Cost Control Engineer

We are looking for an experienced Cost Controller to join our project team. The role will be responsible for ensuring effective cost control across projects by monitoring budgets, actual expenditures, forecasts, cash flow, procurement, manpower, subcontractor costs, and project performance. The ideal candidate will have strong analytical and financial control skills, with experience working closely with Project Managers, Division Managers, Finance, Procurement, Stores, and other stakeholders to identify cost variances, manage project financial performance, and support timely corrective actions.

Purpose

The purpose of a Cost Controller is to ensure the implementation and compliance of standard Cost Control guidelines, procedures, and business directives with respect to project cost controls, while supporting effective financial and operational performance throughout the project lifecycle.

Job Responsibilities

• Review the scope of work, client requirements, division of responsibility, project objectives, and constraints to develop an effective cost control strategy.
• Analyse the existence and effectiveness of internal cost control procedures for project execution and report project financial and operational performance to management.
• Identify cost control gaps, variances, and areas for improvement and recommend appropriate corrective actions.
• Prepare monthly and annual variance analysis comparing budgeted commodities and costs against actual procurement and expenditure.
• Prepare project cost reports and forecasts , ensuring complete and accurate cost booking in the Oracle system by Stores, Timesheet Office, Subcontract Module, and relevant departments.
• Prepare and update project forecasts covering direct and indirect manpower, project schedules, subcontract works, and material procurement .
• Reconcile project material, consumable, and man-hour consumption and highlight monthly overruns against approved unit rates and forecast cost at completion.
• Review project cost reports with the Project Manager and Division Manager to identify changes, cost overruns, and forecast variances before submission to management for approval.
• Prepare and update project cash flow forecasts against project duration and monitor revenue recognition and planned contribution.
• Review, verify, register, and assign appropriate cost codes to purchase orders and maintain accurate records.
• Monitor the cost and quantity of procured items against the approved project budget.
• Maintain accurate project cost records and provide required documentation and information for financial and internal audits .
• Register and control daily project outgoings, assign appropriate cost codes, and prepare reports on actual project costs and quantities incurred .
• Evaluate subcontractor work done against the approved project budget and analyse forecasts to identify potential cost variances.
• Prepare and maintain project cash flow reports and monitor project financial performance.
• Prepare and analyse job costs against direct staff and workforce man-hours utilized.
• Calculate the value of work done and related expenditures , including variances, and forecast future cost trends against the approved budget.
• Reconcile monthly project costs with the Trial Balance to ensure accuracy for management reporting.
• Prepare monthly analysis reports comparing actual project costs against approved/fixed budgets and highlight significant variances.
• Monitor project Cost at Completion (CAC) and provide early warnings regarding potential overruns or adverse cost trends.
• Coordinate with Project, Procurement, Stores, Finance, Timesheet, and Subcontract teams to ensure complete, accurate, and timely cost data .
• Lead, mentor, and guide a team of Cost Controllers in carrying out cost control activities and maintaining project cost discipline.
• Ensure compliance with approved cost control procedures, project requirements, financial policies, and business directives .

Requirements

• Bachelor’s Degree in Mechanical Engineering or Bachelor of Commerce (B.Com) .
• Cost Control / Project Controls certification would be an added advantage.
• 5–10 years of relevant experience in Cost Control / Project Controls.
• Experience in project-based environments, EPC, construction, engineering, oil & gas, or industrial projects is preferred.
• Experience in project forecasting, cost reporting, cash flow, budget monitoring, procurement cost control, subcontractor cost evaluation, and variance analysis is highly desirable.
• Oracle Fusion or equivalent ERP software.
• Strong proficiency in MS Excel / MS Office is preferred.

If you are a commercially aware and analytical professional with strong project cost control experience, we would like to hear from you. Join us and play a key role in ensuring projects remain financially controlled, accurately forecasted, and aligned with approved budgets and business objectives .