Budgeting and Costing Manager
3 hours ago
Key Responsibilities:*
*1. Budget Preparation & Planning*
* Prepare detailed project budgets based on drawings, BOQs, and technical specifications.
* Collaborate with project managers, engineers, and procurement teams to estimate cost requirements.
* Develop annual and quarterly budgets for ongoing and new projects.
* Prepare cash flow projections and budget forecasts for management review.
*2. Cost Estimation & Analysis*
* Review and verify cost estimates from the estimation department and vendors.
* Evaluate actual project costs against budgeted figures to identify variances.
* Analyze material, labor, subcontracting, and overhead costs for cost optimization.
* Maintain cost databases and update rate analysis periodically.
. Cost Control & Monitoring*
* Monitor project expenditure throughout the project lifecycle.
* Track committed vs. actual costs and report deviations.
* Recommend corrective measures for cost overruns and financial inefficiencies.
* Implement cost-control procedures and ensure adherence to approved budgets.
- Reporting & Documentation*
* Prepare monthly and quarterly cost reports and dashboards for management.
* Provide detailed MIS reports on budget utilization, variance, and profitability.
* Ensure timely submission of cost summaries for management and audit purposes.
*5. Coordination & Stakeholder Management*
* Liaise with project, procurement, finance, and contracts teams to align cost data.
* Support tendering and bidding teams with accurate cost information.
* Work closely with auditors and management during cost audits and financial reviews.
*6. System & Process Improvement*
* Develop and improve cost control systems, tools, and templates.
* Assist in the implementation of ERP or project costing software.
* Identify process gaps and implement efficiency improvements.
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