Project Cost Manager

3 days ago

Jodhpur, Rajasthan, India beBeeProjectCostManager Full time ₹ 15,00,000 - ₹ 16,00,000
Job Title: Project Cost Manager

About the Role:

We are seeking a skilled and detail-oriented Project Cost Manager to join our team. The successful candidate will be responsible for analyzing and controlling project costs, ensuring alignment with budgets and identifying areas for cost optimization.

Key Responsibilities:

  • Analyze project costs and identify areas for cost savings
  • Monitor and track costs across phases to ensure alignment with budgets
  • Prepare detailed variance reports and analyze the causes of deviations between budgeted and actual costs
  • Validate petty cash and non-PO based expenses of projects
  • Collaborate with project teams to track progress and update percentage-of-completion calculations
  • Provide insights and reports on cost performance, profit margins, and project cash flow

Contract and Cost Compliance:

  • Ensure compliance with contractual agreements and financial regulations
  • Validate costs in line with contract terms and identify any cost overruns or savings opportunities
  • Conduct audits to ensure all costs are allocated accurately to their respective projects and phases

Inventory and Procurement Cost Management:

  • Work with procurement to control and analyze material and service costs
  • Ensure proper valuation of inventory used for 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, such as value engineering or efficiency improvements

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 for stakeholders, detailing variances, expected cost overruns, and other key financial metrics

Required Skills and Qualifications:

  • Knowledge of Accounting Standards: Familiarity with IFRS, particularly IFRS 15, IFRS 9, IFRS 16, and IAS 16
  • Industry-Specific Knowledge: Understanding of project lifecycle, cost drivers, and risks
  • Technical Proficiency: Familiarity with project management and accounting software
  • Analytical Skills: Strong skills in cost analysis, budgeting, and variance analysis
  • Communication Skills: Ability to present cost information and insights effectively to stakeholders

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