures, including labour, materials, equipment, and subcontractor costs.
• Ensure all costs are correctly coded and allocated to the appropriate project tasks or work packages.
• Analyse any variances between actual costs and budgeted costs, identifying the root cause of cost overruns or savings.
• Lead on dispute resolution with contractors and suppliers.
• Provide recommendations to the project team on how to mitigate cost overruns or take advantage of cost savings.
• Prepare regular financial reports, including cost performance analysis, budget variances, and cost-to-complete forecasts.
• Generate weekly/monthly cost control reports for internal stakeholders, highlighting any risks or deviations from the budget.
• Provide cash flow forecasts based on project progress and planned expenditures.
• Track and evaluate the financial impact of change orders and variations, ensuring that they are properly documented and approved.
• Update the project budget and forecasts to reflect any changes in scope and provide feedback to the project manager on potential cost impacts.
• Ensure that contract terms are adhered to, especially in relation to cost changes and payment terms.
• Identify potential financial risks related to cost overruns, delays, or scope changes, and propose mitigation strategies.
• Support the project manager in managing contingencies and financial reserves to cover unforeseen expenses.
• Regularly review the project cost plan to ensure that risks are accounted for and managed effectively.
• Project budgeting and Cost Estimation:
• Assist in the preparation of detailed project budgets, ensuring all relevant cost factors are included.
• Work with suppliers, project managers and engineering teams to develop cost estimates based on project specifications, timelines, and scope.
• Assist the preparation of tender documents and supplier selection process to ensure value for money and quality standards are maintained.
• For non-construction projects, this may include budgeting for IT systems, equipment, and operational improvements.
• Work with procurement and contract management teams to ensure that vendor contracts and procurement activities align with cost forecasts