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Lead Cost Management Engineer
3 months ago
POSITION SUMMARY:
The Senior Cost Control Engineer at Duncan & Ross will play a pivotal role in managing and regulating project expenditures throughout the engineering stages of oil and gas initiatives. This position requires a strategic approach to financial oversight, emphasizing meticulous cost management, expenditure tracking, and delivering insightful financial analyses to the project leadership.
KEY RESPONSIBILITIES:
- Formulate and sustain detailed project cost projections during the engineering phase.
- Oversee the creation and administration of project budgets and financial forecasts.
- Work collaboratively with engineering, procurement, and other departments to ensure accuracy in cost projections.
- Supervise and manage project spending, ensuring compliance with the sanctioned budget.
- Generate and present regular financial reports, including comprehensive variance analyses and future cost predictions.
- Detect and address budget overruns, proposing corrective measures to alleviate financial risks.
- Establish and uphold stringent cost control protocols to ensure fiscal discipline.
- Conduct thorough cost evaluations to uncover trends, inconsistencies, and opportunities for financial enhancement.
- Engage with project managers and stakeholders to confirm cost estimates and spending alignments.
- Review, analyze, and oversee contracts to ensure they meet cost control goals.
- Assess the financial implications of change orders and contract modifications.
- Assist in negotiating and managing adjustments to contracts and claims.
- Identify and assess financial risks associated with engineering projects.
- Develop and execute risk mitigation strategies to manage potential cost impacts.
- Provide expert guidance on risk assessments and contingency planning.
- Collaborate with project teams, including engineers, procurement experts, and financial analysts, to ensure effective cost management.
- Communicate financial insights and recommendations to senior management and other key stakeholders.
- Actively participate in project meetings to provide cost-related insights and updates.
- Stay informed about industry best practices and advancements in cost control methodologies.
- Recommend and implement enhancements to existing cost control processes and tools.
ESSENTIAL QUALIFICATIONS:
- Bachelor's degree in Engineering, Finance, Accounting, or a related discipline. Professional certification (e.g., Certified Cost Engineer) is highly preferred.
- A minimum of 15 years of experience in cost control or financial management within the oil and gas sector, particularly in engineering projects.
- Comprehensive knowledge of cost estimation, budgeting, and financial reporting.
- Proficiency in cost control software and Microsoft Office Suite (Excel, Word, PowerPoint).
- Strong analytical and problem-solving skills.
- Exceptional attention to detail and organizational capabilities.
- Excellent communication and interpersonal skills, with the ability to influence and negotiate effectively.
Remote Work:
No
