Senior Project Cost Manager

6 days ago

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

This role is for an experienced Cost Controller to oversee and manage the financial aspects of a project, ensuring its cost-effectiveness and efficiency.

Key Responsibilities:
  • Manage Project Costs
  • Oversee Engineering, Procurement, and Construction (EPC) phases
  • Analyze variances and provide detailed reports on causes of deviations between budgeted and actual costs
  • Validate petty cash and non-PO based expenses, supplier assessments, advance payments, and credit facilities
    • Progress Monitoring and Reporting
    • Collaborate with project teams to track progress and update percentage-of-completion calculations
    • Provide insights 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 savings opportunities
      • Conduct audits to ensure accurate cost allocation
      • Inventory and Procurement Cost Management
      • Work with procurement to control material and service costs
      • Implement strategies to minimize waste and optimize inventory valuation
        • Risk Management and Cost Optimization
        • Identify potential risks related to project costs, including scope changes and unexpected expenses
        • Recommend strategies for cost reduction, such as value engineering and efficiency improvements
          • Fixed Assets Management at Project Site
          • Track and monitor fixed assets to ensure proper utilization and maintenance
          • Oversee asset capitalization, depreciation, and compliance with accounting standards
          • Conduct periodic asset audits and reconcile asset records
            • Financial Reporting and Forecasting
            • Prepare regular financial and cost reports, analyzing project expenses and forecasting costs
            • Generate monthly, quarterly, and annual reports detailing variances and expected cost overruns
            • Collaborate with the finance department to support overall financial reporting

Required Skills:

  • Knowledge of Financial Standards: Familiarity with IFRS 15, IFRS 9, IFRS 16, and IAS 16
  • Industry-Specific Knowledge: Understanding of EPC project lifecycle, cost drivers, and risks
  • Technical Proficiency: Familiarity with project management and accounting software (SAP, Oracle)
  • 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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