Project Cost Control Engineer at Onstream Group

Location: Bonny Island, Bonny, Rivers

Job Description
Manage the Cost:

• Management of cost related activities achieved by collecting, analyzing, evaluating, and reporting cost information used for budgeting, estimating, forecasting, and monitoring costs activities which are performed on a baseline of scope, cost, schedule and quality.
• Utilize Company cost management tool (SAP) to provide historical and current cost data as required for managing project costs.
• Participate in budget reviews and yearly project or activity cost phasing and ensure alignment with Financial in Business(FNB) and act as liaison between Project Delivery(PP) to enhance interfaces between financial control and cost control.

Set-up Cost Baseline and Management Framework:

• Issue projects Cost Management requirements for Contractors Invitation To Tender (ITT) e.g. WBS/BoQ formats to ensure control of work scope and associated budget, analysis and reporting by physical hardware or by functional activity, selective and/or hierarchical reporting and exchange of schedule information for an element of work between systems for cost phasing.
• Develop Project Controls Plan aligned with Planning, Finance and Contracting & Procurement processes for major projects where necessary

Implement Cost Control/Management Processes:

• Ensure that projects sanctioned on an initial baseline cost estimate have been converted into the Work Breakdown Structure for cost control by carrying out budget redistribution along the CBS/WBS/OBS in SAP and in line with DRB approval.
• Enforce Staff/Service contract cost recovery for projects (Time Writing).
• Carry out VOWD in line with agreed payment plan and prepare Payment Certificates to enable Contractor invoicing.
• Prepare and conduct cost reviews to support Earned Value analysis consistent with approved control plan. Monitor Appropriation and Budget to proactively report potential under-over runs.

Change and Contingency Management:

• Ensure that all changes made to a project’s baseline cost are identified, evaluated, approved, rejected or deferred.
• Maintain Change logs and ensure changes/trends are reflected in the regular cost forecast updates. Maintain Contingency release process and ensure accurate current status is reflected in project reports.
• Contribute to projects change management process by analyzing trends and potential change impact on project cost, assessing, negotiating and agreeing valuation of variations (change orders) with contractors and advising project management in respect of raising financial commitments and obtaining authorities for variations to achieve proper project cost control and value for money

Project Status Reporting:

• Develop project report contents and formats consistent with plan and in consultation with major project stakeholders to ensure all valid reporting requirements are met. Contribute to and manage the compilation and approval/issue of project cost reports. Develop ad-hoc reports and presentations as required by the project appropriate for the intended audience. Implement process to capture critical project data for historical reporting.
• Develop reporting matrix to monitor Actuals, regular reporting of the Value of Work Done, Commitments and assessment of the cost of work remaining should detect any potential over or under expenditure in good time for proper management action.

Job Requirements
Education :

• B.Sc. in Engineering/Quantity Surveying. Membership of any relevant professional body will be an added advantage.

Experience :

• Minimum of 5-7 years post graduation experience, 4 of which should have been in projects in an oil or gas industry.

Other Requiements:

• Provide cost advice based on sound knowledge and application of contract law / conditions of contract for contractual claims management.
• Implement all assigned project excellence initiatives to address all legacy issues to ensure continuous improvements within the Project Delivery Units.