Cost Control Engineer - GL0004

The Cost Control Engineer is responsible for monitoring, analyzing, and controlling project costs to ensure delivery within the approved budget, while maintaining compliance with contractual, company, and client requirements. The role supports the Project Manager and Project Controls Manager by providing accurate cost reporting, forecasting, and variance analysis across the project lifecycle.

Cost Planning & Budgeting

• Develop the project cost control plan in alignment with the Project Execution Plan (PEP).
• Establish and maintain the Cost Breakdown Structure (CBS) and Work Breakdown Structure (WBS).
• Prepare the initial project budget based on contract, scope, and estimates.
• Allocate budgets to disciplines, departments, and subcontractors.

Cost Monitoring & Control

• Track actual expenditures versus budget and commitments.
• Analyse cost trends to identify potential overruns and recommend corrective actions.
• Ensure proper cost coding and allocation of charges in the ERP system.
• Monitor subcontractor and vendor costs against agreed contracts.

Forecasting & Variance Analysis

• Prepare monthly cost reports with actuals, commitments, forecasts, and variance explanations.
• Provide Estimate at Completion (EAC) and Estimate to Complete (ETC) updates.
• Conduct variance analysis for labour, materials, equipment, and subcontractor costs.
• Change Management Support:
• Evaluate cost impacts of contract variations and change orders.
• Maintain a log of all approved and pending changes with cost implications.
• Assist in claims preparation and negotiations from a cost perspective.

Reporting & Communication

• Prepare and issue weekly/monthly cost control reports for management and the client.
• Support project review meetings with updated cost performance data.
• Interface with planning, procurement, and engineering to ensure cost data accuracy.
• Attention to detail and accuracy in financial data.
• Strong problem-solving and analytical abilities.
• Excellent communication and reporting skills.
• Ability to work under pressure and meet deadlines.
• Team player with cross-functional coordination skills.

Project Scope Responsibility Distribution

• Cost Inputs: Yard fabrication, civil works, procurement, utilities, land logistics – Offshore installation, marine spread, Barge vessel hire, offshore logistics.
• Reporting: Fabrication Yard productivity and cost KPIs – Cost & time charter monitoring

Minimum Qualifications

• Bachelor’s degree from an accredited university.
• Work experience of eight years in the sought discipline after earning degree.
• Excellent spoken and written English including proven ability to write reports.

Job Features

Job Category Energy