ILB - T&M_Cost - Zero based costing_SP1

Cost Data Management

Maintain a complete, structured, and accurate database of historical and current cost information.

Ensure cost traceability across project milestones.

Risk & Opportunity Management

Identify, quantify, and track cost‑related risks and opportunities.

Update cost forecasts based on changes in supplier quotations, engineering updates, or commercial conditions.

Supplier Cost Quotation Analysis

Analyze supplier quotations for accuracy, competitiveness, and compliance with technical specifications.

Conduct cost gap analysis in partnership with the Should‑Cost team to benchmark supplier offers against target cost structures.

Design‑to‑Cost (D2C) Initiatives

Lead design‑to‑cost initiatives throughout all development phases.

Collaborate with engineering, purchasing, and cross‑functional teams to drive cost‑optimization and value‑engineering activities.

Cost Tracking & Budget Control

Monitor actual material costs versus budgeted values for both recurring expenses and investment needs.

Identify variances, perform root‑cause analysis, and support corrective action planning.

Cost Target Setting

Define cost targets for components and complete systems in alignment with project, engineering, and purchasing objectives.

Attention to Detail

Ensures cost data, quotations, and reports are precise

Maintains high accuracy in budgets, forecasts, and variance analyses

Catches inconsistencies early to avoid financial or project risk