Senior Project Cost Analyst

7 days ago

Alleppey, Kerala, India beBeeCostController Full time ₹ 15,000 - ₹ 16,000
Job Opportunity

Are you a skilled cost analyst seeking a new challenge? We have an exciting opportunity for a Cost Controller to join our team.

Key Responsibilities:
  • Project Cost Analysis and Control: Monitor, analyze, and report on project costs for large-scale EPC projects, ensuring alignment with industry standards.
  • Track costs across engineering, procurement, and construction phases, identifying areas of improvement.
  • Prepare detailed variance reports, analyzing the causes of deviations between budgeted and actual costs.
  • Validate costs in line with contract terms and identify any cost overruns or savings opportunities.
Additional Key Performance Indicators:
  • Progress Monitoring and Reporting: Collaborate with project teams to track progress and update percentage-of-completion calculations as per IFRS 15.
  • Provide insights and reports on cost performance, profit margins, and project cash flow on a regular basis.
  • Inventory and Procurement Cost Management: Work with procurement to control and analyze material and service costs.
  • Ensure proper valuation of inventory used for EPC projects and implement strategies to minimize waste and cost.
Strategic Cost Optimization:
  • Identify potential risks related to project costs, including scope changes, delays, or unexpected expenses.
  • Recommend strategies for cost reduction, such as value engineering or efficiency improvements, manpower management, material management, reducing inefficiencies.
Financial Performance Metrics:
  • Prepare regular financial and cost reports, analyzing project expenses, and forecasting costs for project budgeting purposes.
  • Generate monthly, quarterly, and annual reports for senior management, detailing variances, expected cost overruns, and other key financial metrics.
Required Expertise:
  • Knowledge of Industry Standards: Familiarity with all IFRS, particularly IFRS 15 (Revenue from Contracts with Customers), IFRS 9, IFRS 16 and IAS 16.
  • Industry-Specific Knowledge: Understanding of EPC project lifecycle, cost drivers, and risks.
  • Technical Proficiency: Familiarity with project management and accounting software.
  • Analytical Skills: Strong skills in cost analysis, budgeting, and variance analysis.
  • Communication Skills: Ability to present cost information and insights effectively to stakeholders.

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