Senior Cost Specialist in Reading

Do you have extensive experience in cost engineering, budgeting, forecasting, Earned Value Management (EVM), and cost control within complex engineering, infrastructure, defence, or nuclear projects?

Have you managed project cost baselines, change control, risk and contingency budgets, and financial performance reporting throughout the full project lifecycle from bid phase through to project close out?

Would you like to play a key role in the successful delivery of some of the UK's most important nuclear projects, influencing project performance through robust cost management and project controls expertise?

The Opportunity

An exciting opportunity has arisen for a Cost Engineer to join a growing project controls function supporting major nuclear and infrastructure programmes.

This role has been created to strengthen project delivery capability and provide expert cost management support across complex projects throughout their lifecycle.

Working within a highly respected delivery organisation, you will be responsible for establishing and maintaining project budgets, controlling costs and forecasts, managing change and risk budgets, and providing financial performance reporting to internal and external stakeholders.

This position offers exposure to major projects while working alongside experienced project controls, commercial and project management professionals.

Key benefits include involvement in nationally significant projects, opportunities for professional development, flexible working arrangements, and the opportunity to contribute directly to project success through robust cost management and governance.

Your duties and responsibilities will be

• Develop, implement and maintain project baseline budgets and control account plans.
• Monitor, control and validate project accruals, commitments and resource forecasts.
• Manage project cost risk budgets, contingencies and associated drawdown activities.
• Administer and control project financial change management processes.
• Produce internal and external cost reports including Earned Value Management (EVM) and variance analysis.
• Support project forecasting, Estimates at Completion (EAC) and outturn cost reporting.
• Contribute to risk identification, cost risk analysis and opportunity management activities.
• Maintain Cost Breakdown Structures (CBS), responsibility matrices and project cost systems.
• Support project initiation, bid activities and commercial management functions.
• Act as a key interface between project teams, finance and clients on all cost and budget related matters.

You will have the following qualifications & experience

• Extensive experience in budgeting and cost control within a complex project environment.
• Strong understanding of project cost management principles and methodologies.
• Experience producing financial performance reporting and cost forecasting.
• Knowledge of change control, risk management and contingency management processes.
• Experience supporting projects throughout the full project lifecycle.
• Understanding of contract management and commercial principles.
• HNC qualification (or equivalent) in Cost Engineering, Quantity Surveying or a related discipline.
• It’s great if you also have the following
• Degree qualification in Engineering, Construction Management, Project Management or similar discipline.
• ECITB QCF Level 5 Diploma (or equivalent) in Cost Engineering.
• Professional membership such as ACost E, APM or RICS.
• Advanced Earned Value Management (EVM) experience.
• Experience within nuclear, defence, infrastructure or highly regulated environments.
• Knowledge of NEC, FIDIC, JCT or similar contract forms.
• Quantitative risk analysis experience.
• Experience using ERP and project controls systems.
• The setting for the role

This role is based within the Delivery Business Unit and offers flexible working arrangements.

You will work as part of a professional project controls team supporting major projects and programmes, collaborating closely with Project Managers, Project Controls Managers, Finance teams, Commercial teams and Clients.

The position provides opportunities to influence project performance through effective cost management, governance, reporting and risk based decision making across complex nuclear and infrastructure projects.

Millbank Holdings Ltd is an equal opportunities employer committed to creating an inclusive and diverse workforce.

We welcome applications from all suitably qualified individuals, regardless of background, and encourage candidates from underrepresented groups to apply.

We are proud to be a member of the Disability Confident Scheme, and we are committed to ensuring an accessible and supportive recruitment process for everyone.

If you require any adjustments at any stage, please let us know and we’ll do our best to accommodate.

Millbank operates as both an Employment Agency and an Employment Business.

Proud member of the Disability Confident employer scheme

About Disability Confident Disability Confident is a government scheme. It encourages employers to recruit and retain disabled people and those with long term health conditions.

