Project Cost Control Engineer

Role & responsibilities

• Prepare and maintain project budgets, cost plans and cost control systems.
• Monitor actual project expenditure against approved budgets and identify cost variances.
• Track committed costs, actual costs, accruals and forecast costs.
• Prepare regular Cost Reports, Cost-to-Complete (CTC) and Estimate-at-Completion (EAC) reports.
• Analyse cost variances and provide explanations and corrective-action recommendations.
• Monitor project manpower, material, subcontractor, equipment and other project-related costs.
• Coordinate with Project Managers, Planning, Procurement, Contracts, Finance and Site teams for accurate cost reporting.
• Review purchase orders, subcontractor commitments and invoices against approved budgets.
• Monitor change orders, variations, claims and their financial impact on the project.
• Maintain project cost forecasts and update them based on project progress.
• Support project management in identifying cost overruns and potential financial risks.
• Prepare management dashboards and MIS reports relating to project cost and financial performance.
• Assist in monthly project closing, accruals and reconciliation with Finance/Accounts.
• Monitor project cash flow and support preparation of cash-flow forecasts.
• Ensure proper allocation of costs to relevant WBS/cost codes.
• Provide cost-related information for project reviews and management meetings.
• Maintain accurate documentation and records for project cost control and audit purposes.

Preferred candidate profile

• Strong understanding of project cost control and budget management.
• Experience with WBS, cost codes, commitments, accruals, forecasting and variance analysis.
• Good knowledge of project financial reporting.
• Strong MS Excel skills, including PivotTables, VLOOKUP/XLOOKUP, and data analysis.
• Experience with ERP/project-control systems such as SAP, Oracle, Primavera P6 or similar will be an advantage.
• Ability to analyse large volumes of project cost data.
• Strong coordination and communication skills.
• Good understanding of project contracts, procurement and subcontracting processes.

Industry Experience Mandatory

Candidates should have experience in one or more of the following:

• Shipbuilding / Ship Repair
• Offshore / Marine Projects
• Oil & Gas

Experience specifically in shipbuilding or Oil & Gas projects will be preferred.