Cost Control Engineer

I. Job Overview

The Cost Control Engineer is responsible for managing and controlling the costs associated with the installation works in the PC (Procurement and Construction) phase of petrochemical EPC (Engineering, Procurement, and Construction) projects. This role involves monitoring project expenditures, analyzing cost variances, and implementing cost-saving measures to ensure that the project remains within budget.

II. Key Responsibilities

1. Cost Planning and Budgeting
   • Develop detailed cost estimates and budgets for the installation works based on project scope, design drawings, and specifications.
   • Collaborate with the project team to identify potential cost savings opportunities and incorporate them into the budget.
2. Cost Monitoring and Reporting
   • Track and monitor actual project costs against the approved budget on a regular basis.
   • Prepare and distribute cost reports to the project team and senior management, highlighting cost variances and recommending corrective actions.
3. Cost Analysis and Variance Management
   • Analyze cost variances to determine the root causes and propose solutions to address them.
   • Work with the project team to implement cost control measures and ensure adherence to the budget.
4. Change Management
   • Evaluate the cost impact of project changes and provide recommendations on whether to accept or reject them.
   • Update the project budget to reflect approved changes and ensure that the revised budget is communicated to all relevant parties.
5. Risk Management
   • Identify and assess potential cost risks associated with the project.
   • Develop and implement risk mitigation strategies to minimize the impact of these risks on the project budget.
6. Contract Management
   • Review and analyze contractor submissions related to cost, including change orders, invoices, and payment requests.
   • Negotiate with contractors to ensure that costs are reasonable and within the project budget.
7. Documentation and Record Keeping
   • Maintain accurate and complete cost control documentation, including budgets, cost reports, and change orders.
   • Ensure that all cost-related records comply with company policies and regulatory requirements.

III. Qualifications and Requirements

1. Education: Bachelor's degree in engineering, finance, economics, or a related field.
2. Experience: At least 3 years of experience in cost control or related roles in the petrochemical or construction industry.
3. Technical Skills: Proficiency in cost estimating software, Microsoft Office, and project management tools.
4. Analytical Skills: Strong analytical and problem-solving skills to identify and address cost variances.
5. Communication Skills: Excellent written and verbal communication skills to effectively communicate with the project team and senior management.
6. Certifications: Preferably certified in cost engineering or a related field.