EPC Project Cost Specialist

7 days ago

Bellary, Karnataka, India beBeeCostController Full time ₹ 15,000 - ₹ 16,000

Project Cost Manager Role

We are seeking an experienced Cost Controller to join our team. The ideal candidate will have a proven track record of 8 years in the EPC Industry and hold certifications like CWA/CMA.

The successful candidate will be responsible for:

  • Cost Management: Monitor, analyze, and report on project costs for large-scale EPC projects.
  • Expense Tracking: Track expenses across engineering, procurement, and construction phases, ensuring alignment with financial plans.
  • Variance Analysis: Prepare detailed variance reports, analyzing the causes of deviations between budgeted and actual costs.
  • Petty Cash and Non-PO Based Expenses: Validate petty cash and non-PO based expenses of projects, supplier assessment, advance to suppliers, utilization of credit facility, and credit period.

Key Responsibilities:

  • Progress Monitoring and Reporting: Collaborate with project teams to track progress and update percentage-of-completion calculations as per IFRS 15.
  • Cash Flow Management: Provide insights and reports on cost performance, profit margins, and project cash flow on a regular basis.

Contract Compliance and Financial Regulations: Ensure compliance with contractual agreements and project-specific financial regulations.

Risk Management and Cost Optimization: Identify potential risks related to project costs, including scope changes, delays, or unexpected expenses.

Asset Management: Track, record, and monitor fixed assets (e.g., machinery, equipment) at the project site to ensure proper utilization and maintenance.

Financial Reporting and Forecasting: Prepare regular financial and cost reports, analyzing project expenses, and forecasting costs for project budgeting purposes.

The required skills include:

  • Familiarity with IFRS standards, 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 analytical and communication skills.

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