Cost Analyst

ITAC serves Process & Industrial clients with integrated engineering and construction services for complex capital projects. We also offer specialty services including power systems services and products, custom machine fabrication, and fall protection services and equipment. Founded in 1988, ITAC is a true success story and an ENR-Ranked Top Design Firm with a nationwide footprint and over 500 employees operating from 6 offices in Virginia, North Carolina, and South Carolina. We specialize in power generation & utilities, chemicals, food & beverage, forest products, advanced manufacturing, and minerals & metals.

This is a seconded position, meaning the selected candidate will be employed by ITAC but work full-time on assignment with one of our clients. While day-to-day responsibilities will be managed on-site with the client, ITAC provides ongoing support, resources, and benefits as your employer. This position is full-time contract work anticipated to last 6 months with potential to direct hire with the client. The position will require the employee to work onsite at the client’s West Haven, CT, and/or Piscataway, NJ location.

About the role

We are seeking a Project Cost Analyst to support a Client’s portfolio of capital projects within an active manufacturing environment. This role will be responsible for monitoring, analyzing, and reporting project costs associated with capital and operational projects. The ideal candidate will have experience supporting industrial projects through budgeting, forecasting, cost tracking, and financial reporting while working closely with project managers, engineers, procurement teams, and leadership to ensure projects are delivered within budget.

Responsibilities

• Develop and maintain project budgets, cost forecasts, and cash flow projections for factory transformation and capital improvement projects.
• Track, analyze, and report project expenditures against approved budgets and forecasts.
• Monitor project cost performance and identify variances, trends, and potential budget risks.
• Prepare cost reports, financial summaries, and project performance metrics for project teams and leadership.
• Support project managers in evaluating budget impacts related to scope changes, schedule changes, and unforeseen project conditions.
• Review contractor invoices, purchase orders, and project-related expenses to ensure accuracy and alignment with project budgets.
• Coordinate with procurement, accounting, and project teams to reconcile project costs and commitments.
• Assist in the development of cost estimates and budget planning for upcoming projects and project phases.
• Track committed costs, actual costs, accruals, and forecasted expenditures throughout the project lifecycle.
• Identify opportunities for cost savings and improved financial performance.
• Ensure project cost data is accurate, current, and properly documented in accordance with company standards.
• Support project audits and provide financial documentation as required.

Requirements

• Bachelor's degree in Finance, Accounting, Business Administration, Engineering, Construction Management, or a related field along with 5 years of relevant experience in project cost control, project accounting, or financial analysis within a manufacturing, industrial, engineering, or construction environment, OR at least 10 years of relevant experience without a degree.
• Relevant experience supporting capital projects, manufacturing projects, or industrial facility improvement initiatives.
• Strong understanding of budgeting, forecasting, cost tracking, variance analysis, and financial reporting.
• Experience analyzing project performance and providing recommendations based on financial data.
• Advanced proficiency in Microsoft Excel and proficiency with Microsoft Office Applications (Word, PowerPoint, Outlook, etc.).
• Ability to manage multiple priorities and deadlines in a fast-paced project environment.
• Strong analytical, problem-solving, and organizational skills.
• Excellent verbal and written communication skills.

Preferred Skills

• Strong industrial manufacturing or heavy industrial project background.
• Experience supporting factory transformation, plant expansion, equipment installation, or facility modernization projects.
• Knowledge of project controls principles, earned value management (EVM), and cost forecasting methodologies.
• Experience with ERP systems, project cost management software, and reporting tools.
• Understanding of procurement processes, contract management, and capital project accounting.
• Experience collaborating with engineering, procurement, construction, and operations teams on large-scale industrial projects.

Benefits

• Health, Vision, and Dental Insurance
• 401k & ESOP
• Life Insurance
• Short & Long-Term Disability
• Paid Time Off
• Paid Holidays
• Employee Assistance Program
• Professional Development
• Wellness Program
• Safety Incentive Program
• 24/7 Chaplain Care

Pay

The typical base salary range for this position is between $66,000 and $90,000.

Schedule

• Full-time contract work anticipated to last 6 months with potential for direct hire.
• Onsite at the client’s West Haven, CT, and/or Piscataway, NJ location.