Cost Manager
Ventora Staffing · Mumbai · onsite · Posted 21d ago
About a minute. You'll make an account on the way through.
About this role
Key Responsibilities:
Cost Planning & Budget Management:
- Develop and maintain the overall project cost plan and budget.
- Establish cost benchmarks and monitor project expenditure against approved budgets.
- Prepare cost estimates at various stages of design development.
- Provide cost advice to the Client and Project Director during design and execution.
- Identify potential cost risks and recommend mitigation measures.
Pre-Contract Cost Management:
- Review project scope, drawings, specifications, and BOQs for cost implications.
- Prepare preliminary and detailed cost estimates.
- Develop and maintain cost plans through concept, schematic, design development, and tender stages.
- Support value engineering exercises to optimize project cost without compromising design, quality, or functionality.
- Review tender documentation and ensure alignment between scope and budget.
Tender & Procurement Management:
- Support procurement strategy and packaging of works.
- Prepare/review BOQs, pricing schedules, and commercial tender documents.
- Manage tendering activities from a cost management perspective.
- Analyze contractor quotations and prepare detailed commercial comparisons.
- Participate in commercial negotiations and provide recommendations for contractor appointment.
Post-Contract Cost Control:
- Monitor project costs, commitments, forecasts, and actual expenditure.
- Review contractor interim payment applications and payment recommendations.
- Track variations, change orders, claims, and potential commercial exposure.
- Maintain the project Cost Report, Cash Flow, Commitment Register, and Change Control Register.
- Prepare monthly cost reports highlighting budget status, forecast cost, and key risks.
Change & Variation Management:
- Establish and manage an effective change control process.
- Review contractor variation submissions and assess entitlement and valuation.
- Monitor design changes and their impact on project cost.
- Provide cost advice before approval of changes.
- Ensure all changes are properly documented and approved.
Commercial & Contract Coordination:
- Coordinate closely with the Contracts Manager, Quantity Surveyors, Project Managers, Planning, Design, and Procurement teams.
- Review contractual/commercial implications of project decisions.
- Support assessment of contractor claims and commercial disputes.
- Provide commercial inputs for EOT and delay-related claims where required.
Forecasting & Reporting:
- Prepare monthly and periodic cost reports for the Client and senior management.
- Monitor actual cost against approved budget and forecast final cost.
- Prepare cash flow projections and expenditure forecasts.
- Highlight cost overruns, potential risks, and opportunities.
- Provide clear recommendations to support Client decision-making.
Value Engineering:
- Lead and coordinate value engineering exercises with the design and project teams.
- Identify alternative materials, construction methodologies, and design solutions to achieve cost savings.
- Evaluate the cost, programme, quality, and lifecycle implications of proposed alternatives.
Final Account & Close-Out:
- Review and agree contractor final accounts.
- Ensure all variations, claims, and commercial matters are closed before project completion.
- Verify final project cost and reconcile against the approved budget.
- Support commercial close-out and final reporting.
Sourced from iimjobs