Project Cost Controller

Job Description

Project Cost Analysis and Control

Monitor, analyze, and report on project costs for large-scale EPC projects.
Track and control costs across Engineering, Procurement, and Construction phases, ensuring alignment with approved budgets.
Prepare detailed variance reports and analyze deviations between budgeted and actual costs.
Validate petty cash and non-PO-based project expenses, supplier assessments, advances to suppliers, and utilization of credit facilities.
Progress Monitoring and Reporting

Collaborate with project teams to track progress and update percentage-of-completion (POC) calculations as per IFRS 15.
Provide regular insights on cost performance, profit margins, and project cash flow.
Contract and Cost Compliance

Ensure compliance with contractual terms and project-specific financial guidelines.
Validate project costs against contract provisions and identify cost overruns or savings.
Conduct cost allocation audits to ensure accuracy across project phases.
Inventory and Procurement Cost Management

Work closely with procurement teams to analyze and control material and service costs.
Ensure proper valuation of inventory used for EPC projects and implement cost-reduction strategies to minimize waste.
Risk Management and Cost Optimization

Identify potential cost risks such as scope changes, delays, or unforeseen expenses.
Recommend cost optimization measures through value engineering, manpower efficiency, and material utilization.
Fixed Assets Management at Project Sites

Track, record, and monitor all fixed assets (equipment, machinery, tools) at project sites.
Manage asset capitalization, depreciation (as per IAS 16), and ensure compliance with accounting standards.
Conduct periodic asset audits to ensure accuracy and prevent misuse.
Financial Reporting and Forecasting

Prepare monthly, quarterly, and annual financial and cost reports for management.
Forecast project costs, highlight potential overruns, and support budgeting activities.
Coordinate with the Finance Department to support company-wide financial reporting.
Desired Candidate Profile

Any Nationality

MBA/PG Diploma in Business Mgmt(Finance), Chartered Financial Analyst(Finance), Chartered Accountant(Chartered Accountant)

Any

Required Skills and Knowledge
Accounting Standards: In-depth knowledge of IFRS (especially IFRS 15, IFRS 9, IFRS 16, and IAS 16).
Industry Expertise: Comprehensive understanding of EPC project lifecycle, cost drivers, and financial risks.
Software Proficiency: Hands-on experience with SAP, Oracle, or other project accounting systems.
Analytical Skills: Strong expertise in cost analysis, budgeting, and variance reporting.
Communication: Excellent coordination and reporting skills with multi-disciplinary teams.