Cost Analyst

Title: Cost Analyst

Duration: Long Term

Location: Midland, TX

Travel Requirements: Per diem offered - Candidate must work office in Midland Texas

Position Summary

• The Project Cost Analyst provides Cost Control guidance, governance, and financial oversight for a portfolio of projects. This role is responsible for establishing control budgets, forecasting, and analyzing variances to ensure project financial integrity. The Analyst acts as a strategic partner to Project Managers and Finance teams, ensuring all project expenditures are tracked, measured, and reported accurately from inception through closeout.

Core Responsibilities

• Cost Management & Reporting: Develop and maintain project cost reports, forecasts, and variance analyses. Generate semi-monthly program metrics and monthly financial reports for Finance and senior leadership.
• Budget Oversight: Monitor project expenditures against approved budgets and Authorizations for Expenditure (AFE). Provide early warning of potential cost overruns and identify opportunities for cost savings.
• Financial Validation: Review and validate invoices, purchase orders, and contracts for compliance with specific cost coding and budget allocations.
• Forecasting & Planning: Support the preparation of cost estimates for new projects and change orders. Assist in cash flow forecasting and long-term financial planning.
• Earned Value & Risk: Apply Earned Value Management (EVM) principles to identify and analyze cost risks. Participate in "Health Checks" to verify the effective implementation of cost and schedule processes.
• Systems Maintenance: Maintain cost control systems and ensure data integrity within management software. Identify and resolve reporting errors while streamlining processes for better efficiency.
• Stakeholder Collaboration: Work closely with Project Managers, Planners, and support groups (Engineering, Procurement, Construction) to provide financial insights and data-driven recommendations.

Experience & Qualifications

• Education: Bachelor’s degree from an accredited university (Business Administration, Engineering, or Construction Management preferred).
• Industry Experience: 2–4 years of experience in cost management and project controls.
• Previous experience with major EPC operators or within the Oil & Gas/Energy industry is highly preferred.
• Technical Proficiency: Advanced skills in Excel, PowerPoint, and Word.
• Experience with cost control and ERP software (e.g., SAP, Oracle, or EcoSys).
• Familiarity with data visualization tools like Power BI and document sharing platforms (SharePoint/OneDrive).

Core Competencies:

• Solid understanding of project processes and life cycle stage gates.
• Familiarity with project planning and scheduling workflows.
• Strong analytical skills with the ability to manage a heavy workload
• Excellent communication skills for presenting financial data to audiences ranging from project teams to executive boards.

Working Conditions

• Ability to work effectively with teams dispersed over multiple geographic locations.
• Capable of working with low supervision to achieve group results and project closeout activities.