Cost Management Specialist
2 weeks ago
**Job Overview:**
The Cost Control Engineer role at Bounty Hunter World is a key position in our project management team. This individual will be responsible for establishing and managing a comprehensive cost control system to support informed decision-making processes.
**Key Responsibilities:**
- Establish and maintain a cost control system to assist the Project Manager (PM) in completing projects within approved budget constraints.
- Monitor and analyze budget deviations, ensuring corrective actions are effectively implemented and monitored.
- Foster a culture of cost awareness among project team members through regular training and communication.
- Ensure compliance with relevant operating company and corporate requirements for cost control reporting.
- Coordinate risk management activities, including initial brainstorming sessions and qualitative/quantitative assessments of identified risks and opportunities.
- Conduct Monte Carlo analysis during project execution to assess and report cost status.
- Monitor activity progress and earned value, comparing it against invoices received, and determining monthly accruals to align accounts with work progress.
- Support the project team during contract changes and claims processes by providing comprehensive cost impact analyses and updating cost/revenue forecasts related to intercompany services.
- Analyze committed costs and activities to date, reviewing estimates to complete and isolating deviations from baselines or adverse trends, alerting the PM to enable timely corrective actions.
- Maintain the risk management process by organizing periodic meetings and verifying feedback from risk owners.
- Prepare and issue project and company cost reporting.
**Requirements:**
- Bachelor's degree in Engineering, Finance, or a related field.
- Professional certifications in cost engineering (e.g., AACE, ICEC).
- Proficiency in cost management software and Microsoft Office Suite.
- Minimum of 8 years of experience in cost control or project controls within the oil and gas industry or related fields.
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