Cost Control Engineer

responsible for monitoring expenses, comparing budgets with actual spending, and overseeing cost management during major changes in products or processes. generate reports that influence managerial decisions and should have expertise in data and financial analysis. Their role involves setting standard costs, examining discrepancies in expenditures, and producing detailed reports both regularly and as needed. Additionally, they design and oversee budgets, track expenditures, and perform financial process audits and transaction evaluations. Skills like problem-solving, team-working, project management and being detail-oriented are highly desirable

1. Principal Accountabilities: (the 6-9 main areas of responsibility)

Cost control Engineer

• Continuous monitoring of actual costs.

• Prepare the detailed planning of the project’s budget.

• Ensure department managers meet budget submission deadlines

• Analyse financial information (e.g. revenues, expenditures and cash management) to ensure all operations are within budget

• Co-ordinate with Projects cost controller / Project manager / Director

• Forecasting future expenditures.

• Examining discrepancies in expenditures

• Optimizing as necessary to avoid budget overruns.

• Maintenance of the allocation system (cost center - allocation methodology – cost category)

• Performing the month end close closing activity and checklist.

• Preparation of the project performance reports

• Closely cooperate with operation team

• Participate in the Simplification (standardized the process)

Self-Management

1. Define performance goals at the start of the year in discussion with the reporting manager and ensure that the goals are monitored and achieved during the course of the year

2. Take ownership of your own learning agenda by identifying development needs in consultation with the reporting manager and working towards bridging the gaps through various means which go beyond just training

3. Understand the competencies relevant to the role, and work towards displaying as well as developing these effectively

4. Keep abreast of relevant professional developments, new techniques, and current issues through continued education and professional networks

5. Handle any additional tasks as per business needs

Policies, Processes & Procedures

1. Follow all relevant company and ePMO department policies, processes, standard operating procedures, and instructions so that work is carried out in a controlled and consistent manner.

2. Comply with all relevant safety, quality, and environmental management policies, procedures, and cont­­­­­­rols to ensure a healthy and safe work environment.

3. Comply with all relevant information security practices and standards to ensure data integrity and confidentiality.

4. Key Relationships: (What are the key internal and external relationships necessary for achievement of the job accountabilities)

Internally

• Planning & Cost Control Supervisor

• PMO Department Employees

• Finance Department Employees

• Projects Employees

Externally

• Vendors

• Subcontractors

• Consultants

• Governmental Authorities & Ministries

Required Academic Qualification

1. Specification

Bachelor

1. Degree

Engineering, Construction Management, costing knowledge

1. Years of Experience

• 8+ years of relevant experience in construction projects cost control 

• PMP Certificate preferrable. CMA or any financial certificates

• Skills and Competencies (What is required for fully acceptable performance in the job?)

Name

Level

Cost Consciousness

Basic

Project Management

Basic

Process Improvement

Basic

Follow Up & Coordination  

Basic

Stakeholders Management

Basic