Oil and Gas Project Services

Cost Control Engineer

Published on: 12/12/22

Region:
Europe
Country:
Romania
City:
Ploiesti
Reference:
29918
Apply Now

Cost Control Engineer Job Description

MAIN TASKS

• After contract award, ensure the implementation of the Cost Control System, elaborating the consolidated Cost Breakdown Structure according to the relevant procedure, reviewing the procurement/accounting system adopted in each Operating Companies/Branches involved into the project, and verifying the application of the CBS and the cost traceability.

• Issue the Project Cost Control Procedure, Cost Coding Manual and Risk Management Plan, for the Project Control Manager verification, according to standards and contract specification and configure the Cost Breakdown Structure to monitor procurement and accounting activities

• If not provided during the commercial phase, split the Commercial Budget according to the intercompany scheme, contract and work schedule, in order to report revenues/costs by entity, currencies, and main cost accounts and prepare the cash-flow by currency

• Coordinate the risk management activities startup organizing the first brainstorming and the qualitative / quantitative assessment of the identified risks and opportunities

• Carry out the Montecarlo Analysis During the project execution phase:

• Ensure the Cost Control System works effectively, and cost status is soundly assessed and reported

• Monitor activity progress and the relevant earned value, as well as the value of work done against the invoices received, determining the monthly accruals (to have accounts in line with works progress)

• Support the Project during the contract changes/claims process providing the cost impact analysis, and keep updated the cost/revenues forecast relevant to intercompany services

• Analyse committed costs and activities to-date, review the estimate to complete, isolating any deviation or adverse trend and warn the PM on time to take corrective actions in order to prevent overruns

• Maintain the risk management process organizing periodic meetings and verifying the risk owners feedback

• Issue the project and company reporting at project closure

• Support the Project Control Manager in the preparation of the Project close-out Report and the cost feed-back data to Project Control and Commercial Departments

Requirements

• Knowledge of international and national accounting standards and principles (mainly IAS/IFRS) in order to understand and analyze financial books and records. Knowledge of IFRS 11 and Company rules in order to consolidate operating companies, joint ventures and participations. Capability to identify potential misalignment with policies.

• Capability to manage complete project cost estimation critically analyzing different cost estimate solutions based on external input or elements arising from new contexts, supporting the risk evaluation with cost estimate elements.

• Knowledge of the process of preparing, evaluating, negotiating, and proposing contractual documentation concerning partners, suppliers and customers.

• Knowledge of business process principles (E,P,C,C,F,I). Knowledge of how the different sub-processes is inter-linked.

• Knowledge of WBS CBS implementation process. Knowledge of cost control, planning and document control tools structure and management. Ability to organize and input the WBS PBS structures in P6 according to the best methodology. Capability to draft WBS and PBS in excel upon request. Knowledge of how to apply CBS in executive projects and populate the SAP and PRISM tools.

• Knowledge of cost control techniques. Capability to implement and manage a cost control system for activities/projects. Knowledge of techniques for measuring performance and progress of economic data, and for allowing evaluation of risks. Ability to apply cost control techniques and ability to analyze and control activity/project revenues and costs, and to monitor progress and value of work done. Capability to identify economic issues and propose mitigations in coordination with contract management team(s).

• Knowledge of the overall project change management process, the functions involved, the procedures concerned, MOC tool, and the impacts on project economics.

• Knowledge of the objectives of project control project analysis and reporting, knowledge of the notions of progress status and s-curves, key project indicators or parameters, earned value and productivity.

• Knowledge of the project control scope, activities, tools, roles involved, documents, interfaces and deliverables.

• Knowledge of project control system tools and their integration logics. Knowledge of information management techniques. Capacity to interface with users to collect and address problems.

• Knowledge of applicable standards linked to the project planning processes. Capability to ensure planning, scheduling, development, execution, monitoring, controlling and implementation set-up for Progress Measurement System in accordance with the project complexity. Capability to ensure that any deviation from plan is promptly spotted and analyzed, the final time impact is estimated, and the effect of corrective actions taken is monitored.

• Knowledge of communications, information, and documentation management within a project

• Capability to identify, evaluate, and estimate the level of risk involved in a situation, to compare it against benchmarks or standards and to determine an acceptable level. Capability to maintain a systematic liaison with the Corporate Function ensuring full compliance and application of Corporate Guidelines and Standards.

• Be discreet in managing information and tactful / polite in interpersonal relationships.

• Fully adheres and respects to the Company internal procedures and regulations

• The employee must strictly observe all the internal HSE specific procedures, as well as those issued by the building administration

• Employees tasks are not limited to the ones described above and could be extended as per Employer discretion and depending on the company business even though in full compliance with Romanian labor law and within the sphere of good sense and applicability.