Cost Controller

Tornado Group; Abu Dhabi; On-site; AED 180,000 - 260,000; Full time

Job summary

Tornado Group is seeking a skilled Project Controls / Cost Controller to manage cost control, forecasting, and financial reporting across project lifecycles in Abu Dhabi, UAE.

The role involves establishing processes, maintaining WBS/NWA structures, coordinating forecast changes, and providing accurate cash flow forecasts to support project decisions.

Responsibilities

• Establish and communicate processes and routines required for effective control and reporting during the project lifecycle to all team members
• Establish a project coding structure in accordance with the Group guidelines.
• Assist/liaise with Project Planner for maintenance of project WBS and NWA structures
• Responsible for the reconciliation of forecasted and actual expenditures and the production of project accruals
• Responsible for the overall coordination of changes to the forecast based on inputs from Client, project management and other project team members as applicable
• Perform monthly closing adjustment in accounts: determine and post cost accruals and unbilled revenue, calculate and post revenue adjustments when its recognition is based upon cost progress
• Ensure in-depth analysis and reporting of variances on a monthly basis
• Prepare/compile cost and financial input to the PMSR (Project Monthly Status Report)
• Provide accurate project long term cash flow forecast on a monthly basis
• Perform economic analysis, deviations, probability, and support project management on any accounting issues and reporting related to the project
• Monitoring budgets to ensure that spending does not exceed approved levels
• Collecting cost data from suppliers or subcontractors to track material costs
• Preparing bid estimates for new projects or bids on existing projects

Job description

Job description

• 1. Establish and communicate processes and routines required for effective control and reporting during the project lifecycle to all team members


• 2. Establish a project coding structure in accordance with the Group guidelines.


• 3. Assist/liaise with Project Planner for maintenance of project WBS and NWA structures


• 4. Responsible for the reconciliation of forecasted and actual expenditures and the production of project accruals


• 5. Responsible for the overall coordination of changes to the forecast based on inputs from Client, project management and other project team members as applicable


• 6. Perform monthly closing adjustment in accounts: determine and post cost accruals and unbilled revenue, calculate and post revenue adjustments when its recognition is based upon cost progress


• 7. Ensure in-depth analysis and reporting of variances on a monthly basis


• 8. Prepare/compile cost and financial input to the PMSR (Project Monthly Status Report)


• 9. Provide accurate project long term cash flow forecast on a monthly basis


• 10. Perform economic analysis, deviations, probability, and support project management on any accounting issues and reporting related to the project


• 11. Monitoring budgets to ensure that spending does not exceed approved levels


• 12. Collecting cost data from suppliers or subcontractors to track material costs


• 13. Preparing bid estimates for new projects or bids on existing projects