Senior Cost Engineer

Job Description

The Senior Cost Controller ensures accurate, timely and value-added analysis and reporting on a project.ÿThe discipline contributes to the effective running of projects and comprises responsibility for, but not limited to cost performance status reporting.The role ensures the provision of all Cost Control functionality on the project including budget set up, updates and monitoring, change management, variation estimating, cost reporting, risk contingency and management as well as all forecasting activities. The role reports directly to the Project Controls Manager.ÿ

• Prepare and establish the Cost Breakdown Structure and Budget Elements which describe the full structure to be used in the Cost Control System and that align into the Work Breakdown Structure.
• Ensure full coherence and utilization of the Cost Control System and that it aligns with the Work Breakdown Structure for budgeting purposes and reporting key performance indicators throughout the project
• Continuously interface with all stakeholders to provide accurate cash flow forecasts and to obtain the actual cost expenditures.
• Establish and communicate processes and routines required for effective control and reporting during the project lifecycle to team members with consideration of financial and other compliance legislation
• Establish a cost coding structure in accordance with the Group Guidelines and taking into consideration the interface with the Project Planning Function, where applicable
• Ensure the use of standard, appropriate templates for internal performance and customer reporting
• Develop a common understanding of the Tender budget through a review and analysis process with the relevant estimator and project team members
• Ensure the transfer of the Tender budget to the cost management system to form the basis of future monitoring and control
• Maintain constant awareness of progress of work by pro-actively collecting the necessary supporting material (planning and reports) and information from all reliable sources
• Compute Actual Cost of Work Performed (ACWP) on regular basis.
• Ensure the timely coding, collection, analysis and reporting of all project expenditure, together with the budget holder(s)
• Ensure the monitoring and reporting of project
• Prepare the customer cost reporting package as dictated by the contract
• Conduct reconciliation of forecasted and actual expenditures and the production of project accruals in conjunction with Finance
• Produce short- and long-term cash flow projections in a continuous and timely manner
• Produce audit reports and other audit information as required by internal & external audit teams
• Devise the monthly project cost report and variance analysis for consolidation into the pre-agreed formats/categories.
• Prepare Close Out Documentation both internally and externally relevant to the Function
• Ensure proactive methods in sharing knowledge and experience, raising areas of difficulty and concern and assisting in improving routines
• Attend regular functional meetings and workshops within the Project Controls team as and when nominated
• Participate on estimate of Variations Orders, prepare supporting data and documentation, and implement validated VO budgets into the cost control system
• Calculate and plan Estimate To Complete (ETC)
• Ensure in-depth analysis and reporting of variances on a periodic basis as well as calculate on a monthly basis the project revenue (earned revenue)
• Ensure all costs are allocated to the right destinations (departments, contracting entities)
• Interface with budget owners on a regular basis to review commitments
• Ensure information is fed back to Estimating department during project execution and at project closing whenever needed
• In liaison with Project Accounting, reconcile Project ACWP and Accounting

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