Project Cost Manager / Project Controls Specialist

Job Summary

We are seeking an experienced Project Cost Manager / Project Controls professional to support cost management for large-scale capital projects. The successful candidate will be responsible for project cost forecasting, budgeting, monthly accruals, cost reporting, variance analysis, and monitoring project spending throughout the project lifecycle.

This role works closely with Project Managers, Engineers, Construction Managers, and other project stakeholders to maintain accurate cost forecasts, identify financial risks, evaluate budget deviations, and support cost-effective project execution.

The ideal candidate has hands-on experience managing costs for capital projects in engineering, construction, EPC, petrochemical, oil and gas, or industrial environments. Strong analytical, reporting, communication, and problem-solving skills are essential.

Key Responsibilities

• Establish and maintain project cost baselines by integrating cost estimates, work-hour estimates, and project schedules.
• Develop, update, and maintain project cost forecasts to estimate total project costs and remaining expenditures.
• Gather, validate, and analyze cost data from multiple project disciplines and functional teams.
• Prepare monthly project cost reports, accruals, cash flow forecasts, and cost performance analyses.
• Monitor actual spending, contractual commitments, purchase orders, and remaining project budgets.
• Analyze budget variances, identify cost trends, investigate deviations, and communicate potential impacts to project leadership.
• Track change orders, project execution changes, and other cost adjustments to ensure accurate financial reporting.
• Evaluate the financial impact of scope changes, project deviations, and potential cancellations.
• Develop contingency analyses and provide supporting data for project performance metrics, benchmarking, and project closure.
• Collaborate with project stakeholders to develop realistic cost forecasts and identify corrective actions when project costs exceed established tolerances.
• Maintain accurate, timely, and consistent project cost documentation and reporting.
• Proactively communicate cost risks, emerging trends, and other issues that may affect project budgets or financial performance.

Required Qualifications

• Several years of hands-on experience in project cost management, project controls, or a closely related discipline.
• Strong experience in project cost forecasting, budgeting, accruals, and variance analysis.
• Experience monitoring project expenditures, commitments, cash flow, and cost performance.
• Ability to analyze actual costs against budgets and forecasts and explain variances to stakeholders.
• Experience preparing monthly cost reports and presenting financial updates to project teams or leadership.
• Strong analytical, organizational, communication, and problem-solving skills.
• Ability to work independently with minimal supervision and training.
• Strong Microsoft Excel skills and experience working with cost data and reporting tools.
• Bachelor's degree in a relevant discipline preferred; equivalent practical experience may be considered.

Preferred Qualifications

• Experience supporting capital projects, large engineering programs, industrial projects, or construction projects.
• Background in Engineering, Procurement & Construction (EPC), petrochemical, chemical manufacturing, oil and gas, or related industrial environments.
• Experience working with Project Managers, Engineers, Construction Managers, Procurement, and Project Controls teams.
• SAP experience is highly preferred.
• EcoSys experience is a plus.
• Familiarity with work breakdown structures (WBS), cost baselines, cost trending, contingency analysis, and project change management.

Important Candidate Profile

Candidates should have direct experience with project-based cost management and financial forecasting , rather than general corporate accounting.

Experience should include project budgets, cost commitments, actual expenditures, forecasts, accruals, and variance analysis in a capital project or comparable project environment.

Work Arrangement

• Houston-area candidates preferred.
• Hybrid work schedule with four days onsite and Fridays remote.
• Standard 40-hour workweek.
• Flexible start times, with limited overtime expected.
• Free parking available at the office.