What are the responsibilities and job description for the Cost Manager position at Infrastructure Engineering Inc.?
Join us at the intersection of
INGENUITY & INCLUSION
About the Role
Infrastructure Engineering Inc. (IEI) is looking for a Cost Manager to join our Project Controls Team in our Chicago Office! We are a leading engineering firm known for quality and responsiveness and a proven track record of success as a Prime civil engineering firm. As a Cost Manager, you will play a critical role in managing and controlling project costs, ensuring financial transparency, and contributing to the successful delivery of projects within budget constraints. You will work closely with project managers, engineers, and other stakeholders to develop, monitor, and report on project budgets and expenditures. Join us on this exciting journey as we continue to build a company based on Integrity, Excellence, and Ingenuity!
Essential Duties and Responsibilities
Cost Control:
• Implement cost control measures to prevent cost overruns and deviations from the budget.
• Identify cost-saving opportunities and recommend cost-effective solutions.
• Work with project managers to assess change orders and their impact on project costs.
• Create and maintain project budgets, tracking expenses and commitments throughout the project lifecycle.
• Monitor budget variances and proactively address any discrepancies.
• Assist in the preparation of budget reports and financial forecasts.
Cost & Funding Management:
• Assist Senior Project Manager and Project Manager with funding management activities.
• Provide regular project status reports for outside agencies providing funding for the project, which includes but is not limited to the CTA, the City of Chicago, IDOT, RTA and other sources.
• Support the PM to maintain the program cost reporting system that will provide timely data and detail to enable the IEI to control and adjust the project requirements and needs to complete assigned projects within the approved budget.
Cost Reporting:
• Prepare and present regular cost reports and analyses to project teams and senior management.
• Communicate financial performance, cost trends, and risks associated with project expenditures.
• Maintain accurate cost records and ensure compliance with project accounting standards.
Subconsultant and Vendor Management:
• Verify the accuracy of subconsultant invoices and reconcile discrepancies.
• Evaluate vendor and supplier proposals, negotiate contracts, and manage vendor relationships.
• Monitor supplier performance and assess cost performance.
Pay Application Management:
• Review and verify all contractor applications for payment and supporting documentation for completeness and accuracy including percentage of work completed, DBE payment status reports, monthly progress reports, and waivers.
• Review and approve cost allocations and tracking required for funding agencies, including CTA, and City of Chicago TIF eligibility of costs included within each Contractor’s pay application. The Cost Manager will also review and verify Contractor supporting documentation for allowance reimbursements.
Regulatory Compliance:
• Ensure that all cost management activities comply with relevant laws, regulations, and company policies.
• Keep abreast of industry best practices and updates in cost management techniques.
To Be Successful
• Bachelor’s degree in Construction, Quantity Surveying, Engineering or a related field. Will consider bachelor’s degree in finance or accounting, with related experience. Master's degree preferred.
• Five (5) plus years related experience required
* Proven experience in cost management, project controls, or related roles in the construction, engineering, or infrastructure sectors.
• Proficiency in cost estimation, budgeting, and financial analysis.
• Strong analytical and problem-solving abilities.
• Strong knowledge of project management principles and methodologies.
* Advanced skills in Excel, including pivot tables, vlookups, macros and other advanced functions
• Experience engaging and influencing senior stakeholders, presenting information to drive decision making
• Skilled in extracting information from vendor and internal data for estimating purposes
• Identify areas if concern/opportunity and recommend corrective actions
• Familiarity with cost management software and tools.
• Excellent communication and interpersonal skills.
• Ability to work independently and as part of a cross-functional team.
• Relevant industry certifications (e.g., CCMP, CCC, CCE, PMP) are a plus.
Benefits and Perks
- Highly competitive salary; and Bonus opportunities
- Flexible Work Schedule
- Medical, Dental, and Vision Benefits
- Personal Paid Leave (Paid Time-Off)
- Paid Holidays
- Life Insurance
- Short and Long-term Disability Program
- 401K Program with Employer Match
- Profit Sharing
- Employee Assistance Program
- Employee Referral Program
- Employee Appreciation Program
- IEI University
- An opportunity to learn and grow - Professional Development Program
- Opportunity to share ideas and express your point of view
- You are welcome to be your authentic self
- Philanthropic Outreach and Volunteer Opportunities
Physical Demands
The physical demands described here represent those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform essential functions. While performing the duties of this job, the employee is frequently required to sit and talk or hear. The employee is occasionally required to stand; walk; use hands to fingers, handle, or feel objects, tools, or controls; climb; reach with hands and arms; and stoop, kneel, crouch, or crawl. The employee may lift and/or move up to 10 pounds and occasionally lift and/or move up to 25 pounds.
Work Environment
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform essential functions. While performing the duties of this job, the employee may occasionally work outdoors in various weather conditions, possibly for an extended period of time, depending on the assignment type. The noise level in the office work environment is usually moderate. The noise level on the construction site is often loud and may require the use of hearing protection.
IEI is an Equal Opportunity Employer and is committed to the principles of equal opportunity for all employees and applicants for employment.
Applicants must be authorized to work for ANY employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa at this time.
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