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Construction Cost Forecast Analyst

Construction Cost Forecast Analyst

Posting Number 
Location : Location 
US-NY-New York
Posted Date 
Compensation Grade 
Band 53
Capital Projects and Facilities (WS2548)
Construction Management

More information about this job

Position Summary

The Cost-Forecast analyst fulfils an important role, modeling and forecasting the cost of capital projects, including; project expenditures, cost trends, potential risk and associated change order impacts, cash-flow forecasting and historical project financial reports. The analyst will be responsible to know the terms of NYU’s standard contracts for capital projects. The analyst will review and model change orders from completed projects to evaluate potential practices, which will reduce change orders on future projects. The analyst will be knowledgeable of contracted unit pricing, labor-rates, contractual fees, cost escalation, overhead rates and insurance rates. Provide cash flow modeling for monthly expenses as wells as cost forecasting for the life-cycle of capital projects. Proactively coordinate expenses to meet cash flow commitments or models for active capital projects. Model trade holds, contingencies and other project allowances associated with capital projects for comparison of like-in-king projects and bid leveling. The analyst shall be responsible to detail and document the costs of like-in-kind projects to formulate cost forecast data for future projects forecasts. The analyst will be required to keep an updated cost estimating template with recommended unitary cost along with a detailed biannual report for all completed capital projects. The analyst will assist with proposal and bid evaluations to compare the actual anticipated cost with the formulated cost forecasts for each capital project. The analyst will be the interface with contractors and vendors for requesting information or clarifications related to cash flow modeling and forecasting. The analyst will work closely with the NYU’s finance and treasury office to adjust cash flow forecasts accordingly. The role of the position requires a resourceful driven self-motivated individual who is skilled at modeling and forecasting the hard and soft costs associated with both small and large capital projects. The analyst will work closely with the project managers, planning department, clients, and project teams to respond effectively and efficiently to all the financial aspects associated with forecasting the cost of capital projects. The analyst is expected to collaborate with the operational groups to forecast potential costs associated with identified risks. In addition, a database of realized risks associated with previously completed projects will be maintained and reviewed by the analyst. The costs associated with the risk must be included in the database. The analyst will work closely with project leaders and department leaders to ensure timely communications regarding financial forecasts and challenges associated with capital projects. The Analyst is expected to contribute to the successful delivery of key capital projects.


Required Education:
Bachelor Degree in engineering, accounting, engineering economics, construction management or related fields.

Preferred Education:
MS or MA in engineering, engineering economics, construction management or related field.

Required Experience:
Ten years of progressive responsibilities in cost engineering related to capital construction projects; proven track record of successful financial control and modeling for large complex capital projects.

Preferred Experience:

Required Skills, Knowledge and Abilities:
Highly-developed communications skills (written/verbal). Demonstrated ability to handle sensitive information and documentation. Results oriented, including financial modeling and analysis for capital projects and programs. Mastery of MS Excel including cost benefit analysis and cost forecasting tools. Highly skilled in engineering economics (PV, FV, ROI). Familiarity with local, state and federal construction laws and construction contracts. Detailed knowledge of construction project life-cycles, trend analysis and research based on industry analysis and modeling. Economic trends specific to the construction market locally, nationally and internationally.

Preferred Skills, Knowledge and Abilities:
Strong negotiating skills and detailed understanding of cost deviation reports as they apply to comparing forecasted cost, anticipated cost (based on proposals and bids) and actual costs. Detailed understanding of best practices which can contribute to reducing the cost of construction projects. Strong knowledge of concurrent value engineering and construction staffing.

Additional Information

EOE/AA/Minorities/Females/Vet/Disabled/Sexual Orientation/Gender Identity

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