Project Cost Expert

1 day ago

Nagpur, Maharashtra, India beBeeCostManager Full time ₹ 15,000 - ₹ 16,000
Job Title

We are seeking a seasoned Cost Manager to oversee project costs, drive cost efficiency, and ensure financial alignment.

Key Responsibilities:
  • Conduct thorough project cost analysis, identifying areas of optimization and implementing corrective measures to maintain budget compliance.
  • Maintain ongoing monitoring and reporting of project costs, providing timely insights into variances and opportunities for improvement.
  • Develop and track detailed variance reports to pinpoint causes of deviations between budgeted and actual costs.
Responsibilities - Progress Monitoring and Reporting:
  • Collaborate closely with project teams to track progress, update percentage-of-completion calculations according to IFRS 15, and provide accurate cost performance data.
  • Deliver regular cost performance, profit margin, and project cash flow reports to stakeholders, ensuring informed decision-making.
Responsibilities - Contract and Cost Compliance:
  • Ensure strict adherence to contractual agreements, project-specific financial regulations, and accounting standards.
  • Validate costs in line with contract terms, identify potential cost overruns or savings opportunities, and implement strategies for cost reduction.
  • Conduct audits to verify accurate cost allocation to respective projects and phases, guaranteeing transparency and accountability.
Responsibilities - Inventory and Procurement Cost Management:
  • Work collaboratively with procurement to control and analyze material and service costs, driving value-added initiatives and cost reductions.
  • Implement robust inventory valuation processes, ensuring accurate tracking and valuation of assets used for EPC projects.
Responsibilities - Risk Management and Cost Optimization:
  • Proactively identify potential risks related to project costs, including scope changes, delays, or unexpected expenses, and develop mitigation strategies.
  • Recommend targeted cost-reduction initiatives, such as value engineering or process improvements, to enhance overall project efficiency.
Responsibilities - Fixed Assets Management at Project Site:
  • Track, record, and monitor fixed assets (e.g., machinery, equipment) at the project site, ensuring accurate capitalization, depreciation calculations, and regulatory compliance.
  • Oversee asset management, guaranteeing seamless integration with accounting standards and best practices.
Responsibilities - Financial Reporting and Forecasting:
  • Prepare comprehensive financial and cost reports analyzing project expenses and forecasting costs for strategic budgeting purposes.
  • Generate monthly, quarterly, and annual reports detailing key financial metrics, variances, and expected cost overruns.

Required Skills:

  • Familiarity with IFRS 15, IFRS 9, IFRS 16, and IAS 16.
  • Thorough understanding of EPC project lifecycle, cost drivers, and associated risks.
  • Proficiency in project management and accounting software (SAP, Oracle).
  • Expert skills in cost analysis, budgeting, and variance analysis.
  • Ability to present complex cost information effectively to senior management.

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