Purpose:
To lead a team of cost controllers to efficiently perform the cost control process for the assigned project(s), including regular project cost status reviews, cost variance analysis and reporting to relevant stakeholders.
Responsibilities:
- Coordinate all efforts to collate and compile the necessary information to support timely cost data consolidation, analysis and reporting.
- Develop the project cost control procedures in accordance with project requirements and corporate standards, and ensure proper implementation in the course of work.
- Develop and maintain detailed cost control plans using Company tools and best industry practices; organize and maintain the integrity of cost information being collected.
- Set-up Cost Breakdown Structure and allocate budget, resources, and any other data required into the system.
- Lead the derivation and consolidation of commitments and actual costs by ensuring proper data collection from various systems and offices, i.e.: ERP system, timesheet system, construction yards database, etc.
- Review, analyze and update accurate forecasts of the assigned project(s) by using company standards and best industry practices.
- Conduct cost performance analysis, including variance, productivity and Earned Value analysis
- Ensure regular reporting is produced and distributed to relevant stakeholders as per company and projects requirements, providing details on control budget, commitments, actuals, forecasts, reasons for deviations, and suggested mitigation actions.
- Lead the reconciliation with accounting system and accruals derivation; manage the interfaces between Cost Control (cost controllers and/or cost engineers) and Finance (cost accountants) by defining responsibilities, timing and interface document or information.
- Provide information for currency hedging to Finance.
- Review and analyze Change Order requests and/or potential variations that impact project budget and forecasts, and maintain appropriate register.
- Establish appropriate coordination with other project functions to ensure compatibility with the Cost Control requirements and timely flow of the information.
- Contribute and participate to the Project Risk Management process by providing cost input and identifying potential budget and forecast impacts for risks’ occurrences.
- Perform cost risk quantitative analysis to define accurate contingency reserve by using company tools and best industry practices.
- Mentor, train and develop cost control staff as required.
- Assist in goals setting and performance review of assigned project cost control team members.
- Collate and submit lessons learnt and historical data to relevant stakeholders.
Requirements:
- Report to Project Controls Department Manager or Cost Control Section Lead when not assigned to a specific project.
- Report to Project Controls Manager or a different Project Controls position based on project complexity and relevant organogram (e.g.: Cost Control Manager, Cost Control Supervisor, etc.)
- Deal extensively with internal stakeholders such as Finance, Engineering, Planning, Document Control, Project Management, Procurement, Construction, Contracts, Quality, Operations, etc.
- Deal frequently with yards and engineering subcontractors on all aspects related to cost control and invoicing.
- Deal occasionally with client’s cost control representative if required by project and delegated by the direct report.
- Degree in Engineering, Science, Business Management, or Operations Management
- AACE certification (CCT or CCP) preferred
- 10 years of cost engineering experience in Oil & Gas industry or 15 years of cost engineering experience in other industries with understanding of technical knowledge of Oil & Gas process and FPSO projects. Previous working experience in a lead role is preferred.
R1552011
Peak Ocean EA License No. 18C9336
