Project Cost Analyst

Project Cost Analyst

The Project Cost Analyst is responsible for coordinating project cost analysis and controls in support of Project Managers and project teams across multiple intermediate-level projects. This role monitors project budgets, forecasts project spending, analyzes variances, and ensures accurate cost reporting throughout the project lifecycle. The Project Cost Analyst maintains project financial data within AEP corporate systems, tracks key performance indicators (KPIs), and partners with internal stakeholders, contractors, and vendors to support successful project execution. This position also contributes to continuous process improvement initiatives, provides training and guidance to team members, and promotes project management best practices while ensuring compliance with AEP governance standards.

Essential Job Functions & Tasks

• Coordinate project meetings and collaborate with Project Managers and project team members to support project planning, execution, and documentation.
• Assist in preparing and updating project forecasts, spending projections, cash flow forecasts, budget variance analyses, and cost tracking reports.
• Support Sarbanes-Oxley (SOX) compliance activities, annual budgeting, capital forecasting, five-year planning, and improvement requisitions, as required by the assigned business unit.
• Perform estimate-versus-actual cost analyses and collaborate with Project Management and stakeholders to develop and maintain time-phased baseline project budgets.
• Create and maintain project breakdown structures and other project financial documentation.
• Support departmental operational activities, including tracking and verifying unvouchered liabilities (UVLs), maintaining project system records, and managing work orders from creation through project closeout.
• Assist with contractor bidding activities, cost analysis, contract administration, and cost tracking, depending on business unit requirements.
• Communicate effectively with project teams, internal business partners, contractors, vendors, and other stakeholders regarding project budgets and financial performance.
• Apply technical knowledge and analytical techniques to resolve project cost and financial issues while recommending appropriate solutions.
• Develop, monitor, and report Key Performance Indicators (KPIs) related to project scope, budget, schedule, forecasting, and overall project performance.
• Build strong working relationships with colleagues, customers, contractors, and vendors while resolving work order and project-related issues in a fast-paced environment.
• Ensure projects comply with AEP Project Management organizational standards and governance requirements.
• Provide training, coaching, and guidance to less experienced employees as appropriate.
• Recommend process improvements that enhance project performance, operational efficiency, customer service, and environmental stewardship.
• Coordinate work activities with internal teams, contractors, and vendors to support successful project delivery.
• Participate in team decision-making, collaboration, and consensus-building efforts.

Education requirements are listed below:

• Qualified Associate's degree in a related field from an accredited college or university with three (3) years of qualified experience; or
• Qualified Bachelor's degree in a related field from an accredited college or university with one (1) year of qualified experience.

• Related fields may include:
• Accounting
• Business
• Construction Management
• Engineering
• Technology
• Project Management

Work Experience requirement listed below:

• Qualified experience includes utility specific operations knowledge/experience with a good working knowledge of work processes and procedures. Experience should be in design, operations, planning, project management, cost tracking analysis, forecasting, project budgets, working with accounting principles, and/or construction or maintenance of systems and/or equipment.

Other preferences:

• Strong organizational, planning, and time management skills with exceptional attention to detail.
• Ability to manage multiple priorities while maintaining accuracy and meeting deadlines.
• Strong analytical and problem-solving skills.
• Effective written and verbal communication skills.
• Proficiency with Microsoft Office Suite, including Word, Excel, Outlook, and PowerPoint.
• Ability to work collaboratively in a team-oriented environment while building positive relationships with internal and external stakeholders.
• Experience with project cost management systems, corporate accounting systems, earned value management, scheduling software, or construction environments is preferred but not required.
• Ability to interpret project financial data and provide meaningful recommendations to support project success.
• Demonstrated commitment to customer service and continuous improvement.
• Willingness to travel, including occasional overnight travel, as business needs require.
• Ability to safely perform light physical duties at company facilities and project sites in varying conditions.
• Availability to work overtime, call-out overtime, or shift work when required by business needs.
• Professional certifications such as CCMP, CETa, IQCP, PMP, or RMP are not required for this role but are valued for future career progression.
• Support and demonstrate AEP's policies, values, safety culture, and commitment to environmental and community stewardship.
• For nuclear assignments, work may be performed at nuclear facilities and could involve work in hazardous environments and potential radiation exposure within NRC-established limits.

What you'll get:

Base Salary from $74,551 - $93,189/year. In addition to a competitive compensation, AEP offers a unique comprehensive benefits package that aims to support and enhance the overall well-being of our employees.

At AEP, we're more than just an energy company — we're a team of dedicated professionals committed to delivering safe, reliable, and innovative energy solutions. Guided by our mission to put the customer first, we strive to exceed expectations by listening, responding, and continuously improving the way we serve our communities. If you're passionate about making a meaningful impact and being part of a forward-thinking organization, this is the company for you!

Compensation Data

Compensation Grade: SP20-006

Compensation Range: $74,551.00 - $93,188.50

The Physical Demand Level for this job is: S – Sedentary Work: Exerting up to 10 pounds of force occasionally (Occasionally: activity or condition exists up to 1/3 of the time) and/or a negligible amount of force frequently. (Frequently: activity or condition exists from 1/3 to 2/3 of the time) to lift, carry, push, pull or otherwise move objects, including the human body. Sedentary work involves sitting most of the time but may involve walking or standing for brief periods of time. Jobs are sedentary if walking and standing are required only occasionally, and all other sedentary criteria are met.