Cost Control Engineer

Job Overview

The Cost Control Engineer plays a pivotal role in planning, tracking, and regulating budget expenditures throughout the entire Engineering, Procurement, and Construction (EPC) project lifecycle. This position ensures that all projects align with approved financial plans and comply with contractual and organizational mandates.

Key Responsibilities

• Establish and update project budgets, establish cost baselines, and implement cost control methodologies.
• Track all project-related expenses, financial commitments, and overall expenditures in relation to approved budgets.
• Analyze deviations in costs and develop forecasts such as Estimate at Completion (EAC).
• Generate routine financial status reports, including cash flow projections and Cost Value Reconciliation (CVR) analyses.
• Apply Earned Value Management (EVM) techniques to evaluate project cost performance rigorously.
• Assess project variations and change orders to accurately incorporate their financial effects within project budgets.
• Collaborate with cross-functional teams, including Project Management, Planning, Procurement, Commercial, and Finance, to ensure robust cost control procedures.
• Guarantee adherence to all contractual conditions, company protocols, and established cost management standards.

Qualifications and Expertise

• A Bachelor’s degree in Civil, Mechanical, Electrical, Industrial Engineering, or a closely related field.
• Additional professional certifications such as PMP or Certified Cost Professional (CCP) are favorable.
• At least 5 to 10 years of progressive experience handling cost control and project controls in EPC projects.
• Demonstrated competence managing cost control across all EPC project phases.
• Experience with large-scale projects in oil and gas, power generation, infrastructure, industrial, or construction sectors.
• Strong practical knowledge in budgeting, cost forecasting, EVM, CVR, cash flow management, and preparing detailed cost reports.
• Familiarity with Primavera P6, SAP or Oracle ERP systems, alongside advanced Microsoft Excel skills for managing project costs.
• Previous work experience with multinational EPC contractors or in global project teams is a plus.

Technical Skills

• In-depth understanding of EPC project lifecycles, project controls, and cost management best practices.
• Expertise using Primavera P6, Microsoft Excel, and ERP platforms such as SAP or Oracle.
• Competency in budgeting, cost forecasting, Earned Value Management, Cost Value Reconciliation, cash flow forecasts, and comprehensive cost reporting methodologies.