Job Title: Principal Cost Specialist
Location: Plymouth, Devon + Hybrid Working Arrangements
Compensation: £62, - £70, + Benefits
Role Type: Full time / Permanent
Role ID: SF
Shape the Future of Defence Engineering
At Babcock, we’re working to create a safe and secure world, together. If you join us, you can play your part as a Principal Cost Specialist at Devonport, near Plymouth, Devon.
The role
As a Principal Cost Specialist, you’ll be at the heart of our submarine programmes, applying your expertise to influence commercial outcomes and drive cost efficiency across complex projects. This is a high-impact role where your leadership and technical insight will help shape the future of defence engineering, while supporting your own career development and growth.
Day-to-day, you’ll lead cost management across complex projects by driving financial insight, guiding teams and ensuring robust, consistent practices that support strategic decision-making and operational excellence.
1. Managing and maintaining tools, processes and standards to ensure consistent cost control across projects and programmes
2. Overseeing cost forecasting, variance analysis and reporting to provide timely insights and proactive management
3. Providing expert cost analysis to inform business cases, change control and funding decisions
4. Collaborating with planning and commercial teams to maintain traceable, auditable cost data aligned with schedule and scope
5. Leading and mentoring cost professionals, driving improvements in cost maturity and contributing to benchmarking and lessons learned
This role is full time, 35 hours per week and provides hybrid working arrangements with days in the office/onsite and days working from home.
Essential experience of the Principal Cost Specialist
6. Demonstrable experience in cost engineering, cost control or project controls within complex project environments
7. Proven ability to manage cost performance across large-scale projects or programmes
8. Strong understanding of cost forecasting, earned value management and financial governance
9. Experience leading or mentoring cost professionals and working within matrixed organisations
10. Excellent analytical, communication and stakeholder engagement skills
Qualifications for the Principal Cost Specialist
11. Professional qualification in cost or project controls (e.g. ACostE, AACE, or equivalent)
12. PMQ or CHPP Chartered Project Professional
Security Clearance
The successful candidate must be able to achieve and maintain Security Check (SC) clearance for this role.
Many of the positions within our company are subject to national security clearance and Trade Control restrictions. This means that your eligibility for certain roles may be affected by your place of birth, nationality, current or former citizenship, and any residency you hold or have held. Further details are available at