Principal Engineer - Cost Controller
Location
Mumbai | India
Job description
Job Description: Principal Engineer - Cost Controller
Company Overview Tecnimont is a leading international engineering company specializing in the fields of oil and gas, petrochemicals, and power generation. With a diverse portfolio of projects across the globe, Tecnimont is committed to delivering innovative and sustainable solutions to its clients. As a Principal Engineer - Cost Controller, you will play a vital role in ensuring efficient cost control and financial management for Tecnimont's projects.
Job Summary The Principal Engineer - Cost Controller is responsible for overseeing and managing all cost control activities related to engineering and construction projects. This role requires a high level of analytical and financial expertise, as well as strong communication and leadership skills. The Cost Controller will collaborate closely with project managers, engineers, and financial teams to monitor project costs, track budget compliance, and provide accurate financial reports.
Key Responsibilities - Develop and implement cost control procedures and policies to ensure effective cost management throughout the project lifecycle.
- Prepare comprehensive project cost estimates, budgets, and forecasts, considering factors such as labor, materials, equipment, subcontractor costs, and other project-related expenses.
- Monitor and analyze project costs, identifying any deviations from the budget and providing timely recommendations for corrective actions.
- Collaborate with project teams to ensure accurate recording and reporting of financial data, including cost accruals, variances, and actual expenditures.
- Conduct regular cost analysis, comparing actual costs against budgeted costs and identifying areas for potential cost savings or efficiency improvements.
- Review and assess subcontractor and vendor invoices, ensuring compliance with contractual terms and timely payment processing.
- Prepare and present financial reports, cost performance metrics, and progress updates to project stakeholders, highlighting any significant cost overruns or deviations.
- Collaborate with procurement and purchasing teams to analyze vendor bids and negotiate favorable pricing agreements.
- Support the project risk management process by identifying and assessing potential cost-related risks and proposing mitigation strategies.
- Stay updated on industry trends, best practices, and regulatory requirements related to project cost control, and provide recommendations for continuous process improvements.
Qualifications And Skills - Bachelor's degree in Engineering, Finance, or a related field. Advanced degree or professional certifications in cost engineering or project management is a plus.
- Proven experience in cost control or project control roles within the engineering or construction industry, preferably with exposure to large-scale projects.
- Strong analytical skills and attention to detail, with the ability to interpret and analyze complex financial data.
- Proficient in the use of cost control software, financial modeling tools, and project management software.
- Excellent communication and interpersonal skills, with the ability to collaborate effectively at all levels of the organization.
- Strong leadership abilities, with the capacity to lead and motivate a team of cost control professionals.
- In-depth knowledge of cost control methodologies, financial analysis techniques, and budgeting processes.
- Familiarity with international standards and guidelines related to project cost control, such as the AACE International's Cost Engineering Body of Knowledge (CEBoK).
- Ability to work under pressure and meet tight deadlines, while maintaining a high level of accuracy and attention to detail.
- Flexible and adaptable, with the ability to effectively manage multiple projects and priorities simultaneously.
Join Tecnimont and be part of a dynamic and innovative team committed to delivering excellence in engineering and project management. As a Principal Engineer - Cost Controller, you will contribute to the successful implementation of Technimont's projects by ensuring effective cost control measures and financial management practices. Apply now and take your career to new heights in this exciting role!
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