A Cost Control Engineer is responsible for managing project costs and ensuring that they remain within budget constraints.
Responsibilities
· Perform cost engineering functions including budget preparation, cost control, cost forecasting and reporting.
· Encouraging the project team to be in line with the cost plan at all stages of the project and follow cost control procedures for the projects.
· Develop and execute cost control measures across the projects, analyze and identify improvements.
· Analyze material purchase orders compared to budget as part of the review process, and allocate proper budget heads based on cost code allocation for cost tracking.
· Preparation and maintaining of cost codes for existing and any new material orders across the disciplines.
· Monitor the status and actual cost for laborers, equipment & sub-contractors.
· Prepare project cost reporting from the project team data for management’s review on a monthly basis to ensure that expenditures are kept within the project budget.
· Maintain project personnel relationships with individual discipline group leaders and provide cost control advise to project management team as and when required.
· Ensure project costs are always reported against the approved budget and any variations to the budget to be identified and reported.
· Ensure project cost risks are properly controlled, and whenever necessary, give proper recommendations and issue corrective/preventive actions.
· Assist project controls manager for the development and management of the cost control systems to provide management with accurate cost information.
· Undertake any ad-hoc duties as required.
Qualifications
Bachelor Degree in Engineering (Mechanical/Electrical)
Software Knowledge
Autocad, Oracle, MS Office, Power BI etc