Senior Project Cost Controller

Job title : Senior Project Cost Controller

Job Description

Key Deliverables:

• The Project Cost Controller will be responsible for accurately estimating project costs, determining project budgets, and controlling project budgets, while supporting decision - making by project stakeholders.
• The ideal candidate will have a strong background in cost estimation methodologies, exceptional analytical skills, and the ability to work collaboratively with cross-functional teams.

Duties and Responsibilities

• Develop and implement project cost control systems, procedures, and methodologies. Monitor project budgets, expenditures, and commitments to ensure accurate cost tracking.
• Conduct regular cost variance analysis, identifying trends, discrepancies, and potential cost overruns. Provide timely and accurate cost reports, forecasts, and cost performance analyses to project stakeholders.
• Develop detailed project cost estimates based on project scope, specifications, engineering designs, and other relevant inputs.
• Conduct comprehensive cost analysis by considering labour, materials, equipment, subcontracting, indirect costs, and contingency factors.
• Collaborate with project managers, engineers, and other stakeholders to ensure accurate cost estimation throughout the project lifecycle.
• Assist in developing and monitoring project budgets, ensuring alignment with cost estimates and financial constraints. Review and validate contractors and suppliers cost estimates.
• Collaborate with project teams to track and control project costs against established budgets, identifying and addressing cost variances. Analyze cost performance data, identify trends, and provide insights to project stakeholders regarding cost implications and potential risks.
• Evaluate project alternatives and propose value engineering solutions to optimize project costs without compromising quality or safety. Prepare regular cost reports, forecasts, and cost - to - completion analyses for project stakeholders.
• Collaborate with engineering teams to identify cost - saving opportunities, alternative materials, and construction methods. Conduct feasibility studies and cost-benefit analyses to support decision - making on value engineering initiatives.
• Establish and update cost estimating databases, historical data, and benchmarks for future reference and continuous improvement. Provide guidance and support to project teams on cost estimation techniques and methodologies.
• Collaborate with project teams to identify and assess project risks that could impact project costs.
• Assist in the development of risk response strategies and contingency plans to address potential cost uncertainties. Analyze the impact of identified risks on project cost estimates and incorporate appropriate contingencies.
• Collaborate with project managers, engineers, procurement teams, and other stakeholders to ensure accurate and collaborative cost estimation processes. Participate in project meetings, providing cost - related insights, recommendations, and updates.
• Communicate cost estimation assumptions, methodologies, and results to project stakeholders in a clear and concise manner. Foster strong working relationships with stakeholders, addressing their cost - related inquiries and concerns.

Competencies (Skills, Experience, and Knowledge):

• Minimum of a B.Sc Degree in a relevant Engineering discipline.
• MBA / Masters in applicable degree will be added advantage.
• PMP / PRINCE II certification or project management qualifications
• SAP – Project Systems.
• Minimum of 15 years’ experience as a Project Cost Estimator or in a similar role within the oil and gas industry.
• Strong knowledge of cost estimation methodologies, techniques, and best practices.
• Proficiency in cost estimating software and tools (e.g., CostX, WinEst, Timberline, etc).
• Excellent analytical and mathematical skills with keen attention to detail.
• Strong understanding of project management principles and practices.
• Solid knowledge of engineering disciplines, construction methods, and industry - specific cost factors.
• Effective communication.