Senior Cost Specialist

Company: Millbank Holdings Ltd Salary: £63 - £76 Hours: Full-time Location: Reading, RG30 3RR Job type: Contract Posting date: 26 Aug 2026 Closing date: 24 Sept 2026

Summary

Do you have extensive experience in cost engineering, budgeting, forecasting, Earned Value Management (EVM), and cost control within complex engineering, infrastructure, defence, or nuclear projects?

Have you managed project cost baselines, change control, risk and contingency budgets, and financial performance reporting throughout the full project lifecycle from bid phase through to project close out?

Would you like to play a key role in the successful delivery of some of the UK's most important nuclear projects, influencing project performance through robust cost management and project controls expertise?

The Opportunity

An exciting opportunity has arisen for a Cost Engineer to join a growing project controls function supporting major nuclear and infrastructure programmes.

This role has been created to strengthen project delivery capability and provide expert cost management support across complex projects throughout their lifecycle.

Working within a highly respected delivery organisation, you will be responsible for establishing and maintaining project budgets, controlling costs and forecasts, managing change and risk budgets, and providing financial performance reporting to internal and external stakeholders.

This position offers exposure to major projects while working alongside experienced project controls, commercial and project management professionals.

Key benefits include involvement in nationally significant projects, opportunities for professional development, flexible working arrangements, and the opportunity to contribute directly to project success through robust cost management and governance.

Your duties and responsibilities will be

• Develop, implement and maintain project baseline budgets and control account plans.
• Monitor, control and validate project accruals, commitments and resource forecasts.
• Manage project cost risk budgets, contingencies and associated drawdown activities.
• Administer and control project financial change management processes.
• Produce internal and external cost reports including Earned Value Management (EVM) and variance analysis.
• Support project forecasting, Estimates at Completion (EAC) and outturn cost reporting.
• Contribute to risk identification, cost risk analysis and opportunity management activities.
• Maintain Cost Breakdown Structures (CBS), responsibility matrices and project cost systems.
• Support project initiation, bid activities and commercial management functions.
• Act as a key interface between project teams, finance and clients on all cost and budget related matters.

You will have the following qualifications & experience

• Extensive experience in budgeting and cost control within a complex project environment.
• Strong understanding of project cost management principles and methodologies.
• Experience producing financial performance reporting and cost forecasting.
• Knowledge of change control, risk management and contingency management processes.
• Experience supporting projects throughout the full project lifecycle.
• Understanding of contract management and commercial principles.
• HNC qualification (or equivalent) in Cost Engineering, Quantity Surveying or a related discipline.
• It’s great if you also have the following
• Degree qualification in Engineering, Construction Management, Project Management or similar discipline.
• ECITB QCF Level 5 Diploma (or equivalent) in Cost Engineering.
• Professional membership such as ACost E, APM or RICS.
• Advanced Earned Value Management (EVM) experience.
• Experience within nuclear, defence, infrastructure or highly regulated environments.
• Knowledge of NEC, FIDIC, JCT or similar contract forms.
• Quantitative risk analysis experience.
• Experience using ERP and project controls systems.
• The setting for the role

This role is based within the Delivery Business Unit and offers flexible working arrangements.

You will work as part of a professional project controls team supporting major projects and programmes, collaborating closely with Project Managers, Project Controls Managers, Finance teams, Commercial teams and Clients.

The position provides opportunities to influence project performance through effective cost management, governance, reporting and risk based decision making across complex nuclear and infrastructure projects.

Millbank Holdings Ltd is an equal opportunities employer committed to creating an inclusive and diverse workforce.

We welcome applications from all suitably qualified individuals, regardless of background, and encourage candidates from underrepresented groups to apply.

We are proud to be a member of the Disability Confident Scheme, and we are committed to ensuring an accessible and supportive recruitment process for everyone.

If you require any adjustments at any stage, please let us know and we’ll do our best to accommodate.

Millbank operates as both an Employment Agency and an Employment Business.

• Proud member of the Disability Confident employer scheme
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