Job description

Position: Cost Analyst
Location: Merrillville, IN 46140
Duration: 6+ months contract position with strong possibility of extension
Shift timing: Monday to Friday 8.00 am-5 pm

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 Junior Cost Analyst will perform in accordance with Industry standards, the NIPSCO Project Management Guidelines and Standards, and industry best practice. Makes routine decisions and recommendations using established guidelines, procedures or polices.
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.
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.
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

Job Type: Contract

Salary: $26.00 per hour

Schedule:

• 8 hour shift
• Day shift
• Monday to Friday

Education:

• Bachelor's (Required)

Experience:

• Accounting: 4 years (Preferred)
• Cost accounting: 4 years (Preferred)

Work Location: One location

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