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Cost Control Lead at Wood
Dubai, United Arab Emirates
Job Descrption
This role will be seconded to the client
RESPONSIBILITIES
- The preparation and reporting of project cost budgets, and the tracking, management and reporting of project expenditure to enable robust control of projects throughout their lifecycle.
- Accountable for the development of project budgets, the tracking of actual and forecasted costs and the generation of cost reports, ensuring they are prepared to the required level of detail and accuracy and accordance with contractual requirements and Wood policies, procedures and standards.
- Supervises, guides, and manages the Cost team in terms of delegating work, reviewing the work output of the team where appropriate, providing guidance and support, and managing the development of the Cost team members.
- Accountable for ensuring project budgets, costs and reports are documented and auditable and that project budgets, costs and reports... maintained and issued in a controlled manner.
- Acts as focal point for all aspects of cost support to the project team and client, managing the communications interfaces essential for the effective delivery of project cost analysis and support. Accountable for identifying areas of best practise and driving continuous improvement within the Cost team.
- Responsible for ensuring cost systems, process, procedures, and standards are maintained
Key Accountabilities & Responsibilities
- Generate/Update Financial Reports: AFE Cost Reports, monitoring of expenditures (VOWD / WIP)
- Preparation of Cost Estimates: Screening, Concept and EPC Bid Check Estimates (Capex Estimates).
- Manage POs: Maintain PO register, Initiate amendments, Raise PRs and facilitate approval.
- Evaluate Contractors Cost/schedule reports & deliverables.
- Generate contracting and tendering strategies/plan, Coordinate /Assist ITT preps, Administer Bid evaluation process.
- Award recommendation proposal in conjunction with the bid evaluation team and route for endorsement/approval.
- Co-ordinate Functional Engagement Plans for intercompany work support.
- Ensure integrated Change management dealing with change orders with Client/Contractors
- Prepare of Project Close out report/Secure approvals and handing over.
- Accountable for ensuring project cost budgets are developed and maintained in accordance with the Project Work Breakdown Structure (WBS) and the Basis of Estimate.
- Effectively manage the communications interfaces essential for the delivery of the cost function
- Liaise with procurement, finance, and time-capture functions, and third parties as required, to ensure accurate and timely capture of procurement, materials, subcontract and labor manhour costs. Ensure costs are allocated accurately in accordance with approved project WBS.
- Liaise with engineering, procurement and construction functions, and others as required, to maintain awareness of project activities and their impact on the project budget, schedule, and cost forecast.
- Manage the project / assignment work approval process in terms of accurate cost code allocation and initial budget set-up and approvals.
- Accountable for ensuring project cost budgets are developed and maintained using appropriate software applications
- Monitor and review cost commitments and expenditures through all phases of project lifecycle
- Liaise with project management, project planning, and others as required to ensure accuracy in project cost phasing and forecasting.
- Review and evaluate project cost performance reports in accordance with project reporting requirements.
- Review and evaluate updates to project cost forecasts
- Review and analyze on cost impact of project manpower forecasts
- Review and issue of project change orders / variations in accordance with engineering and construction change notifications.
- Review, assess and communicate cost and schedule impact of change notifications.
- Monitor cost impact of achievement / non-achievement of major project milestones.
- Monitor overall project cost performance and contingency drawdown.
- Attend project / client periodic meetings and present project cost performance status as required.
- Lead the project cost close-out process.
- Facilitate & participate in contract and corporate Risk Analysis sessions
- Lead and participate in Project Controls Compliance and Continuous Improvement Reviews
- Play a key role in the mentoring and career development of Cost personnel
- Delegate and manage the work of subordinate project controls staff as required
- Provide direction, guidance and support to subordinate project controls staff as required
- Assist in staff performance reviews for cost team
- Participate in contract and corporate Audits
- Engineering Degree in a relevant technical or business discipline (or equivalent gained through relevant vocational training and/or industry experience)
- Incumbents will typically have a minimum 15 years relevant cost experience
- Excellent knowledge of cost software and related principles, tools and techniques including budgeting, forecasting and cash-flow
- Excellent knowledge of Project Execution Procedures for Cost Management including Change Management
- Excellent understanding of WBS & CBS structures and project reporting capabilities
- Advanced ability to develop project cost budgets and change estimates
- Advanced ability to prepare cost reports
- Excellent understanding of change management and associated cost and schedule processes
- Excellent understanding of earned value application, cost and schedule variance analyses/trending and what-if scenarios
- Excellent understanding of project management principles and techniques
- Excellent understanding of Cost Management, Change Control, Planning & Risk Analysis & Management
- Prior experience in a Senior or Principal Cost role and managing a team
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