Chief Cost Management Specialist
4 days ago
As a Cost Engineer, you will play a key role in ensuring that client objectives are met and projects are delivered to time and cost targets and the appropriate quality standards.
Key Responsibilities- Tailor cost control approaches to meet the client's needs and align with best practice.
- Implement, administer, and maintain cost control systems and procedures to track project budgets, commitments, expenditures, and forecasts.
- Work with the integrated project team to establish a robust, integrated, well-structured, accurate performance measurement baseline (PMB) and support the change control process.
- Develop project cost breakdown structures (CBS), align the time phasing of budgets against the work breakdown structure (WBS), to accurately track and control actual costs.
- Map and integrate cost estimates to the WBS, in order to set the project budget against the correct work packages, planning packages, and control accounts.
- Adhere to NEC or FIDIC contract processes for management, control, and reporting of cost data.
- Lead the production of accruals to ensure that the actual cost of work performed (ACWP) is accurately reflected in a timely manner in the cost data.
- Support the change process by providing cost information for change notes and to underpin forecasts.
- Update project forecasts to ensure comprehensive and aligned estimate to complete (ETC).
- Work with the project team to set out and implement cost capture requirements, including ensuring appropriate work orders (WO) are in place, structure of requisitions, aligning purchase order (PO) structure with WO's, and ensuring subcontract data provided can be used to monitor and control costs.
- Align purchase orders with CBS to give clarity of cost performance indices at an appropriate level within the Project;
- Validate and interrogate supply chain data to assist in accurate cost forecasting and trending, and work with the supply chain to understand variances, drive cost accuracy, and timely and accurate reporting.
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