The Cost Management Lead oversees all aspects of project budgeting and cost control. The role holder is responsible for leading a team of cost managers within the PMO function. The role holder develops and implements robust cost control processes and ensures compliance with industry standards. The Cost Management Lead collaborates with various project leads to ensure cohesive planning and execution, while driving continuous improvement initiatives within the cost management function. The role also requires proven experience operating within a large, complex major programme of strategic significance, demonstrating the ability to navigate high鈥憊alue, multi鈥憇takeholder delivery environments.
Responsibilities
- Lead the implementation and management of cost control processes, ensuring project budgets, expenditures, forecasts, and cash flow are accurately monitored and maintained.
- Manage overall project budgeting and financial performance, ensuring alignment with project objectives, constraints, and compliance with relevant regulations, standards, and best practices.
- Produce detailed cost reports, variance analyses, scenario models, and financial forecasts, presenting insights and recommendations to senior management for cost optimisation and informed decision鈥憁aking.
- Collaborate closely with project managers, functional leads (Cost Estimating, Scheduling, Scope & Benefits, Systems Implementation, Change Management), Finance, Procurement, and other stakeholders to support integrated project planning and delivery.
- Identify, assess, and mitigate cost-related risks, providing analysis and guidance on cost鈥憇aving opportunities and value鈥慹nhancing initiatives.
- Support procurement activities, including prequalification, tender preparation and evaluation, contract analysis, and contract preparation, ensuring accuracy and alignment with project requirements.
- Drive continuous improvement across the cost management function by adopting industry best practices and innovative approaches.
- Perform additional duties as required to support successful project delivery.