Cost Controls Specialist
Key Skills
Job Description
Job Overview:
The Cost Controls Specialist applies their conceptual knowledge of cost management and with limited supervision and guidance, is responsible for cost analysis, development of possible solutions using standard procedures, and critical thinking. The Cost Controls Specialist understands company processes and key business drivers to problem solve using technical experience, judgment, and industry best practices.
Responsibilities
Key Tasks and Responsibilities:
- Assist in the development and implementation of the project controls execution plan
- Assist in project controls system setup and project initiation requirements
- Participate in the implementation of the project OBS, WBS, and CBS in required financial and progress systems
- Understand and follow McDermott's Cost and Progress procedures
- Demonstrate understanding of Earned Value Management principles
- Basic knowledge of EPC contracting types (LS, Cost Plus, Reimbursable, Unit Rate, etc.)
- Awareness of contract and construction terminology
- Assist in Estimate Conforming
- Understand the project chart of accounts and its relationship to the estimate and contract scope
- Assist in the development and preparation of the forecast system and cost reports
- Assist with invoicing and support project accounting with cost to billings reconciliations as required
- Understand project trends and their relationship to the forecast (ie PFs, trends, commitments, labor mix, etc.)
- Assist change management efforts, including building of cost estimates in support of change verification
- Assist in the setup and maintenance of the progress measurement system
- Quantity surveying personnel will be required to assist in the effort to audit Issued For Construction (IFC) quantity take-offs and reported installed quantities Any discrepancy in the reported quantities would need to be resolved
- Ensure IFC quantity take-offs are tied to turnover systems
- Assist with the implementation of the global rules of credit and maintenance of the progress measurement system on the project
- Ability to generate spreadsheet analysis tools for management review of progress
- Reporting – Provide Timely and accurate Cost and Progress Measurement Data
- Basic understanding of Scheduling Software and processes and their relationship to cost and progress
- Participate in Closeout Report data collection
- Support the professional development and growth of junior project controls personnel
Qualifications
Essential Qualifications and Education:
- Bachelor’s degree in Business, Finance, Engineering, Construction Management, or related fields or
- 2 - 5 years of relevant experience working for an EPC
- Must know about earned value systems
- Problem-solving Attitude and high level of coordination skills
- Demonstrated effectiveness in prioritizing multiple tasks and managing efforts to meet deadlines
- Demonstrated effectiveness in working with others in a multifunctional team
- Accepts change and works well under pressure
- Understanding of JDE Edwards is not required but would be a plus
- Knowledge of common business tools such as Microsoft Office applications
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Lutech Resources has over 25 years’ experience providing tailor made recruitment and integrated resource management to leading Engineering, Energy and Manufacturing sector companies worldwide. We set ourselves apart from others in the industry by building long term relationships with both our clients and candidates based on a mutual understanding of their targeted industry and a passion for excellence. With every engagement, our goal is to quickly place qualified talent with the best suited employer. We have a genuine understanding of candidates and clients’ needs. Along with a dynamic and effective service, we strive for positive outcomes for everyone, every time.
Core Responsibilities
The Cost Controls Specialist is responsible for performing cost analysis, developing project forecasts, and maintaining progress measurement systems. They also assist in change management efforts and ensure accurate reporting of project cost and progress data.
Requirements
Candidates must hold a bachelor's degree in a relevant field or possess 2-5 years of experience in an EPC environment. Proficiency in earned value management principles and strong problem-solving skills are required.
About Lutech Resources
Industry: Staffing and Recruiting
Company size: 201-500 employees
Lutech Resources is a global recruitment business, providing a complete and integrated scope of resource management for a wide range of leading companies within the energy sector. We advance people’s careers and enable continued growth for industries both upstream (oil & gas exploration and production, Mining, LNG) and downstream (petrochemicals and refineries). Organizations we serve require top talent, by helping them find the right managers, contractors, engineers, project managers and other high-level professionals, we play a vital role within the industry and in the careers of many. With principal locations in the United Kingdom, Netherlands, Philippines and United States, we specialize in the provision of multi-discipline engineering, project management and technical field staff. We have expanded our expertise to include power and automation, energy, utility, and manufacturing industries. From the UK and across Europe, throughout the Americas and Canada as well as the Middle East, Asia and Australia, we are active in servicing project sites across the globe. Whatever your project needs, large-small, Lutech Resources has talent, experience to support you. Here at Lutech Resources we support our talent. With our rich history, background, vast resources, and access to a wide range of strategic positions with industry leaders we can effectively serve our clients. With an extensive and growing international community of qualified specialists you will enjoy the support and stability of an experienced company that truly values its team members.