Project Cost Controller Professional

1 week ago

Thoothukudi, Tamil Nadu, India beBeeCostManager Full time ₹ 15,000 - ₹ 16,000
Project Cost Manager

A professional with CWA/CMA certification and 8 years of experience in the EPC industry is required to oversee project costs effectively.

Key Responsibilities:
  • Manage project cost analysis and control to ensure alignment with budgets.
  • Monitor, analyze, and report on project costs for large-scale EPC projects.
  • Track costs across engineering, procurement, and construction phases.
  • Prepare detailed variance reports and identify causes of deviations between budgeted and actual costs.
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.
Contract and Cost Compliance:
  • Ensure compliance with contractual agreements and project-specific financial regulations.
  • Validate costs in line with contract terms and identify cost overruns or savings opportunities.
Inventory and Procurement Cost Management:
  • Control and analyze material and service costs with procurement.
  • Properly value inventory used for EPC projects and implement strategies to minimize waste and cost.
Risk Management and Cost Optimization:
  • Identify potential risks related to project costs, including scope changes, delays, or unexpected expenses.
  • Recommend strategies for cost reduction through value engineering, efficiency improvements, manpower management, material management, and reducing idleness.
Financial Reporting and Forecasting:
  • Prepare regular financial and cost reports analyzing project expenses and forecasting costs for budgeting purposes.
  • Generate monthly, quarterly, and annual reports detailing variances, expected cost overruns, and key financial metrics.

Required Skills:

  • Familiarity with IFRS 15, IFRS 9, IFRS 16, and IAS 16.
  • Understanding of EPC project lifecycle, cost drivers, and risks.
  • Technical proficiency in project management and accounting software (SAP, Oracle).
  • Strong skills in cost analysis, budgeting, and variance analysis.
  • Ability to present cost information effectively to management.

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