Project Cost Manager

2 days ago

Belgaum, Karnataka, India beBeeCost Full time ₹ 15,000 - ₹ 16,000
Job Title:

We are seeking a skilled Project Cost Manager to join our team.

About the Role:
  • Cost Management and Analysis:
    • Monitor, analyze, and report on project costs for large-scale engineering, procurement, and construction projects.
    • Track costs across various phases, ensuring alignment with budgets.
  • Progress Monitoring and Reporting:
    • Collaborate with project teams to track progress and update percentage-of-completion calculations as per accounting standards.
    • Provide insights and reports on cost performance, profit margins, and project cash flow on a regular basis.
  • Contract and Cost Compliance:
    • Ensure compliance with contractual agreements and project-specific financial regulations.
    • Validate costs in line with contract terms and identify any cost overruns or savings opportunities.
  • 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, reducing inefficiencies.
  • Financial Reporting and Forecasting:
    • Prepare regular financial and cost reports, analyzing project expenses, and forecasting costs for budgeting purposes.
    • Generate monthly, quarterly, and annual reports detailing variances, expected cost overruns, and other key financial metrics.
Required Skills and Qualifications:
  • Knowledge of Standards:
    • Familiarity with international financial reporting standards (IFRS), particularly IFRS 15 (Revenue from Contracts with Customers).
  • Industry-Specific Knowledge:
    • Understanding of EPC 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 management.

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