Reporting into the Costing Manager, the primary role of the Cost Analyst is to prepare and maintain the master costing sheet and the customer compensation sheets for Level 2+ tenders in accordance with the scope of work and commercial requirements of the ITT. 
The Cost Analyst will use historical commercial data and commercial intelligence to develop cost estimates for Level 2+ tenders, as well as liaise with Sourcing and the Vendor community to obtain quotations, ensuring the quotations are accurate, valid, and competitive. 
 
Responsibilities 
A more detailed listing of the roles and responsibilities is provided below: 
• Create a costing spread sheet that accurately reflects the scope of work and costing responsibilities. 
• Obtain costs for each element on the scope of supply, either via historical data or obtaining quotations. 
• Develop and maintain close working relationships with the supporting functions that provide input into the costing processes (e.g. Engineering, Finance, Tax, Sales, Logistics, Manufacturing, Supply Chain) 
• Ensure all elements of the scope of work have been covered in the costing spread sheet. 
• Ensure all costs required to deliver the project are included in the project&
39;s cost of sales. 
• Ensure any capital expenditure required to deliver the project is communicated to the sales and tender lead for management approval. 
• Review all quotations received from 3rd party vendors for compliance with the costing instructions. 
• Review all incoming costs for completeness and compare with similar/recent benchmarks to ensure competitiveness 
• Conduct challenges to the costing, when necessary or at the request of the Costing Manager, Tender Lead or Sales Lead 
• Ensure the commercial requirements within ITT documents are reviewed and the necessary exceptions and qualifications are raised. 
• Apply estimating allowances, as required, to reflect uncertainties within the base costing. 
• Prepare P&L&
39;s, commercial Gate Approvals slides and tender compensation sheets. 
• Ensure compensation sheets are compliant with customer instructions and reflects instructions received at the various Gate Approval reviews 
• Manage the costing aspects of the post-tender clarification process and maintain a clear and traceable history of cost changes for each tender during the tender clarification phase 
• Complete a commercial handover package to the execution team. Ensure information is prepared within the set deadlines 
• Maintain a commercial/costing database to record and review data from historical commercial contracts to support commercial decision making during various stages of the tender cycle. 
 
Minimum Job Qualifications 
• Degree qualified in Engineering, Business, Finance or related field is preferred.• 5 years' experience in relevant, related fields • Working knowledge of SAP• Strong working knowledge of Excel• Strong understanding and appreciation of commercial terms and mechanisms• Strong understanding and appreciation of project and product cost structure, market pricing and P&L's• Understanding and appreciation of tax and finance mechanisms.• Understanding of typical engineering bill of materials• Understanding and appreciation of contract law• Proven ability of working in a high-pressure environment with the minimal of support• Excellent organisational skills and the ability to multitask. • Well-developed interpersonal and communication skills.• Attention to detail and ability to think laterally.

COST ANALYST

Job Overview & Requirements

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