Key Deliverables
- The Project Cost Controller will be responsible for accurately estimating project costs, determining project budgets, and controlling project budgets, while supporting decision-making by project stakeholders.
- The ideal candidate will have a strong background in cost estimation methodologies, exceptional analytical skills, and the ability to work collaboratively with cross-functional teams.
Duties and Responsibilities
- Develop and implement project cost control systems, procedures, and methodologies.
- Monitor project budgets, expenditures, and commitments to ensure accurate cost tracking.
- Conduct regular cost variance analysis, identifying trends, discrepancies, and potential cost overruns.
- Provide timely and accurate cost reports, forecasts, and cost performance analyses to project stakeholders.
- Develop detailed project cost estimates based on project scope, specifications, engineering designs, and other relevant inputs.
- Conduct comprehensive cost analysis by considering labour, materials, equipment, subcontracting, indirect costs, and contingency factors.
- Collaborate with project managers, engineers, and other stakeholders to ensure accurate cost estimation throughout the project lifecycle.
- Assist in developing and monitoring project budgets, ensuring alignment with cost estimates and financial constraints.
- Review and validate contractors and suppliers cost estimates.
- Collaborate with project teams to track and control project costs against established budgets, identifying and addressing cost variances.
- Analyze cost performance data, identify trends, and provide insights to project stakeholders regarding cost implications and potential risks.
- Evaluate project alternatives and propose value engineering solutions to optimize project costs without compromising quality or safety.
- Prepare regular cost reports, forecasts, and cost-to-completion analyses for project stakeholders.
- Collaborate with engineering teams to identify cost-saving opportunities, alternative materials, and construction methods.
- Conduct feasibility studies and cost-benefit analyses to support decision-making on value engineering initiatives.
- Establish and update cost estimating databases, historical data, and benchmarks for future reference and continuous improvement.
- Provide guidance and support to project teams on cost estimation techniques and methodologies.
- Collaborate with project teams to identify and assess project risks that could impact project costs.
- Assist in the development of risk response strategies and contingency plans to address potential cost uncertainties.
- Analyze the impact of identified risks on project cost estimates and incorporate appropriate contingencies.
- Collaborate with project managers, engineers, procurement teams, and other stakeholders to ensure accurate and collaborative cost estimation processes. Participate in project meetings, providing cost-related insights, recommendations, and updates.
- Communicate cost estimation assumptions, methodologies, and results to project stakeholders in a clear and concise manner.
- Foster strong working relationships with stakeholders, addressing their cost-related inquiries and concerns.
Competencies Skills, Experience, and Knowledge
- Minimum of a B.Sc Degree in a relevant Engineering discipline.
- MBA / Masters in applicable degree will be added advantage.
- PMP / PRINCE II certification or project management qualifications
- SAP – Project Systems.
- Minimum of 15 years’ experience as a Project Cost Estimator or in a similar role within the oil and gas industry.
- Strong knowledge of cost estimation methodologies, techniques, and best practices.
- Proficiency in cost estimating software and tools e.g., CostX, WinEst, Timberline, etc.
- Excellent analytical and mathematical skills with keen attention to detail.
- Strong understanding of project management principles and practices.
- Solid knowledge of engineering disciplines, construction methods, and industry-specific cost factors.
- Effective communication.
