Main Responsibilities
61 Sets up and maintains the cost control tool (e.g. Ares Prism) and ensures appropriate integration with schedule, progress, risk, trend, and change information in accordance with the requirements of the current project phase and execution model.
61 Prepares the cost breakdown structure (e.g. Prism control accounts and coding structures) in accordance with the scope work breakdown structure (WBS) and contracting strategy for the current phase.
61 Coordinates the cost estimating process in different phases based on different accuracy objective to ensures that the estimate can be aligned with the project execution model. Prepares the Appropriate Request.
61 Establishes budgets for control accounts, purchase orders, contracts and work packages based on the detailed cost estimate. Prepares time-phased costs and contingency run-down in accordance with the schedule and planned progress and corporate financial reporting requirements.
61 Ensure the risk, trend and changes been updated into the cost forecast every month.
61 Updates the cost control tool every month with actuals and commitments from SAP and contractors, performs budget transfers and contingency drawdowns with PM approval, updates time-phased costs, and prepares the cost forecast for PM review and approval.
61 Prepares the project reporting calendar (Covestro and contractor) and provides input to and content for the monthly project report and presentations. Publishes summary and detailed cost reports, identifies variances and root causes, and reviews with PM every month.
61 Supports Covestro accounting and finance processes including annual budgeting and forecasting, portfolio cost reporting, and maintenance of SAP data according to corporate guidelines and policies.
61 Prepares the Project Close-out Report and provides input to lessons learned and cost benchmark data collection. Performs the asset capitalization process, closes contracts, and ensures that SAP WBS elements have the correct final status.
61 Ensures that project budgets are expended in a controlled manner in accordance with accounting and financial regulations
61 Provides timely and accurate project cost forecasts
Qualification Requirements (Education & Work Experience)
61 Bachelor's degree or above in engineering, business administration or other project management-related fields
61 Minimum of five or more (5+) years of cost control experience in the chemical or process industries
61 Past experience on EPC projects greater than 50 million during both engineering and construction phases
61 Expert level of knowledge in all aspects of cost control for chemical or process industry projects
61 In-depth knowledge of EPC project execution and contract models
61 Expert capabilities setting up, maintaining and trouble-shooting cost control software (e.g. Ares Prism)
61 Familiarity with SAP and project accounting practices
61 Good understanding of AACE cost engineering and earned value management practices