Cost Analyst II

About us 

Worley is a global company of energy, chemicals and resources experts headquartered in Australia. We partner with our customers to deliver projects and create value across the life of their assets. We specialize in consulting, engineering, procurement and construction across the project lifecycle, with services extending through to operations and decommissioning. Leveraging extensive experience and AI-enabled delivery, we support customers in navigating complexity as they meet todays needs and transition to more sustainable solutions. 

Primary Objectives / Responsibilities

• Provide Project Management and stakeholders with accurate cost forecasts based on project scope, approved budgets, commitments and actual expenditure.

• Support decisions with cost analysis, forecasts and recommended corrective actions where required.

• Prepare and maintain weekly and monthly cost reports in line with established procedures and project requirements.

• Monitor costs, commitments and expenditure to control budgets throughout the project lifecycle.

• Implement and maintain effective cost control systems, processes and reporting mechanisms.

• Support continuous improvement in Project Controls to enhance cost management effectiveness and efficiency.
   

Specific Accountabilities

• Establish and maintain Work Breakdown Structures (WBS) and Cost Breakdown Structures (CBS) for effective budget control.

• Assign and track budgets to provide a clear baseline for project performance measurement.

• Allocate commitments to approved budgets and verify that sufficient funding is available.

• Develop accurate Forecast at Completion (FAC) assessments from commitments, expenditure, trends and expected costs.

• Evaluate scope, schedule and cost changes against approved baselines to support change management.

• Apply cost accounting controls to ensure invoices and expenditure remain within approved commitments and budgets.

• Promote cost awareness within project teams.

• Analyse cost performance to identify trends, risks and opportunities for improvement.

• Deliver accurate and timely cost analysis for project reporting.

• Support the Project Controls Team Lead with additional Project Controls activities as needed.

Essential Skills and Experience

• A bachelor’s degree in Engineering, Quantity Surveying, Finance or Construction Management.
• A minimum of 12 years’ experience in the oil and gas, energy, infrastructure or industrial sectors.
• Demonstrated experience with reimbursable engineering contracts, including contractual billing rates, recoverable costs and invoicing requirements.
• A minimum of 4 years’ experience in leadership or supervision of Cost Engineers or Project Controls personnel.

Required Competencies

• Cost Management and Project Controls
  • Sound knowledge of cost management, budgeting and cost control principles.
• Systems and Reporting Tools
  • Proficient in project management, ERP, financial and cost management systems, with advanced Microsoft Excel and reporting tool skills.
  • Cost Structures and Commercial Requirements
  • Thorough understanding of Work Breakdown Structures (WBS), Cost Breakdown Structures (CBS) and cost reporting methods.
  • Knowledge of commercial contract requirements and their application to project cost management.
  • Practical understanding of revenue recognition principles, month-end financial accruals, unbilled revenue and VOWD, including reconciliation with Finance
• Forecasting and Performance Analysis
  • Ability to work with project teams on forecasting, performance analysis and problem-solving, using earned value analysis, productivity measurement, risk analysis, contingency forecasting and reporting skills.
• Self-Management and Stakeholder Communication
  • Self-driven and able to work independently while balancing competing priorities.
  • Ability to develop and present material to internal and external stakeholders.
• Process Improvement
  • Ability to establish and refine cost management processes, procedures and reporting methods.

Moving forward together

We want our people to be energized and empowered to drive sustainable impact. So, our focus is on a values-inspired culture that unlocks brilliance through belonging, connection and innovation. Were building a diverse, inclusive and respectful workplace. Creating a space where everyone feels they belong, can be themselves, and are heard.

And were not just talking about it; were doing it. Were reskilling our people, leveraging transferable skills, and supporting the transition of our workforce to become experts in todays low carbon energy infrastructure and technology. Whatever your ambition, theres a path for you here.

And theres no barrier to your potential career success. Join us to broaden your horizons, explore diverse opportunities, and be part of delivering sustainable change.