Project Manager

7 days ago

Nellore, Andhra Pradesh, India beBeeCostController Full time ₹ 15,000 - ₹ 16,000
Job Title: Project Cost Controller

We are seeking a seasoned professional to lead our project cost control initiatives. As a key member of our team, you will be responsible for ensuring the accuracy and reliability of our project budgets.

The ideal candidate will possess strong analytical skills, with the ability to analyze and interpret complex financial data. They should also have excellent communication skills, with the ability to present complex information in a clear and concise manner.

  • Key Responsibilities:
  • Perform project cost analysis and control to ensure alignment with approved 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 analyzing deviations between budgeted and actual costs.
  • Validate petty cash and non-PO based expenses of projects, assess suppliers, advance payments, and credit facility utilization.
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.
Contract and Cost Compliance
  • Evaluate contractual agreements and project-specific financial regulations for compliance.
  • Validate costs in line with contract terms and identify cost overruns or savings opportunities.
  • Conduct audits to ensure accurate allocation of costs to respective projects and phases.
Risk Management and 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, and reducing waste.
Fixed Assets Management at Project Site
  • Track, record, and monitor fixed assets at the project site to ensure proper utilization and maintenance.
  • Oversee asset capitalization, depreciation calculations, and ensure compliance with relevant accounting standards.
  • Conduct periodic asset audits and reconcile asset records to ensure accuracy and prevent asset misplacement or misuse.
Financial Reporting and Forecasting
  • Prepare regular financial and cost reports analyzing project expenses and forecasting costs for project budgeting purposes.
  • Generate monthly, quarterly, and annual reports detailing variances, expected cost overruns, and other key financial metrics.
  • Collaborate with the finance department to support overall financial reporting.

Required Skills:

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

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