Cost Controls Specialist
edsv.fa.us2.oraclecloud.com/CX · Houston, Texas, United States
We are currently exploring potential candidates for an upcoming role at McDermott. While this position is not yet open for active recruitment, we want to connect with talented individuals who may be interested in future projects with us. If you are passionate about building energy's future and want to be considered when this role becomes available, we encourage you to submit your details.
Job Overview:
The Cost Controls Specialist applies their knowledge of cost management principles to support cost analysis, forecasting, reporting, and performance measurement activities. Working under general supervision, they assist in identifying and resolving routine project cost issues while developing practical experience through the application of company procedures, technical knowledge, and industry best practices.
Key Tasks and Responsibilities:
• Assist in the development and implementation of the Project Controls Execution Plan.
• Support project controls system setup and project initiation activities.
• Participate in the implementation of the project OBS, WBS, and CBS within financial, cost, and progress systems.
• Understand and follow McDermott cost control and progress measurement procedures.
• Apply basic Earned Value Management (EVM) principles in project performance analysis and reporting.
• Develop an understanding of EPC contracting methodologies, including Lump Sum, Cost Reimbursable, Unit Rate, and Cost Plus contracts.
• Maintain awareness of contract terminology and project commercial requirements.
• Assist in estimate conforming activities and cost baseline development.
• Understand the project chart of accounts and its relationship to the estimate, budget, and contract scope.
• Assist in the preparation of cost reports, forecasts, and performance analyses.
• Support project accounting activities, including invoicing and cost-to-billing reconciliations as required.
• Assist in monitoring project trends and understanding their impact on project cost forecasts.
• Support change management activities, including the preparation of cost estimates and supporting documentation for change verification.
• Assist in the setup and maintenance of project progress measurement systems.
• Assist in the verification of Issued for Construction (IFC) quantity take-offs and installed quantities to support accurate progress measurement and reporting.
• Ensure IFC quantity take-offs are aligned with turnover and completion systems.
• Support the implementation of Rules of Credit and maintenance of project progress measurement systems.
• Develop spreadsheet-based analysis and reporting tools to support project controls activities.
• Prepare and provide timely and accurate cost and progress measurement data in accordance with project reporting requirements.
• Develop a basic understanding of scheduling processes and their relationship to cost and progress performance.
• Participate in project closeout activities, including data gathering and report preparation.
• Perform other related duties as assigned.
Essential Qualifications and Education:
• Bachelor's Degree in Business, Finance, Engineering, Construction Management, or a related discipline.
• Typically requires 2-5 years of experience in cost control, project controls, project accounting, or related disciplines supporting EPC projects.
• Basic understanding of Earned Value Management (EVM) principles and project performance measurement.
• Good analytical, problem-solving, and coordination skills.
• Demonstrated ability to prioritize multiple assignments and manage deadlines effectively.
• Demonstrated ability to work collaboratively within multidisciplinary teams.
• Adaptable and able to work effectively in a dynamic project environment.
• Familiarity with ERP systems such as JD Edwards is a plus.
• Proficiency in Microsoft Office applications, particularly Excel.
• Basic understanding of the relationship between scope, cost, schedule, and project progress.
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