The Cost Controller is responsible for monitoring, analyzing, and controlling project costs to ensure financial efficiency and compliance with budgets for Power Plants and Oil & Gas (O&G) Rehabilitation & Maintenance projects.
This role involves tracking expenditures, forecasting costs, identifying variances, and implementing corrective actions to optimize project financial performance.
Private Health Insurance Pension Plan Paid Time Off Training & Development Performance Bonus 1.
Cost Monitoring & Control: • Develop, implement, and maintain cost control procedures for rehabilitation and maintenance projects.
• Track and analyze project expenditures against approved budgets.
• Identify cost variances, investigate root causes, and recommend corrective actions.
• Ensure all project costs (labor, materials, subcontractors, equipment) are accurately recorded and reported.
2. Budgeting & Forecasting: • Assist in preparing project budgets and cost estimates for rehabilitation and maintenance works.
• Update cost forecasts based on project progress, change orders, and market trends.
• Provide monthly cost reports, including Earned Value Analysis (EVA), to management.
3. Financial Reporting & Analysis: • Prepare detailed cost reports, cash flow projections, and variance analysis.
• Liaise with project managers, engineers, and procurement teams to validate costs.
• Ensure compliance with company policies, accounting standards, and contractual obligations.
4. Contract & Change Order Management: • Review and validate contractor/subcontractor invoices and change orders.
• Monitor contract terms to avoid cost overruns and disputes.
• Support claims management and dispute resolution related to project costs.
5. Risk Management & Cost Optimization: • Identify financial risks and propose mitigation strategies.
• Recommend cost-saving measures without compromising quality or safety.
• Conduct cost benchmarking against industry standards.
6. Collaboration & Communication: • Work closely with project teams, finance, and procurement departments.
• Present cost performance updates to senior management and stakeholders.
• Ensure alignment between cost control and project scheduling.
Qualifications & Skills: • Bachelor’s degree in Engineering, Finance, Accounting, or Quantity Surveying.
• 5+ years of cost control experience in Power Plants, Oil & Gas, or Heavy Industrial Maintenance/Rehabilitation projects.
• Proficiency in cost control software (SAP, Oracle, Primavera, MS Project, Excel).
• Knowledge of Earned Value Management (EVM) and project accounting.
• Strong analytical and problem-solving skills.
• Attention to detail and accuracy in financial reporting.
• Excellent communication and presentation skills.
• Ability to work under pressure and meet deadlines.
• Familiarity with FIDIC contracts and industry best practices is a plus.
Work Environment: • Office-based with occasional site visits to Power Plants/O&G facilities.
• May require travel to project locations.