Project Cost Control Engineer
4 weeks ago
Primary responsibility is to manage and control the costs associated with projects, ensuring that they stay within the budget and are completed efficiently. The duties and responsibilities of a Cost Control Engineer are mentioned below.
Cost Estimation: Prepare accurate cost estimates for projects before they begin. This involves analyzing project plans, specifications, and other relevant documents to determine the resources, materials, labor, and equipment required.
Budget Development: Develop and establish project budgets based on cost estimates. This includes allocating funds to different project elements, such as labor, materials, equipment, and contingency reserves.
Cost Monitoring: Continuously monitor project costs throughout its lifecycle. Track expenses, commitments, and variations against the budget. Identify and report on any deviations from the budget.
Change Order Management: Evaluate and process change orders that may impact the project's cost. Determine the cost implications of changes in scope, specifications, or unforeseen circumstances.
Forecasting: Use historical data and project progress to forecast future costs accurately. This helps project stakeholders anticipate potential budget overruns and take corrective actions.
Cost Reporting: Prepare regular reports for project stakeholders, including management, and subcontractors. These reports typically include cost status updates, cost-to-complete projections, CPI analysis and variance analysis.
Risk Assessment: Identify and assess potential risks that could impact project costs. Develop strategies to mitigate these risks and ensure that the project remains on budget.
Resource Allocation: Optimize resource allocation by analyzing labor, equipment, and material requirements. Ensure that resources are used efficiently to control costs.
Cost Control Strategies: Implement cost control strategies to reduce wastage, improve productivity, and minimize unnecessary expenditures. This may involve negotiating with suppliers, contractors, and subcontractors to secure favorable terms
Benchmarking: Compare project costs to industry benchmarks and historical data to ensure competitiveness and efficiency.
Compliance: Ensure that all cost control activities comply with relevant laws, regulations, and industry standards.
Documentation: Maintain accurate records of all budget transactions, cost reports, change orders, and project-related documents.
Communication: Collaborate with various project stakeholders, including project managers, engineers, procurement teams, and financial departments, to ensure effective cost control and alignment with project goals.
Continuous Improvement: Stay up to date with industry trends, best practices, and emerging technologies to continuously improve cost control processes and methodologies.
Problem Solving: Address cost-related issues promptly and propose solutions to keep the project on track financially.
Experience: 5 - 8 years relevant experience in Oil & Gas.
Tools expertise - MS office (Word, Excel, PowerPoint). - Good Working knowledge on MS-Excel, AutoCAD, PDF - Knowledge of Power Bi is a valuable addition.
**Job Types**: Full-time, Permanent
Pay: QAR7,500.00 - QAR9,000.00 per month
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