Cost Control Engineer

Job Summary

The Cost Control Engineer is responsible for monitoring, analyzing, and reporting project costs to ensure effective cost management throughout the project lifecycle. Duties include developing cost control systems, tracking budgets, preparing cost forecasts, analyzing variances, and working closely with project teams to maintain financial control. The role requires strong analytical skills, attention to detail, and a solid understanding of project budgeting, cost reporting, and financial forecasting to support project efficiency and profitability.

Responsibilities

• Develop and implement cost control systems, procedures, and tools to monitor project budgets and expenditures.
• Track, analyze, and report actual project costs against the approved budget, highlighting any variances and recommending corrective actions.
• Collaborate with project manager, planners, and procurement teams to ensure cost-effective planning and resource allocation.
• Prepare periodic cost reports, forecasts, and financial analyses to support project decision-making and maintain budgetary control.
• Review and validate contractor and supplier invoices against project progress and contractual terms.
• Maintain accurate and up-to-date records of project financial data, including budgets, changes, and commitments.
• Support the preparation of estimates and cost plans during project planning stages.
• Ensure compliance with company policies, financial regulations, and contractual obligations throughout the project lifecycle.