Cost Management: Develop and implement a comprehensive cost management strategy for projects, including cost tracking, forecasting, and cost reduction plans. Conduct cost analysis and cost trending to identify variations between budgeted and actual costs. Analyze historical project data to develop cost trends and benchmarks for current and future projects.
Change Management: Develop, implement and manage the Project Change Management program in a multi-interface fast tracked mega project. This includes internal and external change management (cost & schedule). Evaluate and quantify the impact of project changes, including scope changes, variations, and contract amendments. Assess the cost implications of change orders and negotiate with contractors or suppliers when necessary.
Budgeting and Forecasting: Lead the budgeting process and provide regular forecasts of project costs to ensure alignment with financial goals. Develop and maintain cost forecasts for ongoing projects. Utilize cost data and trends to predict potential cost overruns or savings and provide recommendations for mitigation. Collaborate with project managers to ensure that cost controls are in place and budgets are adhVariance Analysis: Monitor actual costs against budgets and analyze variances, providing recommendations for corrective actions as needed.
Performance Metrics & Reporting: Define and track key performance indicators (KPIs) related to cost management and provide regular reports to senior management. Develop, implement and manage a cost management reporting plan (include weekly and monthly reporting/ presentations). Communicate cost trends and potential issues to project teams and senior management.
Compliance: Ensure compliance with financial regulations and industry standards in cost reporting and management.
Leadership: Provide leadership and mentorship to the Execution team to foster a culture of cost-consciousness and continuous improvement
Continuous Improvement: Stay up-to-date with industry best practices and emerging cost management technologies to drive ongoing process improvement. Implement cost control best practices and seek opportunities for process improvements.
Qualifications:
Bachelor's degree in Business, Data Analytics, Project Management, Construction Management, or relevant mega project experience
Extensive experience (minimum of 5 years and typically 10+ years) in cost management, budgeting, and financial analysis, with a significant portion of that experience in the complex industrial process industry.
Strong knowledge cost management processes and cost structures at EPC project.
Proficiency in financial modeling and cost analysis tools.
