Project Cost Specialist

The role works collaboratively with Project Managers, Programme Managers, Finance, Planning, and Procurement teams—focusing on enabling delivery, improving outcomes, and providing high‑quality cost intelligence rather than enforcing compliance. It is a key opportunity to influence best practice and support the successful delivery of our growing portfolio of projects. 

Role Purpose

The Project Cost Specialist provides subject matter expertise in project cost management to support the ESCO Programme teams. The role delivers high‑quality cost insight, management information, and forward‑looking forecasts that enable informed decision‑making and successful programme delivery.

Operating within the ESCO Project Management Office (PMO), the role forms part of the Subject Matter Expert (SME) team and holds ownership of cost status, forecasts, and cost management methodologies across assigned programmes. This includes developing, maintaining, and deploying standardised cost templates, tools, and approaches.

The Project Cost Specialist contributes to internal programme reviews, senior leadership reporting, and customer reviews. Project and Programme Managers use outputs to lead discussions, manage risk, and drive decisions. The role works in close partnership with Project Managers, Programme Managers, Finance, Planning, and Procurement teams—focused on enabling delivery and improving outcomes rather than enforcing compliance.  

Key Responsibilities:

Cost Management & Forecasting 

• Develop, maintain, and continuously improve project cost management processes to support robust estimating, budgeting, forecasting, and cost control, aligned to organisational policies and maturity objectives.
• Monitor and track actual costs against approved budgets, identifying variances, trends, and root causes, and recommending corrective actions.
• Produce clear, credible, and timely cost forecasts, including Estimates at Completion (EAC), based on actuals, commitments, trends, and identified risks.

Forecasting Scope 

• Near‑term rolling forecasts (e.g. six‑month outlooks).
• Long‑term EACs across large, complex programmes (£15m–£150m).
• Clear articulation of cost risks, opportunities, assumptions, and confidence levels.

 Reporting & Tools

• Design, develop, and maintain standardised cost tools, templates, and dashboards to support consistent, accurate, and insightful reporting for a range of stakeholders.
• Provide high‑quality cost inputs into programme reviews, governance forums, senior leadership reporting, and customer-facing updates.

Business Partnering & Decision Support 

• Act as a trusted cost management partner to programme teams, supporting financial planning, scenario analysis, and cost‑based decision‑making.
• Perform cost risk analysis and scenario modelling to support proactive management of financial exposure and contingency.
• Support the embedding of effective cost control disciplines across programmes through coaching, guidance, and pragmatic application.

Financial Integration 

• Work closely with Finance and Procurement teams to validate invoices, manage cost allocations, and ensure accurate and timely cost capture.
• Support reconciliation of costs across bids, approved budgets, baselines, forecasts, and customer cost statements.

Skills & Competencies: 

• Strong analytical and numerical capability, with the ability to interpret, challenge, and clearly explain complex cost information.
• High proficiency in cost management tools and advanced Microsoft Excel.
• Sound understanding of project management principles and core financial concepts.
• Excellent communication and stakeholder management skills, with the confidence to influence and collaborate at all levels.
• Strong attention to detail, combined with the ability to work under pressure and manage multiple priorities to tight deadlines.
• A collaborative, solutions‑focused mindset with a strong customer and delivery orientation.

Experience:

Essential

• 3–5 years’ experience in project cost management, project controls, or a closely related discipline.
• Working knowledge of ERP systems and cost tracking / cost control software.

Desirable

• Experience working across integrated delivery and control toolsets such as IFS (or equivalent ERP systems, e.g. SAP), MS Project, and Jira.
• Proven ability to reconcile and assure cost data across bids, approved budgets, baselines, forecasts, and customer cost statements.
• Experience supporting large, complex programmes or portfolios in a matrix environment.

Note: All candidates must meet the security vetting requirements relevant to the role. For reasons of national security, applicants must be British nationals.  Dual nationals may be permitted in exceptional circumstances. 

Apply now or send your CV to escocareers@coretalent.co.uk