Project Cost Analyst – Project Cost Analyst Sr-American Electric Power

Job Description

Job Title: Project Cost Analyst – Project Cost Analyst Sr

Company: American Electric Power

Location: New Albany, OH

Pay: $72380 – 90474.5 per year

AI Pay Analysis: The annual salary range of $72,380 to $90,474.50 for a Project Cost Analyst Sr position in New Albany, OH, translates to an hourly rate of approximately $34.77 to $43.49 based on a standard 40-hour workweek. This compensation appears competitive, particularly when considering the average salary for similar roles in the United States, which typically ranges from $65,000 to $110,000 annually, depending on experience and specific job responsibilities. Moreover, the cost of living in New Albany is relatively manageable compared to larger metropolitan areas, suggesting that this salary range aligns well with industry standards and offers a reasonable living wage for the region.

Job description:

Job Summary
This position is responsible for coordinating project cost analysis and controls for team activities in support of Project Managers (PMs) and other staff members. The role involves overseeing cost reporting for multiple projects and monitoring project budgets to ensure an accurate depiction of costs for large and complex projects, all performed under minimal supervision. Key responsibilities include entering budgets into AEP corporate systems, providing ongoing forecast updates and variance analysis at both the program and project levels, as well as tracking key performance indicators. The successful candidate will work collaboratively with project teams to implement project management best practices throughout the project lifecycle and foster strong communication and partnerships with both internal and external stakeholders.

As a senior team member, the individual will be expected to develop and conduct training, lead continuous process improvement efforts, and create tools and processes utilized within the workgroup. Depending on the assigned business unit, responsibilities may also include the creation of work orders and direct coordination with external contractors and vendors to integrate their input into the overall project budget and schedule.

Essential Job Functions:

• Facilitate project meetings and collaborate with project team members on various activities.
• Support PMs in the preparation and updating of project documentation and planning processes.
• Prepare forecasts for project spending and cash flows, monitor budget variances, and perform cost tracking and analysis.
• Provide analysis and verification for Sarbanes Oxley (SOX) activities, and assist in developing the annual budget, capital forecasts, five-year plans, and improvement requisitions, as necessary. Conduct estimate versus actuals analysis.
• Collaborate with PMs and other stakeholders to perform variance reporting and establish original baseline budgets that are time-phased in alignment with the project schedule.
• Create project breakdown structures.
• Perform departmental organizational functions as needed to ensure smooth project operations.
• Track, analyze, and submit verifying information for unvouchered liabilities (UVLs), maintain current and complete project system records, and oversee work order processes—from creation through in-servicing and closure.
• Assist in the contracting process, including bidding activities, cost analysis, and tracking.
• Communicate effectively with project teams, resources, and stakeholders regarding budgetary matters and collaborate with others for necessary support.
• Independently resolve moderately complex issues and address varied assignments while employing technical knowledge and analytical techniques.
• Develop and compile Key Performance Indicators (KPIs) for measurable outcomes (scope, budgeting, schedule performance, cost performance, forecasting, etc.), demonstrating strong teamwork and responding to inquiries from customers and vendors.
• Lead the administration of AEP project/work management organizational standards and assist in the overall management of projects. Adhere to guidance from the AEP Project Management Governance Committee and provide training to junior employees as appropriate.
• Develop expertise in multiple areas and mentor lower-level Project Cost Analysts, ensuring that training is completed and effectively applied.
• Recommend improvements that enhance project performance and AEP’s service delivery, as well as environmental stewardship.
• Depending on the business unit, advise contractors, vendors, suppliers, and less experienced project cost controls team members on obtaining and integrating project performance data.

Minimum Requirements:
Education:
An Associate’s degree or higher is required, with degrees in Accounting, Business, Construction Management, Engineering, Technology, or Project Management preferred. Candidates with a High School Diploma or GED must have four (4) years of experience as a Project Cost Analyst. Candidates with a qualified Associate’s degree must have six (6) years of relevant experience. A qualified Bachelor’s degree requires four (4) years of relevant experience.

Experience:
Qualified experience should encompass utility-specific operations knowledge and a thorough understanding of work processes and procedures. Experience should span design, operations, planning, project management, cost tracking analysis, forecasting, project budgeting, application of accounting principles, and/or systems or equipment construction and maintenance.

Licenses/Certifications:
A professional or trade certification such as CCMP, CETa, IQCP, PMP, or RMP is not required for this level, but it is necessary for progression to the Principal level if you hold a High School Diploma/GED or non-qualified higher education degree. Otherwise, certification is preferred at the Principal level.

Other Requirements:

1. Demonstrated ability to manage time, organize tasks, and maintain attention to detail with a focus on achieving goals.
2. Advanced technical knowledge in writing and verbal communication.
3. Proficiency in computer and MS Office products, including Word, Excel, Outlook, and PowerPoint.
4. Strong teamwork abilities and collaborative skills.
5. Availability for some travel, which may include overnight stays.
6. A commitment to supporting AEP’s policies, values, principles, structure, and behavior.
7. Capability to perform light physical duties safely and effectively across various work environments.
8. Experience with corporate accounting, project cost management systems, earned value management, and scheduling systems is required.
9. Flexibility to work overtime, call-out shifts, and varied schedules based on business unit needs.
10. Strong interpersonal skills with a client-focused approach.
11. Ability to interface effectively with various levels of contributors and management.
12. For positions related to nuclear operations, work may occur at nuclear power sites, potentially involving exposure to hazardous areas and radiation within prescribed limits.

Compensation Data:
Compensation Grade: SP20-006
Compensation Range: $72,380.00 – $90,474.50 USD

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American Electric Power (AEP) is committed to providing Equal Employment Opportunity in all aspects of the employer-employee relationship, including recruitment, hiring, promotion, and all other terms and conditions of employment, without discrimination based on race, color, religion, sex, age, national origin, veteran status, disability, genetic information, sexual orientation, gender identity, or any other basis prohibited by law. When required, we must record certain information to be included in an Affirmative Action Plan, and applicants may be invited to participate in this program by self-identifying their race or ethnic identity.

Job Posting Date: Sun, 09 Feb 2025 01:05:22 GMT

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