Senior Cost Manager

3 days ago

Ghaziabad, Uttar Pradesh, India beBeeProject Full time ₹ 15,000 - ₹ 16,000
Job Title: Project Cost Controller

Project Cost Controllers are responsible for overseeing the financial aspects of large-scale engineering, procurement, and construction (EPC) projects. They ensure that costs are properly managed, analyzed, and reported to stakeholders.

Main Responsibilities:
  • Cost Analysis and Control: Analyze project costs, identify areas for improvement, and develop strategies to optimize expenses.
  • Progress Monitoring and Reporting: Collaborate with project teams to track progress, update percentage-of-completion calculations, and provide regular cost performance reports.
  • Contract and Cost Compliance: Ensure contractual agreements and project-specific financial regulations are adhered to, and validate costs according to contract terms.
Inventory and Procurement Cost Management
  • Material and Service Costs: Work with procurement to control and analyze material and service costs, ensuring alignment with project budgets.
  • Inventory Management: Properly value inventory used for EPC projects and implement strategies to minimize waste and cost.
Risk Management and Cost Optimization
  • Cost Reduction Strategies: Identify potential risks related to project costs and recommend cost reduction strategies, such as value engineering, efficiency improvements, and manpower management.
Fixed Assets Management at Project Site
  • Asset Tracking and Maintenance: Track, record, and monitor fixed assets at the project site to ensure proper utilization and maintenance.
  • Capitalization and Depreciation: Oversee asset capitalization, depreciation calculations, and ensure compliance with relevant accounting standards.
Financial Reporting and Forecasting
  • Financial Reporting: Prepare regular financial and cost reports, analyzing project expenses and forecasting costs for project budgeting purposes.
  • Cost Variance Analysis: Generate monthly, quarterly, and annual reports detailing variances, expected cost overruns, and other 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.
  • Strong skills in cost analysis, budgeting, and variance analysis.
  • Ability to present cost information and insights effectively to management.

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