Project Cost Control Analyst
3 days ago
**Job Description:**
The Cost Control Engineer at Bounty Hunter World will be responsible for developing and implementing a comprehensive cost control system that supports project management decision-making processes. This individual will work closely with the project team to ensure that projects are completed within budget and that cost control measures are in place to prevent cost overruns.
**Key Responsibilities:**
- Develop and implement 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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