Cost Estimation & Budgeting:

• Prepare detailed cost estimates for projects, including materials, labor, equipment, and subcontractor costs.
• Develop and monitor project budgets, ensuring alignment with financial constraints and forecasts.
• Identify cost-saving opportunities without compromising quality or project objectives.

2. Cost Tracking & Analysis:

• Monitor actual costs vs. budgeted costs, identifying variances and potential risks.
• Conduct cost trend analysis and report deviations to management.
• Maintain cost breakdown structures (CBS) for accurate financial reporting.

3. Financial Reporting & Documentation:

• Generate weekly/monthly cost reports and present key findings to stakeholders.
• Maintain detailed cost records for auditing and reference purposes.
• Support the forecasting and cash flow analysis process to ensure financial stability.

4. Risk Management & Cost Control:

• Identify potential financial risks and recommend strategies to mitigate them.
• Ensure that project expenditures comply with contractual obligations and company policies.
• Assist in the review of change orders, claims, and contract variations.

5. Collaboration & Coordination:

• Work closely with procurement, finance, and project teams to align cost management strategies.
• Review supplier and subcontractor invoices to ensure cost accuracy.
• Support cost negotiations and provide recommendations for cost efficiency.

6. Process Improvement & Compliance:

• Implement cost control procedures and best practices to enhance project financial management.
• Stay updated on industry trends, inflation rates, and cost estimation techniques.
• Ensure compliance with financial regulations, contract terms, and internal policies

Skills

• Bachelor’s Degree in Civil Engineering, Mechanical Engineering, Finance, or a related field.
• Professional certifications like CMA, CIMA, CCP (Certified Cost Professional), or PMP are an advantage.
• Minimum 5 years of experience in cost engineering, cost control, or project financial management.
• Experience in construction, oil & gas, engineering, or manufacturing industries is preferred.
• Proficiency in cost management software (e.g., SAP, Primavera P6, CCS Candy).
• Strong knowledge of budgeting, forecasting, and financial reporting tools.
• Advanced Excel skills, including pivot tables and data analysis.
• Analytical Thinking: Ability to assess financial data and make informed decisions.
• Problem-Solving: Proactively identifying cost-related challenges and solutions.
• Attention to Detail: Ensuring financial accuracy and minimizing errors.
• Effective Communication: Presenting financial insights to both technical and non-technical stakeholders.
• Time Management: Handling multiple projects and deadlines efficiently.
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