Principal Project Controls Engineer - Cost

Public Service Enterprise Group - Newark, NJ

Full-time - Senior

Remote - Newark, NJ

10,001+ employees

Utilities

About the position

The Principal Project Controls Engineer - Cost is responsible for managing IT-related project budgets, forecasts, and variances from planning through project closure. This role involves providing technical and analytical support in project controls, ensuring adherence to PSEG policies, and optimizing resource use within budget and scope. The successful candidate will work closely with internal stakeholders and oversee contract staff involved in cost control functions.

Responsibilities

• Implement standard cost best practices and processes for IT projects.
• Develop, coordinate, and maintain cost workbooks and forecasts in alignment with project schedules.
• Analyze monthly forecast and plan variances, providing corrective action recommendations to project teams.
• Recommend enhancements to Project Management Information System tools to increase efficiencies.
• Enhance oversight and improve project cost data quality.
• Provide monthly forecasts for projects according to scheduled work.
• Notify management of budget overruns and prepare necessary documentation for corrective actions.
• Develop and maintain status and variance reporting, including executive dashboards for project financials.
• Interact with internal and external stakeholders regarding project costs.
• Prepare monthly accruals for project financials and reconcile paid invoices with accruals.
• Manage contractor resources performing cost control functions for IT projects, providing training and oversight.
• Provide roll-up reporting for project portfolios and recommend corrective actions for deviations.

Requirements

• Bachelor's degree in Business, Engineering, Environmental, or Construction, or a minimum of 10 years of relevant experience in these fields.
• Minimum of 6 years' experience with Business Financials or Project Controls (Cost and Scheduling).
• Experience with ERP systems (SAP preferred) or Project Management software (Primavera P6 preferred).
• Demonstrated proficiency in MS Office (PowerPoint, Word, Excel).
• Valid U.S. driver's license and satisfactory driving record.
• Excellent verbal and written communication skills.

Nice-to-haves

• Project Management Professional Certification (PMP).
• Demonstrated leadership in cost control, data management, or corporate initiatives.
• Experience with Microsoft Access.

Benefits

• Comprehensive health-related benefits including medical, vision, and dental.
• Well-being and behavioral health programs.
• 401(k) retirement program with company match.
• Company paid life insurance.
• Tuition reimbursement.
• Minimum of 18 days of paid time off per year.