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Project Cost Analyst (Associate, Analyst, or Senior Analyst)

Job Summary

NiSource is seeking a Project Cost Analyst to provide integrated project cost management across electric and gas transmission, distribution, and generation capital projects ranging from $500K to $400M. This position may be filled at the Associate Project Cost Analyst, Project Cost Analyst, or Senior Project Cost Analyst level based on the candidate's experience, qualifications, and demonstrated competencies.

The successful candidate will support project teams by integrating cost management processes with project scope, schedule, risk, quality, and contract management throughout the project lifecycle. This role is responsible for cost planning, forecasting, monitoring, reporting, analysis, and performance management while utilizing industry standards and best practices to drive informed project decision-making.

The Project Cost Analyst will collaborate closely with project managers, project controls professionals, contractors, and other stakeholders to develop and maintain project budgets, cost performance baselines, forecasts, and reporting that support successful project execution.

Key Responsibilities

Cost Management & Forecasting

• Develop, maintain, and analyze project budgets, cost forecasts, and Estimate at Completion (EAC) metrics.

• Perform project cost initiation, planning, execution, monitoring, control, and closeout activities.

• Support integrated project planning and baseline development to effectively measure and manage project performance.

• Evaluate labor hours, labor costs, manpower requirements, and project expenditures against approved budgets.

• Monitor project performance and recommend corrective, preventive, and predictive actions.

• Provide standard and ad hoc cost reporting and analysis for project stakeholders.

• Support lifecycle cost estimating and forecasting activities to improve predictability and project outcomes.

Project Controls & Risk Management

• Integrate cost management with scope, schedule, risk, quality, and contract management processes.

• Apply earned value management principles and cost performance measurement techniques.

• Utilize quantitative and qualitative risk analysis tools and techniques to improve cost forecasting and project performance.

• Support risk-informed project planning and baseline development.

• Partner with project teams to identify cost risks, opportunities, and mitigation strategies.

• Use schedule analysis techniques to optimize cost and schedule performance.

Contract & Commercial Management

• Support contract commercial management activities including payment processing, performance assessments, and forecasting.

• Review contracts and supporting documentation to verify compliance with payment requirements.

• Perform contract performance analysis and reporting to identify trends and opportunities for improvement.

Process Improvement & Stakeholder Engagement

• Support the implementation and continuous improvement of project management standards, guidelines, tools, and best practices.

• Collaborate with project stakeholders to ensure accurate and timely dissemination of cost information.

• Promote integrated thinking across project controls disciplines to enhance project performance.

• Assist project managers, leadership, and stakeholders with cost management reporting and decision support.

• Apply industry standards and best practices, including AACE, PMI, and Construction Management methodologies, to project cost management activities.

Leveling Expectations

Associate Project Cost Analyst

• Develop foundational skills in project cost management, forecasting, reporting, and project controls.

• Support project teams with cost tracking, reporting, and data analysis.

• Works under general supervision while building project management and cost management expertise.

Project Cost Analyst

• Independently manage cost analysis, forecasting, reporting, and budget controls for assigned projects.

• Apply project controls methodologies to identify risks, trends, and performance improvement opportunities.

• Partner directly with project managers and stakeholders to drive project cost performance.

Senior Project Cost Analyst

• Lead complex cost management efforts for large-scale capital projects and programs.

• Provide advanced forecasting, risk analysis, earned value management, and project controls expertise.

• Mentor junior analysts and influence project controls processes, standards, and best practices.

• Serve as a trusted advisor to project and business leadership regarding cost performance, forecasting, and risk mitigation strategies.

Required Qualifications

Associate Project Cost Analyst

• High School Diploma or GED required.

• Minimum 3 years of experience utilizing Microsoft Excel or equivalent software for data management, analysis, and reporting.

• Valid driver's license upon hire.

Project Cost Analyst

• Bachelor's degree in Business, Accounting, Finance, Construction Management, Engineering, Project Management, or a related field preferred.

• 3+ years of cost analysis, financial analysis, project controls, project management, accounting, construction, engineering, or related experience.

• Demonstrated proficiency in Excel and reporting tools.

• Experience supporting project budgets, forecasting, and performance reporting.

Senior Project Cost Analyst

• Bachelor's degree in Business, Accounting, Finance, Construction Management, Engineering, Project Management, or a related field preferred.

• 7+ years of experience in project controls, cost management, financial analysis, capital project management, construction management, or similar disciplines.

• Advanced knowledge of project cost forecasting, earned value management, risk analysis, and project controls methodologies.

• Experience supporting large-scale industrial, utility, energy, infrastructure, or capital projects.

Preferred Qualifications

• Experience in large industrial, utility, energy, or capital project environments.

• Knowledge of AACE, PMI, or other project controls standards and methodologies.

• Experience with project controls, forecasting, scheduling, cost management, and risk management tools.

• Professional certifications such as PMP, CCP, EVP, PSP, or similar credentials are a plus.

Physical Demands

The preceding description is not intended to be an exhaustive list of all duties, responsibilities, or qualifications associated with this position. Responsibilities may change based on business needs and organizational priorities.