Senior Cost Engineer

Wood is currently looking for an experienced Cost Engineer to join us in our Stockton office on a full time, contract basis.

Our Clients and Projects 

Designing the future. Transforming the world.

Wood delivers solutions across more than 60 countries with local offices covering all major energy and materials hubs globally. 

For more than 160 years, we have partnered with clients to deliver engineering, advisory and operational solutions to some of the world’s most complex and critical challenges in energy and materials.

#LI-Hybrid

What we can offer

• Meaningful and interesting projects delivered to leaders of industry across emerging energy sectors
• Commitment to Diversity and Inclusion; we are an organisation actively committed to diversity and inclusion across our business
• Competitive salary with regular salary reviews to ensure we are rewarding at the right level in line with the market
• Flexible benefits package; inclusive of 33 days annual leave (including public holidays), generous contributory pension scheme, private medical cover, 4x base salary life insurance; all of these and more that can be adapted to suit your own lifestyle
• Commitment to continued professional development; development plans that are tailored to your individual needs and interests
• Global connections: join experts around the world who are at the leading edge of our industry, shaping the standards of our profession

The role

As a Cost Engineer, you will prepare and report on project cost budgets, and the tracking, management and reporting of project expenditure to enable robust control of projects throughout their life cycle. You will support senior members of the cost team through the preparation and reporting of project cost budgets, ensuring budgets and reports are prepared to the required level of detail and accuracy in accordance with contractual requirements and Wood policies, procedures and standards. This will typically involve the review, analysis and reporting of actual and forecasted project costs against the project approved budget.

• Accountable for budgets, commitments, VOWD, cash calls, change control and cost phasing.
• Ensure accurate cost data, actuals mapping, and reporting across bp and IJV systems.
• Deliver accurate forecasts and assure the integrity of the project's final cost position.
• Produce and present cost reports for internal and external stakeholders.
• Analyse cost performance, provide insights, and maintain detailed actuals tracking.
• Support change management processes, including budget transfers and cost impacts.
• Manage cost reporting requirements related to intercompany charges and commercial agreements
• Develop and maintain understanding of execute contract packages and remuneration strategies.
• Support variation control and management alongside the Contract Administration team.
• Participate in payment certificate verification with CAM and Contract Administration.
• Facilitate monthly MPR cost management reviews within PDU review meetings.
• Establish and maintain trend management processes, identifying key cost drivers and risks to support forecasting.
• Understand and analyse progress measurement systems in collaboration with PCM, Planning, and estimating teams.
• Provide cost management support across a diverse portfolio of execute-phase activities.
• Partner with Finance, Procurement, IJV teams and contractors to support effective cost management.

What makes you remarkable?

At Wood, we are committed to equal opportunities and welcome all talented individuals to consider joining our team. So even if you don't match every statement below but feel you have some of the experience, knowledge or skills needed for this role, we encourage you to apply. It will take all of us working together to deliver solutions to the world’s most critical challenges. 

• Typically requires ISCED level 6 (Bachelors) Degree in a relevant technical or business discipline (or equivalent gained through relevant vocational training and/or industry experience) 
• Incumbents will typically have relevant cost experience
• Proficient knowledge of cost software and related principles, tools and techniques including budgeting, forecasting and cash-flow
• Proficient knowledge of Project Execution Procedures for Cost Management including Change Management
• Proficient understanding of WBS & CBS structures and project reporting capabilities
• Proficient ability to develop project cost budgets and change estimates
• Proficient ability to prepare cost reports
• Understanding of change management and associated cost and schedule processes
• Understanding of earned value application, cost and schedule variance analyses/trending and what-if scenarios
• Understanding of project management principles and techniques
• Understanding of Cost Management, Change Control, Planning & Risk Analysis & Management