The Cost Lead is part of the PMO team responsible for ensuring effective cost control is maintained via timely and accurate reporting and analysis as part of the Restoration and Renewal (R&R) programme’s integrated delivery team.
This role will be responsible for leading the Cost function on the Sizewell C Project, providing Cost Management for the programme’s identified projects, and coordinating updates to the programme’s Cost Report, demonstrating the accrued cost position, EAC, and performance comparable to the baseline.
They will work closely with Commercial to ensure that the contractual positions are accurately reported, and any variances are identified. They will also work closely with Finance to ensure confidence in the SAP System in the provision of an accurate, substantiated and valid ‘Single Source of Truth’ for the reported Actual Cost.
The Cost lead will primarily be responsible for developing, managing and maintaining the Cost Management system and processes for forecasting within the Supply chains for SZC. This includes, but is not limited to, developing and maintaining a suitable Cost department, Policy, Strategy, Management Plan, Processes and procedures for the delivery of Cost Management and Value at Corporate, Business and functionality levels, with specific responsibility for providing Cost assurance to the Senior leadership team and key stakeholders.
SZC is ultimately owned by two shareholders, EDF and HMG. The shareholders hold their investment in SZC through NNB Holdings Company (SZC) Limited. Over the course of the current shareholding arrangements the shareholdings of the two shareholders will change.
The shareholders will fund SZC up until Financial Close through equity in line with the approved schedule and budget. SZC’s business is to design, finance, construct, commission, operate, maintain, and eventually decommission the nuclear power plant and related infrastructure (including activities relating to hydrogen, direct air capture and/or desalination) at Sizewell C in Suffolk. The principal objectives of the current development phase of the SZC project are to agree and implement the Capital Raise Plan, including completing an equity and debt raise, agree the core supply chain contracts and obtain the regulatory permits and licences required for the construction phase of the Project (including the core environmental permits and nuclear site licence).
Prior to the government investment decision SZC operated as part of EDF in the Nuclear Development business unit and was staffed by EDF colleagues and independent contractors who are now in the process of transferring to the direct employment of SZC. It is setting itself up as an organisation capable o
delivering a new nuclear power plant, from investment case and funding, to construction, commissioning, operations, maintenance and decommissioning.
The SZC construction programme has a technical and commercial business case predicated on technical replication of Hinkley Point C. EDF will be an important supplier of nuclear capability for the SZC Programme from its established nuclear business footprint in the UK.
Key stakeholders are: UK Government, relevant Government departments and agencies including Treasury BEIS, EDF, Financial investors and institutions, Regulators, Alliance partners and local communities.
Principal Accountabilities, Activities and Decisions
The post holder will be responsible for:
• Leading on the development of Cost Management tools and the implementation of the Cost Management system, through selection, development and roll out to ensure the accuracy of reported costs.
• Overall responsibility for the Cost management function and team within the Project.
• Development and continuous improvement of the programme’s Cost Management Strategy & Plan and all associated processes and procedures required to deliver effective and efficient cost reporting and analysis for the programme.
• Lead any cost re-baselines, forecast and budgets required by the programme.
• In support of the wider PMO team’s responsibilities for monthly reporting, to ensure the cost and resource data for the programme is completed on time and in line with the programme’s Reporting Calendar.
• Develop, implement, and maintain the programme’s approach to future cost analysis (inc. Earned Value or equivalent), and to establish a Trend Management Process to enable the controlled management and variation of the programme’s EAC.
• Lead in conjunction with Commercial the establishment of rules of credit with Supply chain teams.
• Maintain and implement changes to the programme’s cost baseline in conjunction with Change Management and Commercial, and in line with the programme’s Reporting Calendar, and assist with the assessment of change in line with the established Commercial and Change Sub Committee (CCSC) process and timelines.
• Undertake and maintain suitable assurance checks to ensure all cost data reported is robust and an accurate reflection of the programme’s current position.
• Responsible for 4 Direct Reports and up to 20 indirect reports in the discipline in SZC as a whole
• Responsible for overall SZC Cost Reporting Governance and quality
• Accountable for establishing the monitoring process for Contingency drawdown and baseline management
Qualifications, Knowledge & Skills
• Educated to professional standard and membership of an appropriate body and to degree level or equivalent.
• Excellent Excel and Microsoft Office skills.
• Ability to communicate cost and performance information to peers/managers/client in a way that is understood by all, especially those with limited knowledge of project controls.
• Pro-active and able to thrive in a fast-past and dynamic environment.
• Good attention to detail and skilled in interpreting and analysing cost and resource data.
• Comfortable with challenging assumptions and processes in order to constantly improve the delivery of performance data.
• Detailed working knowledge of cost engineering functions, including cost estimating, cost control, and cost analysis.
• Experience of identifying, analysing, and solving problems.
• Strong understanding/ working knowledge of Cost engineering/ forecasting tools (such as PRISM/ EcoSys/ Cobra)
• Advanced working knowledge of Earned Value Methodologies
• Experienced in managing a team
• Experienced in working within Project Controls in a Major Programme environment
• Knowledge of engineering, procurement, forms of contracts and construction generally.
• Knowledge of engineering and construction management customarily acquired over time through specialised instruction or practical experience