Project Cost Controller

NEW Alfa International; Saudi Arabia; On-site; SAR 60,000 - 100,000; Full time

Job summary

An established industry player is seeking a skilled Project Cost Controller to oversee financial aspects of large-scale EPC projects in Dammam, Saudi Arabia. This role involves in-depth project cost analysis, compliance with financial regulations, and collaboration with project teams to ensure accurate cost reporting. The ideal candidate will possess extensive knowledge of IFRS standards and strong analytical skills, enabling them to provide valuable insights into cost performance and project cash flow. Join this dynamic team and contribute to optimizing project costs while ensuring financial integrity.

Qualifications

• 8 years of experience in EPC industry required.
• Strong analytical skills in budgeting and variance analysis.

Responsibilities

• Analyze and control project costs for large-scale EPC projects.
• Prepare detailed variance reports and validate costs.
• Ensure compliance with contractual agreements and financial regulations.

Skills

IFRS standards knowledge

EPC project lifecycle understanding

Project management software proficiency

Analytical skills in cost analysis

Effective communication skills

Education

CWA/CMA

Tools

SAP

Oracle

Job description

Job Title

Project Cost Controller

Qualifications

CWA/CMA with 8 years of experience in EPC Industry must. Nationality: India

Job Location

Dammam, Saudi Arabia

Key Responsibilities

1. Project Cost Analysis and Control
2. Monitor, analyze, and report on project costs for large-scale EPC projects. Track costs across engineering, procurement, and construction phases, ensuring alignment with budgets.
3. Prepare detailed variance reports, analyzing the causes of deviations between budgeted and actual costs. Validate petty cash and non-PO expenses, assess suppliers, manage advances and credit facilities.

1. Progress Monitoring and Reporting
2. Collaborate with project teams to track progress and update percentage-of-completion calculations as per IFRS 15.
3. Provide insights and reports on cost performance, profit margins, and project cash flow regularly.

1. Contract and Cost Compliance
2. Ensure compliance with contractual agreements and project-specific financial regulations. Validate costs according to contract terms and identify overruns or savings. Conduct audits for accurate cost allocation.

1. Inventory and Procurement Cost Management
2. Coordinate with procurement to control material and service costs. Ensure proper inventory valuation and implement waste reduction strategies.

1. Risk Management and Cost Optimization
2. Identify risks related to project costs and recommend reduction strategies like value engineering and efficiency improvements.

1. Fixed Assets Management at Project Site
2. Track and maintain fixed assets, oversee asset capitalization, depreciation, and conduct periodic audits to ensure accuracy.

1. Financial Reporting and Forecasting
2. Prepare financial reports, analyze expenses, forecast costs, and support overall financial reporting efforts.

Required Skills

• Knowledge of IFRS standards, especially IFRS 15, IFRS 9, IFRS 16, and IAS 16
• Understanding of EPC project lifecycle, cost drivers, and risks
• Proficiency in project management and accounting software (SAP, Oracle)
• Strong analytical skills in cost analysis, budgeting, and variance analysis
• Effective communication skills for presenting financial insights