Commercial Project Management

FUNCTIONAL RESPONSIBILITIES:

• Commercial execution of EPC projects from award till closure.

• Lead and represent the project towards its stakeholders with PM externally

and internally, applying the 4 eyes principle.

• Responsible for the projects P&L together with the PM.

• Integrating and being responsible for overall all Commercial Project

Management processes, such as Project Cost Controlling, Billing, Contract

Management

• Responsible to update, implement and maintain the commercial execution

plan, including concept (e.g. payment terms, securities, hedging concept, GST

registration, Import/ export requirements etc.) in line with Contract T&C and

company / statutory guidelines.

• Negotiating and managing of commercial topics with the customer and other

major stakeholders e.g. joint venture or consortium partners, major

subcontractors/suppliers, insurances, banks, authorities, etc

• Responsible for all contractual communications, notifications Conduct all

commercial correspondence with the client and co-ordinate the negotiation

and conclusion of contract amendments. Monitor fulfillment of all commercial

conditions laid down in the contract with the customer and initiate necessary

measures in case of deviations.

• Change/ Claim management as per Contractual provisions and collaborate

with the time for timely submission and follow up with the customer along

with the Project Manager till the realization of the same.

• Timely Contractual notification with regard to FM, Extension of Time etc.

• Responsible for issuance of bank guarantees in line with the Contract terms,

parent company guarantees, letters of credit from Customer/ for Vendors.

• Co-ordinate with Client/ our insurance deptt. for all insurance covers as per

contract terms and support for settlement of claims.

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• Co-ordinate / handle foreign exchange matters pertaining to contracts

including making necessary applications, remittances and interface with

companys bankers.

• Apply, follow-up & obtain statutory clearances for import. Coordinate import

clearances. (e.g. Project Imports)

• Indirect Tax compliances such as GST, E way bill, Job works at fabrication

yard. Customs etc. Co-ordinate with Commercial Site Manager for all

commercial approvals, statutory approvals for enable billing and complying

with contract T&C

• Co-ordinate with finance Tax / consultant in developing / execution strategy

for indirect taxes.

• Assist Project Manager in developing billing schedule and the amendments

from time to time.

• Responsible for Invoicing Philosophy and process in agreement with

Customers.

• Responsible to maintain positive cash flow throughout the project. Cash Flow

Planning, co-ordinating with the respective stake holders to achieve the billing

milestones.

• Ensure that customer is invoiced as per the agreed billing schedule and

follow-up to collect receivables on time

• Inputs to Procurement for SCC, GCC of purchase orders with back to back

T&C of Customer.

• Participation in vendor negotiation meetings as applicable as per protocol.

Review and approval of Vendor PO and Sub- Contracts Purchase Orders/

amendments thereon.

• Maintains the books of account for the respective contract in al aspect.

.

MIS & Tools:

• Provide periodic information to the management regarding expected, costs,

profitability and cash flow of contracts. Raise early warnings in case of major

deviations and work with the team with regard to the mitigation Plans.

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• Participate in Management review meetings.

• Usage of SAP/CO module. Billing Tool during execution process. monitor

development of contracts costs and update the same in SAP/ CO module.

ORGANIZATIONAL RESPONSIBILITIES

CLIENT FOCUS

Conduct customer negotiations and interface with customers during project

execution in a manner that strengthens long term relationship.

Understand customer expectations and respond to customer's requests in a timely

manner while protecting the interests of own organization.

Maintain high standards of service levels (TAT) required for effective and progressive

completion of assignment that meets customer's expectations.

SYSTEMS & PROCESSES

Ensure familiarity with modern software tools and IT systems relevant to the function

and suggest measures for improving efficiency and optimizing productivity.

Ensure that all internal regulations and guidelines relating to commercial function

and commercial risk management are implemented and immediately report

deviations for remedial action.

Implement improvement projects initiated within the department and proactively

suggest necessary changes in line with the changing environment

Review the internal processes and procedures and initiate measures for better

functioning.

INTER DEPARTMENT COLLABORATION

Maintain close coordination with other departments esp. Project Management,

Procurement, Site and Finance. Provide timely information as may be required.

Share knowledge with other departments in the overall interests of the organization.

Foster spirit of team work in day to day functioning that strengthens mutual trust

and camaraderie.

Maintain excellent communication with internal and external customers and provide

professional, effective and courteous centre of expertise for all queries and

requirements pertaining to commercial and contractual matters.

Consolidate and share project learnings, new developments pertaining to contractual

T&C with the team.

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PEOPLE RESPONSIBILITIES:

• Share knowledge and learnings with department team members.

• Motivate team members towards performance and adherence to time schedules.

• Guide and train team members in the functional area of commercial execution,

cost control and MIS.

• Inculcate team culture.

CHALLENGES:

• Be abreast of latest changes and methods in commercial aspects related to the

business. Upgrade self knowledge levels to desired and future levels as required by

the organization

• Be a domain expert in areas of contract and commercial management.

• Apply different principals and risk mitigation methodologies to different kind of

projects. Sharp acumen and forecasting skill required.

• Deal and understand different kinds of clients and think from a win-win stand point

in order to secure a commercially rewarding contract for the organization.

• Assess and reduce risk and draft commercially viable contracts for the

organization.

• Ability to work under severe time pressure and handle multiple tasks.

SUCCESS CRITERIA:

• Thorough knowledge and understanding of commercial aspects of contracts

including contract law, cost accounting, taxation, banking and forex. Successful

application of the knowledge during tender and contract execution phases.

• Successfully manages cash flow and receivables of contracts under execution.

• Provides timely and accurate management information.

• Communicates with clarity and effectiveness with internal and external

stakeholders.

• Manages the performance of team members and maintains high level of

motivation.

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• Demonstrates expertise and competence and generates respect for the

department.

LEARNING OPPORTUNITIES:

• Gain relevant knowledge and develop necessary skills in various critical areas of

contract negotiation, taxation, forex, risk management, project management and

financial management.

• Knowledge of commercial terms pertaining to different projects. Study the project

feasibility.

• Learn commercial aspects of various local and global projects. Develop a sharp

commercial acumen.

• Handle complex assignment and strive to make the project commercially viable for

the organization at the proposal stage.

• Expert negotiating skills and effective communication skill.

SPECIFIC REQUIREMENTS OF THE POSITIONS:

• Basic knowledge of legal provisions (substantive & procedural) under the following

– Contract Act, Sale of Goods Act, Negotiable instruments Act, Arbitration Act,

Customs Act, FERA (FEMA) and procedural matters with respect to EXIM policy and

exchange control regulations.

• Thorough knowledge of INCO terms and institute cargo clauses/ insurance

procedures. Thorough knowledge of banking procedures with respect to FX

transactions, operation of LC, inward/outward remittances. Reasonable

understanding of international financial norms/ ICB procedures.

• Comprehensive knowledge of contracting norms of the EPC industry and clear

understanding of company's contracting guidelines/ philosophy, good knowledge of

accounting principles and company's accounting systems & procedures.

• Reasonably good knowledge of indirect tax rules & procedures.

• Attention to detail & sharp analytical skills.

• High degree of negotiation skills.

• Good communication skills – written & oral

• Ability to develop good rapport with clients/ external agencies.

• Persuasive & perseverant