Project Cost Controller

Job Description

Job Description

Position Title : Engineering Cost Controller

Overview : As a Cost Controller, you will be responsible for managing and controlling costs related to engineering projects within our organization. You will work closely with project managers, engineers, and other leads to ensure that projects are executed within budgetary constraints while maintaining quality standards.

Responsibilities :

1. Budget Management : Develop and maintain project budgets in collaboration with project managers and finance teams. Monitor expenses, identify variances, and implement corrective actions as necessary to ensure adherence to budgetary constraints.

2. Cost Estimation : Assist in the preparation of cost estimates for engineering projects, including materials, labor, equipment, and other relevant expenses. Review and validate cost estimates to ensure accuracy and completeness.

3. Cost Control : Implement cost control measures to track and manage project expenditures throughout the project lifecycle. Analyze cost trends, identify potential cost-saving opportunities, and recommend appropriate actions to mitigate risks and minimize cost overruns.

4. Financial Reporting : Prepare regular weekly and monthly financial reports and updates on project costs, including budget vs. actual analysis, forecasting, and variance explanations. Present financial information to project teams and senior management as needed.

5. Contract Management : Review contracts, purchase orders, and change orders to ensure compliance with budgetary requirements and cost control measures. Negotiate with vendors and contractors to obtain competitive pricing and favorable terms.

6. Risk Management : Identify and assess financial risks that may impact project costs, such as changes in scope, schedule delays, or unforeseen expenses. Develop risk mitigation strategies and contingency plans to minimize financial exposure.

7. Process Improvement : Continuously evaluate and improve cost control processes and procedures to enhance efficiency, accuracy, and effectiveness. Implement best practices and standardized methodologies to streamline cost management activities.

Qualifications :

• Bachelor's degree or equivalent work experience.
• Proven experience in cost control, budget management, or financial analysis, preferably in an engineering or construction environment.
• Strong analytical skills with the ability to interpret financial data, identify trends, and generate actionable insights.
• Excellent communication and interpersonal skills, with the ability to collaborate effectively with cross-functional teams and communicate complex financial concepts to non-financial stakeholders.
• Proficiency in financial management software and Microsoft Excel. Experience with project management tools (e.g., Primavera, Microsoft Project) is desirable.
• Proficiency in Power Bi is desirable and a plus.
• Proficiency in various ERP software is desirable and a plus.
• Attention to detail, strong organizational skills, and the ability to prioritize tasks in a fast-paced environment.
• Understanding of Earned Value and Project Management practices.

Additional Information :