Costing & Budgeting - Civil, HO

Larsen & Toubro; Mumbai; On-site; INR 900,000 - 1,200,000; Full time

Job summary

Larsen & Toubro in India is seeking a Team Member – Cost Management to support budgeting, cost tracking and variance analysis across multiple projects and business units. The role ensures consistency in cost control practices and provides timely cost data to management.

You will collaborate with project teams, prepare budgets, monitor BOQ and reports, and contribute to process improvements using ERP and project control tools.

Qualifications

• Budgeting, cost tracking and variance analysis experience.

Responsibilities

• Support achievement of cost and margin targets across projects.
• Track project budgets and actual costs.
• Identify cost overruns and saving opportunities.
• Provide accurate cost data to project and business teams.
• Prepare MIS reports for management review.
• Maintain cost control systems and databases.
• Assist in preparation of budgets and cost estimates.
• Track actual costs and prepare variance analysis.
• Support BOQ reviews and contract cost monitoring.

Skills

Budgeting

Cost tracking

Variance analysis

MIS reporting

BOQ review

Cost control

ERP & project controls

Education

B.E. Civil

MBA (Finance) / CA-Inter / CMA-Inter

Tools

ERP systems

Job description

SECTION I: ROLE SUMMARY (Purpose of the Role)

The Team Member – Cost Management (Pan Organization) supports budgeting, cost tracking and variance analysis across multiple projects and business units. The role ensures consistency in cost control practices and provides timely cost data to support management decisions across the organization.

SECTION II: KEY RESPONSIBILITIES/ ACCOUNTABILITIES

Financial / Functional perspective

• Support achievement of cost and margin targets across projects
• Track project budgets and actual costs
• Identify cost overruns and saving opportunities
• Support financial discipline across the organization

Customer Perspective

• Provide accurate cost data to project and business teams
• Support management with reliable cost reports
• Partner with project teams to meet cost objectives
• Enhance stakeholder confidence through transparent cost information

Internal Process Perspective

• Assist in preparation of budgets and cost estimates
• Track actual costs and prepare variance analysis
• Support BOQ reviews and contract cost monitoring
• Maintain cost control systems and databases
• Prepare MIS reports for management review
• Ensure adherence to cost control processes and policies

Learning & Growth / Developmental Perspective

• Build expertise in cost management and project controls
• Learn advanced cost analysis and forecasting techniques
• Develop skills in ERP and project control tools
• Participate in process improvement initiatives

SECTION III: KNOWLEDGE & EXPERIENCE

KNOWLEDGE

Minimum Qualifications

• B.E. Civil / Quantity Surveying / MBA (Finance) / CA-Inter / CMA-Inter

Language Skills

• English
• National (Preferred)
• Regional (Desirable)

Experience

Years of Experience

Nature of

Experience

• Experience in budgeting, cost tracking, variance analysis, BOQ review and MIS reporting in real estate or infrastructure projects.

SECTION IV: TECHNICAL & LEADERSHIP / BEHAVIORAL SKILLS REQUIRED TO EXECUTE THE ROLE

Skills

Technical Skills

(if available)

• Ability to apply knowledge of forecasting to plan,allocate, andmonitorfinancial resources in engineering design (if applicable) and executionof projects, ensuring adherence to theallocatedbudget while achieving project goals and timelines
• Ability to systematically compare, verify, and align records, data sets, or transactions (material usage / incoming material checks as per specified codes / material stock and consumption / supplier invoices / contractor bills / customer invoices / advances and deposits etc. as applicable) across different systems or sources to identify discrepancies, resolve errors, and ensure data integrity and consistency for accurate reporting and compliance with standards
• Ability to understand project/package requirements and accurately determine/ forecast the anticipated costs by evaluating materials, manpower, equipment, vendor and overhead expenses keeping in view market realities and historical data from past project deployments to prepare a detailed estimate plan (or ACE plan, as applicable) that informs budgeting and financial planning
• Ability to apply knowledge of existing performance criteria (cost, timelines, quality, past records etc.) and market pricing to evaluate and determine the most accurate and cost-effective rates for resources (manpower, materials, equipment, etc.) and services acquired through vendors, ensuring the chosen rates align with the budget and goals
• Ability to apply knowledge of basic principles of forecasting, costestimationand budget management to conduct variance analysis, analyzing deviations in materials, labor, and overhead expenses, enabling corrective actions,optimizingcostsand improving financial control over projects