Cost Controller

Job Purpose

To monitor, control, and analyze project costs against approved budgets, identify cost variances and potential overruns, and provide accurate cost reports and forecasts to support effective project financial management.

Key Responsibilities

Budget Management

Develop and maintain project budgets in coordination with Project Managers and relevant stakeholders.

Monitor budget allocations, commitments, and expenditures to ensure adherence to approved budgets and financial guidelines.

Cost Monitoring & Analysis

Track project expenses and actual costs against approved budgets.

Analyze cost variances, identify discrepancies, and coordinate with concerned teams for corrective actions.

Monitor committed, incurred, and projected costs throughout the project lifecycle.

Cost Forecasting & Reporting

Prepare periodic cost reports, forecasts, and cost trend analyses.

Provide timely updates on project cost performance, budget utilization, and projected final costs.

Highlight significant cost deviations and trends to Project Management and Management.

Cost Risk Management

Identify potential cost overruns, financial risks, and areas of cost escalation.

Coordinate with project teams to assess financial impact and implement appropriate corrective measures.

Vendor & Contract Cost Monitoring

Review vendor quotations/proposals and support commercial evaluation.

Monitor vendor invoices, payments, and contractual commitments for accuracy and compliance with approved budgets and contract terms.

Coordinate with Procurement, Contracts, Commercial, and Finance teams regarding cost-related matters.

Cost Control & Process Improvement

Ensure effective implementation of project cost control procedures and systems.

Identify opportunities to improve cost monitoring, reporting, and control processes.

Implement standard practices to improve cost efficiency and financial visibility.

Coordination & Communication

Coordinate with Project Managers, Planning, Procurement, Contracts, Commercial, Finance, and other project functions on cost-related matters.

Ensure timely collection and validation of cost data from various departments.

Communicate cost performance, variances, risks, and corrective actions to relevant stakeholders.

 

 

Key Skills

Project Cost Control & Budget Management

Cost Variance Analysis

Cost Forecasting & Reporting

Budget vs. Actual Analysis

Cost Trend Analysis

Vendor & Contract Cost Monitoring

Financial Risk Identification

MS Excel / Advanced Excel

ERP / Project Management Systems

Strong Analytical & Reporting Skills

Cross-functional Coordination

Preferred Industry Experience

Candidates with experience in Construction – Power Plant / Industrial / Infrastructure

Key Performance Areas

Accuracy and timeliness of project cost reports

Budget adherence and cost variance monitoring

Timely identification of cost overruns and risks

Accuracy of cost forecasts

Effective monitoring of vendor/contract costs

Timely implementation of corrective actions

Improvement in cost control and reporting processes