Senior Cost Manager

5 days ago

Bengaluru, Karnataka, India Lambsrock Full time

POSITION: Senior Cost Manager

DEPARTMENT: Cost Management

REPORTING TO: Associate Director Cost Management

DIRECT REPORTS: Associate Director Cost Management

LOCATION: Bengaluru

Our goal at LAMBSROCK is to provide unparalleled service to every client, setting the benchmark within our industry, As a Senior Cost Manager, you'll be at the forefront of our mission, leading and guiding our cost management teams to deliver exceptional results. This pivotal role combines strategic leadership, hands-on project oversight, and client relationship management to ensure the successful execution of projects from inception to completion. If you're passionate about driving impactful change, fostering client satisfaction, and leading high-performing teams, this role offers an exciting opportunity to make a significant impact in the world of cost management consultancy. Your leadership will be pivotal in establishing LAMBSROCK as an industry frontrunner, committed to delivering unparalleled service and value to our clients, while fostering a culture of continuous growth and innovation throughout the organization.

Position Purpose

The Senior Cost Manager is responsible for leading the cost management function, ensuring that all project costs are effectively estimated, controlled, and reported. This role involves overseeing the development of project budgets, monitoring expenditures, and providing comprehensive financial analysis to ensure projects are completed within budget. The Senior Cost Manager works closely with project teams, suppliers, and stakeholders to ensure financial efficiency and effective cost control, while also mentoring and guiding junior team members.

Qualifications and Experience:

- Education:

  • Bachelor's degree in finance, Accounting, Engineering, Construction Management, or a related field. A master's degree or professional certification (e.g., MRICS, CCP) is highly desirable.

- Experience:

  • 12+ years of experience in cost management, finance, or a related field, with a proven track record of managing and leading project cost functions.

- Skills:

  • Exceptional analytical, numerical, and problem-solving skills.
  • Advanced proficiency in Microsoft Office Suite, particularly Excel.
  • Extensive experience with cost management software (e.g., CostX, Sage, Procore).
  • Excellent communication, negotiation, and interpersonal skills.
  • Strong leadership and team management abilities.
  • Detail-oriented with outstanding organizational and time-management skills.

- Other Requirements:

  • Deep understanding of construction or project management processes.
  • Ability to handle multiple complex projects and meet tight deadlines.
  • Commitment to continuous learning and staying updated with industry trends and best practices.

Duties & Responsibilities:

- Leadership and Team Management:

Lead and manage the cost management team, providing direction, mentorship, and development opportunities.

Assign tasks and responsibilities to team members, ensuring effective workload distribution.

Conduct performance reviews and provide constructive feedback to team members.

- Cost Estimation:

Oversee the preparation of detailed cost estimates for all project stages.

Analyze project specifications and requirements to develop accurate and comprehensive cost estimates.

Conduct in-depth market research to obtain current cost data for materials, labor, and equipment.

- Budgeting and Cost Control:

Develop, implement, and maintain project budgets, forecasts, and financial plans.

Monitor project costs against the budget, identifying and addressing any variances.

Implement robust cost control measures to ensure project costs remain within budget.

Review and analyze cost reports, providing detailed insights and recommendations on cost performance.

- Financial Reporting:

Prepare and present detailed financial reports, including cost reports, cash flow projections, and budget updates.

Ensure the accurate and timely recording of all project's financial transactions.

Provide data and insights for regular financial reviews, audits, and stakeholder presentations.

- Procurement Management:

Oversee the preparation and management of procurement documents, including requests for proposals (RFPs) and contracts.

Evaluate bids and proposals to ensure cost-effectiveness and value for money.

Maintain strong relationships with suppliers and contractors to secure competitive pricing.

- Project Support:

Collaborate with project teams to understand project objectives, schedules, and financial requirements.

Attend project meetings, providing cost-related insights, recommendations, and financial support.

Resolve complex cost-related issues and disputes, ensuring timely and effective solutions.

Prepare and present cost-related documentation and presentations for project stakeholders.

- Data Management:

Maintain and update cost databases and records, ensuring data accuracy and integrity.

Develop and implement advanced cost management tools and software to enhance efficiency.

Ensure compliance with company policies, procedures, and industry standards.

- Strategic Planning and Development:

Contribute to the development of cost management strategies and best practices.

Identify opportunities for cost savings and process improvements.

Stay updated with industry trends and advancements, integrating them into the cost management process.

What We Offer:

- Competitive salary and benefits package

- Opportunities for professional growth and career advancement

- A collaborative and dynamic work environment

- Involvement in high-profile and diverse projects

- Ongoing training and development programs

LAMBSROCK is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.

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