Project Cost Management Specialist

2 days ago

Surat, Gujarat, India beBeeCostManagement Full time ₹ 15,00,000 - ₹ 16,00,000

Job Title: Project Cost Management Specialist

A highly skilled and experienced project cost management professional is required to manage project costs, ensure compliance with contractual agreements, and identify opportunities for cost reduction.

The successful candidate will have extensive experience in project cost analysis and control, with a proven track record of monitoring, analyzing, and reporting on project costs. They will also possess excellent analytical and communication skills, with the ability to present complex financial information effectively to stakeholders.

The role involves tracking costs across various phases of engineering, procurement, and construction, ensuring alignment with budgets and preparing detailed variance reports. Additionally, the candidate will be responsible for validating petty cash and non-PO based expenses, assessing suppliers, and utilizing credit facilities and credit periods effectively.

  • Key Responsibilities:
  • Monitor and analyze project costs to ensure accurate budgeting and forecasting.
  • Prepare regular financial and cost reports, detailing variances, expected cost overruns, and other key financial metrics.
  • Collaborate with project teams to track progress and update percentage-of-completion calculations as per IFRS 15.
  • 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.
  • Conduct audits to ensure all costs are allocated accurately to their respective projects and phases.

The ideal candidate will have a strong understanding of IFRS, particularly IFRS 15, and familiarity with project management and accounting software such as SAP and Oracle. They will also possess excellent technical proficiency, analytical skills, and communication skills.

Required Skills and Qualifications:

  • Knowledge of 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 stakeholders.

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