Lead Cost Engineer

The Lead Cost Engineer is responsible for overseeing all cost control activities within the Project, ensuring compliance with company Finance & Cost Control standards. This includes budget preparation, cost reporting, invoice processing, and coordination across multiple EPIC packages.

Key Responsibilities

1. Budget Management

• Prepare and review detailed LOP and LBRP data.
• Develop annual budgets and updates in coordination with internal stakeholders, aligned with company finance formats.
• Monitor budget availability and control commitments.
• Analyze budget performance, identify trends, and justify variances.
• Maintain registers for commitments, expenditures, and forecasts.
• Provide input to SAP (PALM) system for commitments, invoicing, and cost control.
• Ensure fair allocation of G&A and common costs in collaboration with company Finance.

1. Cost Control & Reporting

• Lead cost control activities with support from package cost controllers.
• Issue monthly internal and external cost reports, including trend analysis, budget variances, and forecasts.
• Maintain auditable records of expenditures, contracts, budgets, and forecasts.
• Interface with company Finance for corporate financial reporting.
• Supervise EPC contractors’ cost control reporting.

1. Invoice Management

• Implement efficient invoicing processes across project locations.
• Monitor invoice processing and ensure timely payments.
• Standardize cost control activities across packages.
• Advise contractors on commercial requirements post-award.
• Anticipate additional cost control needs during project execution.

1. Project Closure

• Ensure accurate monthly closures and accruals in SAP.
• Prepare documentation for compliance and financial closure.
• Archive financial records per company guidelines.

1. General Duties

• Promote cost awareness and confidentiality.
• Liaise with internal/external auditors for cost justification.
• Prepare documentation for project cost recovery.
• Support commercial close-out of contracts.
• Perform additional tasks as assigned by management.