Estimating – Project Cost Analyst Sr-American Electric Power

Job Description

Job Title: Estimating – Project Cost Analyst Sr

Company: American Electric Power

Location: New Albany, OH

Pay: $85081 – 106352.5 per year

AI Pay Analysis: The annual salary range of $85,081 to $106,352.50 for the role of an Estimating – Project Cost Analyst Sr in New Albany, OH translates to an hourly rate of approximately $40.87 to $51.05, which is generally competitive within the construction and project management fields. According to industry standards, salaries for similar positions vary significantly depending on experience, company size, and project complexity, with average salaries for Project Cost Analysts typically ranging from around $70,000 to over $100,000 per year in the Midwest region. Thus, this compensation package appears to be in line with, and possibly above, the market average for such roles, particularly for those with advanced experience or specialization in cost estimation.

Job description:

Job Posting End Date: 03-11-2025. Please note that the job posting will close the day prior to the posting end date.

Job Summary
This position is responsible for coordinating project cost analysis and control efforts for team activities that support Project Managers (PMs) and other staff. The role involves oversight of cost reporting for multiple projects and the monitoring of project budgets, ensuring an accurate reflection of project costs on large and complex initiatives with minimal supervision. Key responsibilities include budgeting within the AEP corporate systems, providing ongoing forecast updates and variance analyses at both the program and project levels, and the input and tracking of key performance indicators. This position requires collaboration with project teams to implement project management best practices throughout the project lifecycle. Additionally, it involves developing communication and partnerships with internal and external stakeholders. As a senior team member, the role entails leading training initiatives, driving continuous process improvement efforts, and developing tools and processes utilized by 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 ensure their integration into the overall project budget and schedule.

Essential Job Functions & Tasks:

1. Assist estimating staff in analyzing and understanding actual costs in relation to estimated costs throughout the Project Lifecycle Management Process.
2. Conduct cost-benefit analyses and financial modeling to assess the feasibility of projects and to support decision-making processes.
3. Exhibit economic and business acumen while understanding engineering & design, procurement, contracting, estimating, construction, and startup procedures.
4. Deliver actuals reporting services to estimators and external teams, facilitating comprehensive estimate versus EAC analyses to identify cost drivers and enhance project management decisions.
5. Lead and manage projects related to the Capital Improvement (CI) Revision process within the Estimating department and provide guidance to project management on securing new or revised estimates for funding needs.
6. Collaborate with regulatory staff to conduct actual versus estimate cost analyses for rate cases, ensuring accurate regulatory filings and supporting strategic initiatives and process improvements across the organization.
7. Understand and assess risks associated with capital projects, working with estimators and the Project Management Team to assign costs to identified risks.
8. Evaluate contractor bids to provide insights to the estimating administration team responsible for maintaining construction labor rates within the estimating application and to project management.
9. Train and gain proficiency in utilizing estimating applications within the department.
10. Collaborate with various departments within AEP, including Financial Controls, Business Operations, Engineering, Project Management, Construction Management, and Engineering Standards.

Additional Requirements:

1. Demonstrated ability to effectively manage time, exhibit organizational and planning skills, and maintain a high level of accuracy and attention to detail to achieve goals.
2. Superior oral and written communication skills, coupled with a professional demeanor and strong commitment to customer service and teamwork.
3. Proficient in Microsoft Office 365 products, including Word, Excel, Power Apps, Power BI, Outlook, and PowerPoint.
4. A collaborative team player with the ability to work effectively with others.
5. Understanding and support of AEP’s policies, values, principles, structure, and behaviors.
6. Exposure to corporate accounting and project cost management systems, construction environments, earned value management, and scheduling systems is preferred but not required.
7. Familiarity with systems such as Cognos, Maximo, and PeopleSoft.

Minimum Requirements:
For the position of Project Cost Analyst Sr:
Basic Qualifications: An Associate’s degree or higher is required. Candidates with a bachelor’s degree must have four (4) years of relevant experience; those with an associate’s degree must have five (5) years of relevant experience. Qualified degrees must be in a related field from an accredited university or college, such as Accounting, Business, Construction Management, Engineering, Technology, or Project Management.
Travel requirements may involve up to 5% for potential visits to Roanoke or Tulsa for meetings.

Compensation Data
Compensation Grade: SP20-007
Compensation Range: $85,081.00 – $106,352.50 USD

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American Electric Power (AEP) reaffirms its commitment to providing Equal Employment Opportunity in all aspects of the employer-employee relationship, including recruitment, hiring, promotion, working conditions, training programs, compensation, benefits, transfers, discipline, layoffs, and termination of employment, without discrimination based on race, color, religion, sex, age, national origin, ethnicity, ancestry, veteran or military status, disability, genetic information, sexual orientation, gender identity, or any other basis prohibited by applicable law. When required by law, certain information must be recorded to develop an Affirmative Action Plan. Applicants for employment may also be invited to participate in the Affirmative Action Program by self-identifying their Race or Ethnic Identity.

Job Posting Date: Sat, 01 Mar 2025 23:54:39 GMT

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