The primary purpose of a Cost Controller is to manage the provision of financial performance analysis througheffective and compliant cost attribution, financial control, and reporting. This includes overseeing areas such asbudgeting, forecasting, accruals, journals, cash flow monitoring, payments processing, and cost recovery.Tasks and Responsibilities(a) Cost Management: Develop detailed breakdown on the cost estimates for projects, including labor, materials, andequipment. Track and monitor actual costs against the approved budget throughout the project lifecycle. Strong skills to prepare monthly cost reports, analyzing actual vs. expected costs, schedule updates,trend analysis, project progress (S-curves), performance metrics, and productivity analysis forassigned projects. Monthly high-level project dashboards and provide insightful reporting and analysis. Take proactive measures to reduce project costs, share analysis and calculations. Collaborate with project management to review and compare financial metrics for projects and thecompany. Identify and communicate major budget variances to project teams and management. Investigate cost-drain areas, proposing solutions and mitigation strategies to project teams andmanagement. Maintain records and conduct training for project teams to enhance awareness of site costs,productivity impacts, cost savings, and profitability. Strong knowledge to prepare quarterly/annually revenue forecasts and budgets. Evaluate bids from third-party subcontractors and vendors to ensure cost-effectiveness. Work closely with project planners and project engineers to ensure cost-efficiency in project delivery. Perform cost-benefit analyses on prospective projects and provide recommendations on their financialfeasibility.(b) Project Support: Work alongside the project management team to align cost and contract strategies with overallproject goals. Ensure the integration of cost and contract plans with overall turnaround schedules, particularly inrelation to rotating equipment. Assist in the development and implementation of procurement strategies for specialized equipmentand services required for the Project.(c) System and Process Management Implement, administer, and maintain cost control systems and procedures to track project budgets,commitments, expenditures, and forecasts. Develop project Cost Breakdown Structures (CBS) and align the time phasing of budgets againstWork Breakdown Structures (WBS) to accurately track and control actual costs Ensure the integration of cost estimates with the Work Breakdown Structure to set project budgetsagainst the correct Work Packages, Planning Packages, and Control Accounts
