Engineering Capital -Cost Control Specialist

The Project Portfolio Cost Control Specialist supports the Engineering Capital Portfolio and Project Management Office (PMO) by ensuring financial governance, cost transparency, and fiscal discipline across capital projects. This role provides portfolio-level cost control, forecasting, reporting, and financial analysis for engineering initiatives, including facility construction, manufacturing expansions, infrastructure improvements, and technology upgrades.

The specialist works closely with Engineering, PMO, Finance, Procurement, and Project Management teams to monitor project costs, analyze financial performance, manage forecasts, and support strategic capital planning.

Key Responsibilities

• Implement and maintain standardized cost control processes and tools aligned with PMO and capital portfolio governance standards.
• Establish and maintain project budgets in collaboration with project managers, ensuring alignment with project scope, schedule, resources, and risk.
• Monitor and track actual costs, commitments, and forecasted expenditures at both project and portfolio levels.
• Perform variance analysis and identify root causes of cost deviations, escalating risks related to budget overruns, delays, or scope changes.
• Track contingency usage and ensure proper allocation and reporting.
• Prepare and deliver financial reports, dashboards, and executive summaries for Engineering leadership, PMO, and Finance stakeholders.
• Develop and maintain portfolio-level forecasts, including cash flow projections and cost-to-complete estimates.
• Provide scenario analysis, financial modeling, and risk-based forecasting to support decision-making.
• Support long-range planning and annual capital budgeting processes.
• Monitor and manage cost impacts associated with project scope changes, engineering change requests, and change control activities.
• Evaluate financial risks and support mitigation strategies to maintain project budget integrity.
• Assess cumulative impacts of changes across the capital portfolio.
• Partner with Engineering, Construction, CQV, Automation, Quality, Procurement, and Project Management teams to support cost estimating, financial planning, and budget management.
• Support project gate reviews, capital investment approvals, and funding requests.
• Ensure financial documentation is complete, accurate, and compliant with internal policies and governance requirements.
• Support vendor financial tracking, including contract financial analysis, milestone validation, and payment verification.
• Ensure alignment with capital project governance, internal financial controls, and regulatory requirements.
• Maintain audit-ready documentation and support internal and external financial reviews or audits.
• Ensure compliance with corporate capital expenditure policies and financial procedures.
• Monthly and quarterly portfolio cost reports and executive dashboards
• Project and portfolio variance analysis reports
• Cash flow forecasts and contingency utilization reports
• Cost impact and scenario analysis documentation
• Financial documentation supporting capital approvals and project gate reviews
• Cost optimization and efficiency improvement recommendations

Education

• Bachelor’s degree in Finance, Engineering, Accounting, Business, or related field

Preferred:

• Master’s degree (MBA, Finance, Engineering, or related field)
• PMP (Project Management Professional), CCP (Certified Cost Professional), or equivalent certification

Experience

• Minimum of 5 years of experience in capital project cost control, financial planning, or project controls within engineering or regulated manufacturing environments
• Experience supporting capital projects such as facility construction, infrastructure upgrades, or manufacturing expansions
• Experience working within project portfolio management or PMO environments

Required Skills and Competencies

• Strong cost control, forecasting, budgeting, and financial analysis skills
• Ability to perform variance analysis and develop financial forecasts
• Experience with financial modeling and scenario analysis
• Experience with ERP and project management systems such as:
• SAP
• Primavera P6
• Microsoft Project
• Excel (advanced level preferred)
• Understanding of capital project lifecycle and stage-gate processes
• Knowledge of capital expenditure (CAPEX) planning and governance
• Experience supporting multi-project portfolios
• Strong communication and presentation skills
• Ability to work cross-functionally with Engineering, Finance, PMO, and leadership teams
• Ability to present financial information to technical and non-technical stakeholders
• Strong organizational and documentation management skills
• Understanding of financial controls and audit readiness requirements
• Ability to manage multiple projects and priorities simultaneously

• Contract Position