Role Overview:
We are seeking a detail-oriented Cost Control Engineer to join our team.
This role is essential for managing project costs, analyzing budgets, and ensuring financial compliance throughout the project lifecycle.
Key Responsibilities:
- Cost Analysis: Analyze all items related to the project contract index, verifying costs and identifying discrepancies. Provide recommendations to the Cost Manager for any significant variances in item prices.
- Baseline Budget Calculation: Calculate the estimated baseline budget for each project based on studies conducted by the Bid Management team, ensuring all financial data is accurate and reflective of project needs.
- Budget Updates: Regularly update project budgets to reflect the current project value, maintaining accurate financial records throughout the project lifecycle.
- Project Support: Provide necessary support to project managers in addressing cost deviations, offering insights and recommendations for financial management.
- Monthly Reporting: Prepare monthly cost reports detailing the project's financial position and submit these reports to the Cost Manager for review, subsequently presenting them to the Project Controls Manager.
- Cost Control Monitoring: Monitor actual costs related to labor, equipment, and subcontractors to ensure compliance with the approved budget.
- Invoice Review: Review project invoices monthly to evaluate and analyze over/under billing, ensuring accurate tracking of project costs.
- Material and Purchasing Control: Manage material purchasing orders against the project budget, ensuring all expenses are accounted for and within financial limits.
- Subcontractor Oversight: Control subcontract rates and quantities against the budget to maintain financial accountability and ensure project profitability.
