- Prepare Detailed Cost Estimates: Develop comprehensive cost estimates for projects during the planning phase, including direct and indirect costs such as materials, labor, equipment, overheads, and contingencies.
- Create and Manage Project Budgets: Establish project budgets based on the initial estimates, incorporating client requirements, project scope, and historical data.
- Work with Other Departments: Collaborate with the project team (design, procurement, and engineering) to refine and validate budget estimates.
- Establish Financial Milestones: Define key financial milestones and payment schedules based on the contract terms.
- Track Project Costs: Regularly monitor and track project costs to ensure they are within the approved budget. This includes monitoring material, labor, and overhead costs.
- Control Cost Variances: Identify and investigate any cost variances, analyze their causes, and implement corrective actions when necessary.
- Monitor Cash Flow: Ensure that the project's cash flow aligns with the budgeted schedule, including payments to subcontractors and suppliers.
- Cost Reporting: Provide regular cost reports to senior management, project managers, and clients, detailing the current financial status of the project and any potential cost overruns.
- Forecast Future Costs: Continuously forecast future project costs based on current spending trends and progress, adjusting projections as required.
- Review Contracts & Subcontracts: Examine contract terms, including payment schedules, to ensure that costs are appropriately managed and controlled.
- Manage Change Orders: Oversee the processing and tracking of change orders, ensuring that all changes are properly documented, justified, and reflected in the cost reports and project budget.
- Assess Impact of Changes: Evaluate the cost impact of design changes, scope adjustments, and unforeseen conditions, and recommend solutions to minimize financial impact.
- Negotiate with Contractors: Engage with contractors and subcontractors to review and negotiate costs for change orders or additional work outside the original scope.
- Identify and Assess Risks: Proactively identify potential financial risks to the project (e.g., delays, supply chain issues, price fluctuations) and assess their impact on the budget.
- Develop Mitigation Strategies: Work with the project team to develop and implement strategies for mitigating cost risks, including contingencies, value engineering, and cost-saving measures.
- Update Risk Registers: Maintain a cost-related risk register and update it with new information as the project progresses.
- Track Key Performance Indicators (KPIs): Monitor cost-related KPIs such as Cost Performance Index (CPI), Schedule Performance Index (SPI), and Estimate at Completion (EAC) to assess project health.
- Prepare Detailed Financial Reports: Generate financial reports for management review, including forecasting final project costs and providing detailed variance analysis.
- Monitor Payment Schedules: Ensure that payment milestones are met, including managing cash flow forecasts to ensure timely payments to contractors and suppliers.
- Coordinate with Finance Departments: Work closely with the company’s finance department to ensure alignment between project cost data and financial accounting, including verifying invoices and approvals.
- Assist with Tendering & Procurement: Review and analyze supplier and contractor bids, ensuring that all cost elements are covered and that the bids align with the project's budget.
- Contract Price Evaluation: Evaluate the proposed prices and assess the financial risks associated with selected suppliers and contractors.
- Procurement Budget Tracking: Ensure that procurement costs are tracked and remain within the allocated budget.
BSc. in Civil or Architecture EngineeringMinimum 10 years of experienceSpecific experience in Cost Control and Quantity Surveying