Cost Control Engineer

-; Al Bihouth; On-site; AED 120,000 - 200,000; Full time

Job description

Mission

• Establish and manage a cost control system to support the PM's decision-making process and enable project completion within the approved budget.
• Ensure any deviations from the budget are promptly identified, analyzed, and their impacts estimated, with corrective actions monitored.
• Create a cost awareness environment among the project team.
• Satisfy Operating Company and Corporate requirements for cost control reporting by cooperating with relevant interfaces.

Tasks

At project initial phase:

• After contract award, implement the Cost Control System, develop the consolidated Cost Breakdown Structure according to relevant procedures, review procurement/accounting systems used by involved Operating Companies/Branches, and verify CBS application and cost traceability.
• Issue the Project Cost Control Procedure, Cost Coding Manual, and Risk Management Plan for Project Control Manager verification, aligning with standards and contract specifications, and configure the CBS to monitor procurement and accounting activities.
• If not provided during the commercial phase, split the Commercial Budget according to the intercompany scheme, contract, and work schedule to report revenues and costs by entity, currency, and main cost accounts, and prepare cash-flow by currency.
• Coordinate the startup of risk management activities, organizing initial brainstorming and qualitative/quantitative risk assessments.
• Perform Monte Carlo Analysis.

During project execution phase:

• Ensure the effectiveness of the Cost Control System and accurate cost status reporting.
• Monitor activity progress, earned value, and work value against invoices, determining monthly accruals to align accounts with work progress.
• Support during contract changes and claims by providing cost impact analysis and updating cost/revenue forecasts related to intercompany services.
• Analyze committed costs and activities to date, review estimates to complete, identify deviations or adverse trends, and advise the PM to take corrective actions.
• Maintain risk management processes through periodic meetings and feedback verification.
• Generate project and company reports.

At project closure:

• Assist in preparing the Project close-out Report and provide cost feedback data to Project Control and Commercial Departments.