Cost Controller

Anonymous Employer

Job Summary

We are a reputable engineering, procurement, construction, operation, and maintenance (EPCOM) contracting company in the oil and gas sector. The Cost Controller ensures accurate, timely, and value-added analysis and reporting on a project. The discipline contributes to the effective running of projects and comprises responsibility for, but not limited to cost performance status reporting. Furthermore, the role ensures the provision of all Cost Control functionality on the project including budget set up, updates and monitoring, change management, variation estimating, cost reporting, risk contingency, and management as well as all forecasting activities.

  • Minimum Qualification: Degree
  • Experience Level: Senior level
  • Experience Length: 5 years

Job Description/Requirements

Principal Duties/Responsibilities/Authorities:

  • In liaison with the Tender Team, reviews and analyses the as-sold budget and cash plan (in/out) and modify and/or detail this plan.
  • Prepares and establishes the Cost Breakdown Structure, and Budget Elements which describe the full structure to be used in the Cost Control System and that align with the Work Breakdown Structure.
  • Ensures full coherence and utilization of the Cost Control System and that it aligns with the Work Breakdown Structure for budgeting purposes and reporting key performance indicators throughout the project.
  • Ensures the use of standard, appropriate templates for internal performance and customer reporting.
  • Computes Actual Cost of Work Performed (ACWP).
  • Ensures the timely coding, collection, analysis, and reporting of all project expenditure, together with the budget holder(s).
  • Compiles, monitors, and reports project performance, costs, and progress.
  • Prepares the customer cost reporting package as dictated by the contract.
  • Conducts reconciliation of forecasted and actual expenditures and the production of project accruals in conjunction with Finance.
  • Produces short- and long-term cash flow projections in a continuous and timely manner.
  • Produces audit reports and other audit information as required by internal & external audit teams.
  • Prepares experience feedback figures to the Project Controls and Tendering units.
  • Prepares Close-Out Documentation both internally and externally relevant to the Function.
  • Attends regular functional meetings and workshops within the Project team as and when nominated.
  • Participates in an estimate of Variations Orders, prepares supporting data and documentation, and implements validated VO budgets into the cost control system.
  • Calculates and plans Estimate To Complete (ETC).
  • Ensures in-depth analysis and reporting of variances on a periodic basis as well as calculates monthly the projected revenue (earned revenue).
  • Ensures all costs are allocated to the right destinations (departments, contracting entities).
  • Interfaces with budget owners on a regular basis to review commitments.
  • Ensures information is fed back to Estimating department during project execution and at project closing whenever needed.
  • Performs variance analysis and develops effective strategies and recovery plans to bring the cost in line with budget.
  • Monitors trends and supports the preparation of the cost to complete estimate.
  • Participates in and contributes to risk and opportunities assessments.
  • Supports contract management on claims and change orders.
  • Maintains and develops a cost database for benchmarking.
  • Performs ad-hoc project controls analysis and support.
  • Assists project management to develop and enforce lessons learned within the company.

Competency and Skills Requirements:

  • Experience in Project Controls, especially project costing, estimating and cost control functions.
  • Knowledge of engineering, procurement, and construction management with focus on EPC contract models.
  • Experience in budget allocation and establishing Cost Baselines.
  • Ability to gather and analyze data, draw conclusions and make appropriate recommendations.
  • Quality-focused with strong attention to detail.
  • Effective communicator.
  • Effective interpersonal skills.
  • Self-motivated.
  • Ability to deliver under limited direct supervision.
  • Develop good working practices and continually strive for improvements in cooperation with other project personnel.
  • Strong MS Excel skills for analysis and reporting.
  • Familiarity with industry practices.
  • Depth in analysis and understanding of the Project Contract and Scope.
  • Understanding of Earned Value Management (EVM)

Qualifications & Experience:

  • A bachelor’s degree (preferably in Engineering, Construction Management, or Business Administration).  
  • A Master's degree and professional qualifications ideally in Cost Management, Project Management, or Engineering will be an added advantage.
  • 4-5 years of project controls experience as a Cost Controller in an EPC or related environment. 
  • An understanding of the Offshore Oil and Gas industry is desirable.

Person Specification:

  • Must be exceptionally well organized and demonstrate a high sense of urgency and commitment. 
  • Must possess a service-oriented attitude.
  • Must possess very strong attention to detail and the ability to grasp information quickly.
  • Must be able to cope with working long hours and be ready to travel (when necessary) for business meetings within short notice.
  • Must be able to manage sensitive information.

Key Performance Indicators:

  • Financial: Zero budget overruns
  • Process:100% Conformance with set methodology; delivery on all agreed responsibilities
  • Market/Customer: Effectiveness of stakeholder management, regulators, contractors, etc
  • Learning and Growth: Improvement in his knowledge of the industry and ability to produce and present reports.

The role reports directly to Chief Financial Officer, functionally, and to the Project Manager or Project Director, directly, depending on the scale of the project.



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