Objective
To support project teams by monitoring costs at the pre-commitment and post-commitment stages, ensuring expenditures are aligned with approved budgets, identifying cost variances early, and supporting effective cost control and reporting.
Key Responsibilities
Cost Monitoring & Budget Control
- Review Purchase Requisitions (PRs) and Purchase Orders (POs) against approved project budgets and cost codes prior to commitment.
- Check that proposed costs are within approved budget limits and highlight potential overruns or abnormal pricing.
- Monitor committed costs versus budget, including tracking PRs, POs, and variations.
- Identify cost trends, repeated cost increases, or unusual pricing compared to historical data or previous hull/projects.
- Support price comparison by reviewing quotations, technical/commercial evaluations, and cost breakdowns submitted by Procurement team.
- Assist in verifying cost reasonableness for change orders, repeat orders, or scope variations.
- Work with procurement, project and commercial teams to obtain justifications for cost increases or budget deviations.
- Support reconciliation of committed cost versus actual cost where required.
- Prepare cost summaries, variance reports, and simple dashboards and potential cost impacts.
- Ensure cost-related documentation (approved budgets, justifications, approvals) is properly filed and traceable.
Required Skills & Competencies
- Understand project cost control, budgeting, and procurement processes.
- Strong analytical skills with attention to detail in cost comparison and variance analysis.
- Ability to work with numbers, spreadsheets, and cost data accurately.
- Good communication skills to coordinate with project, procurement, and finance teams.
- Familiarity with ERP systems (e.g. Workday, SAP, Navision) and Excel is essential.
- Organised, systematic, and able to manage multiple cost items and projects concurrently.
