Cost Control Specialist

2 weeks ago

Gulbarga, Karnataka, India beBeeCost Full time ₹ 1,00,00,000 - ₹ 1,50,00,000

Job Title:

Role Summary:

The Cost Control Specialist is a key position in our organization, responsible for managing project budgets and ensuring financial performance.

Key Responsibilities:

  • Develop and control project budgets in collaboration with project managers.
  • Track actual project costs versus budgets, particularly staff time allocation and related expenses.
  • Identify variances, trends, and potential overruns; propose corrective actions proactively.

Project Budget Management:

  • Collaborate with project managers to develop and monitor project budgets.
  • Track actual project costs versus budgets, including staff time allocation and related expenses.
  • Identify variances and trends, and propose corrective actions to ensure project financial performance.

Resource Utilization:

  • Maintain real-time visibility of staff deployment across projects.
  • Collaborate with HR and project leads to track man-hours and ensure efficient resource usage.
  • Support project scheduling with cost-efficiency insights.

Cost Reporting & Forecasting:

  • Prepare weekly/monthly project cost reports with variance analysis and commentary.
  • Provide cost insights to senior leadership for resource planning and profitability analysis.

Process & Compliance:

  • Establish cost control systems, procedures, and reporting formats.
  • Ensure compliance with internal controls and budgetary requirements.
  • Conduct cost audits and internal reviews to validate expense accuracy.

Collaboration & Communication:

  • Act as a liaison between the finance team and project managers.
  • Contribute to project review meetings with detailed cost performance data.

Required Education & Experience:

  • Bachelor's degree in Finance, Accounting, or related field.
  • 8–10 years of experience in cost control, preferably in a project-based environment.
  • Strong understanding of project accounting, time tracking, and resource management systems.

Required Skills & Qualifications:

  • Excellent analytical, communication, and organizational skills.
  • Strong attention to detail and accuracy.
  • Ability to work on multiple projects simultaneously.

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