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Cost Engineer - Mechanical

1.00 to 10.00 Years   Al Kuwait, Kuwait   02 Aug, 2024
Combined Group Contracting Company (K.S.C.C)
1 Jobs Openings
Job LocationAl Kuwait, Kuwait
EducationBachelor's degree / higher diploma
SalaryNot Mentioned
IndustryConstruction & Building; Civil Engineering; Oil & Gas
Functional AreaNot Mentioned

Job Description

PurposeTo deliver a complete suite of cost-control services. This includes monitoring and forecasting the project budget and preparing periodic cost status reports.Job Responsibilities

  • To monitor budget variances and provide support to all project members regarding the control, formulation and interpretation of budgets, trends and estimates at completion.
  • To create/update the Project Structure Resources/WBS in SAP.
  • To provide and ensure accuracy of Work Breakdown Structure (WBS) provided for various activities and resources to ensure costs are booked precisely.
  • To coordinate with project management to develop appropriate control budgets consistent with project estimate and WBS in the project preparation phase.
  • To prepare project cost control reports and documentation.
  • To review any changes in project scope of work and continually evaluate cost estimates impact upon project.
  • To monitor all spending within the project to provide a proper update of budget forecast.
  • To reconcile forecasted and actual expenditures and accruals in conjunction with the project budget.
  • To provide variance analysis and recommend corrective actions for deviations from cost plan or budget. (when needed)
  • To review any budget amendment requests received from the projects to ensure validation and compliance with department policy and procedure.
  • To review and audit reports related to project progress and cost data from projects.
  • To perform field visits to review and discuss points of concern related to cost control activities.
  • To identify and document areas of opportunity that can result in cost/time savings.
  • To administer subcontractor valuations and payments in coordination with other project staff.
  • To participate in developing and delivering material training related to cost control activities.
  • To perform any other work-related tasks as assigned by the Direct Manager.

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