Cost Control Lead

Cost Control Lead

Key Responsibilities

• Establish and maintain project cost control procedures, guidelines, and reporting standards to ensure consistency across projects. Implement a standard cost reporting process to enhance visibility and control over project expenditures.
• Lead cost data management across all contracts, ensuring accurate compilation, validation, and reporting of cost information to Project Management for informed decision-making and financial transparency.
• Provide guidance to the project team in standardized cost control processes, including Value Of Work Done (VOWD) reporting, forecast updates, change order management, contingency planning, and expenditures allocation. Review and validate contractor invoices to ensure compliance with payment milestones and project progress.
• Support project controls by providing financial input for Funding Packages submittals, including Estimate Basis, Estimate Confidence Packages, Advance Commitments, and Full Funding. Ensure proper allocation of funds and budget transfers to align with project requirements.
• Lead the preparation of forecast cost estimates and annual Work Program and Budget (WP&B), incorporating project scope, progress achieved, and pending costs to ensure financial alignment with approved budgets.
• Develop and maintain Work Breakdown Structure (WBS) and Cost Breakdown Structure (CBS), ensuring alignment with project scope and reporting requirements.
• Monitor cost performance of FEED and EPC contractors, ensuring adherence to control plans. Recommend corrective actions and assess deliverables, including VOWD reporting, trend analysis, and earned value assessments.
• Provide early identification of potential cost risks, recommend corrective measures, and collaborate with project leadership to implement cost recovery plans and ensure cost control objectives are met.
• Provide support for FEED and EPC tenders technical evaluations by developing evaluation plans, coordinating bid reviews, and ensuring approvals from relevant project committees. Oversee project commitments, ensuring contractual compliance for change orders and approvals. Provide cost control guidance to procurement and contract teams for effective WBS and CBS allocations.
• Follow up on project commitments in line with approved budgets and ensure all change orders are duly submitted and subject to proper management approval. Provide guidance to Procurement and Contracts teams for commitments' WBS and CBS allocations.

Requirements

• Bachelor's degree in Finance, Engineering, Accounting, or a business discipline.
• 8 years' experience in cost control/cost management with a focus on large-scale oil and gas capital projects.
• Proven experience in cost estimating, cost forecasting, allocation, planning, budgeting, and cost reporting for major projects.
• Extensive knowledge of Project Controls principles, theories, and concepts.
• Experience with major projects, EPC Lump Sum Contracts, and working with multi-lingual contract teams with large local subcontractors.
• Experience working with ERP systems and Project Management systems.
• Strong analytical and commercial skills.
• Proficient in Microsoft Office packages and technical packages.
• Proficient in project cost management software and tools, with the ability to analyze and present cost data clearly.