Project Cost Controller

Project Cost Analysis and Control

• Monitor, analyze, and report on project costs for large-scale EPC projects.
• Track costs across engineering, procurement, and construction phases, ensuring alignment with budgets.
• Prepare detailed variance reports, analyzing the causes of deviations between budgeted and actual costs.
• Validating the Petty Cash and Non-PO Based Expense of Projects, Supplier assessment, advance to suppliers, utilization of credit facility and credit period.

• Collaborate with project teams to track progress and update percentage-of-completion calculations as per IFRS 15.
• Provide insights and reports on cost performance, profit margins, and project cashflow on a regular basis.

• Ensure compliance with contractual agreements and project-specific financial regulations.
• Validate costs in line with the contract terms and identify any cost overruns or savings opportunities.
• Conduct audits to ensure all costs are allocated accurately to their respective projects and phases.

• Work with procurement to control and analyze material and service costs.
• Ensure proper valuation of inventory used for EPC projects and implement strategies to minimize waste and cost.

• Identify potential risks related to project costs, including scope changes, delays, or unexpected expenses.
• Recommend strategies for cost reduction, such as value engineering or efficiency improvements, manpower management, material management, reducing idle time.

• Track, record, and monitor fixed assets (e.g., machinery, equipment) at the project site to ensure proper utilization and maintenance.
• Oversee asset capitalization, depreciation calculations, and ensure compliance with relevant accounting standards (e.g., IAS 16 for Property, Plant, and Equipment).
• Conduct periodic asset audits and reconcile asset records to ensure accuracy and prevent asset misplacement or misuse.

• Prepare regular financial and cost reports, analyzing project expenses, and forecasting costs for project budgeting purposes.
• Generate monthly, quarterly, and annual reports for COO, Project managers, detailing variances, expected cost overruns, and other key financial metrics.
• Collaborate with the finance department to support overall financial reporting.