Job Summary
We are seeking an experienced Cost Control Section Head to lead cost control activities across projects, ensuring effective monitoring of project budgets, commitments, actual costs, forecasts, and cost performance. The role will provide accurate financial and cost insights to support project management and business decision-making while ensuring adherence to approved budgets and cost control procedures.
Key Responsibilities
- Lead and supervise the Cost Control team and ensure effective distribution of work and responsibilities.
- Establish and maintain project cost control systems, procedures, and reporting standards.
- Monitor project budgets, commitments, actual costs, accruals, and remaining costs against approved budgets.
- Prepare and review Cost Reports, Cost Value Reconciliation (CVR), Budget vs. Actual, and Forecast reports.
- Monitor project cost performance and identify cost variances, trends, and potential overruns.
- Prepare and maintain Estimate at Completion (EAC) and Estimate to Complete (ETC) forecasts.
- Review project budgets, cost breakdown structures, and cost codes to ensure proper allocation and reporting.
- Monitor commitments including subcontracts, purchase orders, variations, and procurement commitments.
- Coordinate with Project Management, Procurement, Contracts, Finance, Planning, and Quantity Surveying teams to ensure accurate cost information.
- Review and assess the financial impact of change orders, variations, claims, and scope changes.
- Support project teams in identifying cost-saving opportunities and potential financial risks.
- Analyze project performance against approved budgets and provide recommendations for corrective actions.
- Ensure timely and accurate monthly cost reporting to senior management.
- Develop cost control dashboards and management reports highlighting key project cost indicators.
- Review and validate cost data received from project teams and ensure data accuracy and completeness.
- Participate in project budget preparation, cost planning, and project forecasting.
- Ensure compliance with company cost control policies, procedures, and reporting requirements.
- Identify cost-related risks and support the development of mitigation plans.
- Mentor and develop Cost Control Engineers/Specialists and monitor team performance.
Key Performance Indicators
- Accuracy and timeliness of project cost reports.
- Budget and forecast accuracy.
- Effective identification and control of cost variances.
- Reduction and prevention of project cost overruns.
- Accuracy of EAC/ETC forecasts.
- Timely monitoring of commitments and variations.
- Quality and reliability of management cost reports.
