Cost Lead

Location: Aberdeen

Contract Length: 12 Months

BASIC PURPOSE OF THE ROLE

The Cost Lead will support the business in the cost management and reporting of various project activity and provide a key interface role between the client Team and various company subcontractors. The remit of the role be across the estimating, cost control, forecasting, cost analysis, reporting and reconciliation areas of the aforementioned activity and involve close liaison with budget holders, department managers, planning and finance.

KEY RESPONSIBILITIES

• To lead, mentor and develop cost engineers and senior cost engineers reporting into the role.
• Assign monitor and review work of direct reports.
• Understand the relationships between the project controls functions, estimating, planning/scheduling, cost control, and risk management.
• Provide cost control leadership on project teams.
• Advise and counsel in areas of expertise.
• Advise and drive the business in the preparation of AFEs and AFE supplements in a timely manner in accordance with AFE process.
• Responsible for the timely and accurate preparation of VOWD and costs forecasts, for OPEX/CAPEX and ABEX activities within their remit.
• Monthly re-forecasts utilizing estimates, PO commitment report, planning schedules and any other relevant information.
• Work with all stakeholders to ensure appropriate reporting cut offs are maintained.
• Responsible for maintaining and delivering monthly Project Cost Reports for Project and Management in line with Project reporting deadlines including detailed monthly analysis.
• Ensure that all procurement activity is in line with the Procurement Procedure and that requisitions are correctly coded with AFE/WBS/CBS breakdown for cost tracking and monitoring purposes.
• Supports senior management to ensure cost forecasts are available for review at a suitable level for each financial month end close and for all DRB and activity decisions gates.
• Provide support / prepare schedule risk analysis to forecast schedule contingencies and related cost impacts.
• Controls all financial activities related to Project/Well activity, liaising with other departments as appropriate.
• Advises Management of financial and accounting issues and makes recommendations relating to budget and financial control.
• Undertakes analysis and investigation to ensure that the financial ledger reflects the current and accurate status of project/well costs incurred.
• Preparation of correction and reallocation journals as necessary.
• Provide support to projects to meet stage gate criteria, including preparation of cost estimates, attendance at peer reviews, inputs to Investment Memorandum and AFE preparation.
• Challenge the assumptions and information provided by contractors to ensure a detailed understanding of the cost structure and performance by all applicable contractors for reporting within the overall forecast.
• Run scenarios as directed by management to assess options and impacts with respect to costs from changes in scope or execution.

QUALIFICATIONS, EXPERIENCE AND SKILLS

QUALIFICATIONS/TRAINING

• Preferred Engineering, Accounting or Business qualification – HND or higher.
• Completion of appropriate cost control industry training.

EXPERIENCE/KNOWLEDGE/SKILLS

• Essential Experience within the cost control/finance sections of the business.
• Min 10 years’ experience at a cost control level.
• Experience working on major capital projects, within an Oil & Gas operator and with a programme of projects.
• Estimating experience.
• Experience working with primavera and planning function.
• Apply the principles of project controls to cost control work processes.
• Demonstrate effective leadership in the execution of cost control activities.
• Develop and maintain a positive working atmosphere.
• Motivate peers and junior members of the cost team.
• Actively participate in the ongoing development and mentoring of junior members of the cost team.
• Possess excellent verbal and written communication skills.

ADDITIONAL SKILLS/REQUIREMENTS

• Experience in using cost management software such as Oracle, MPower or equivalent.

INTERACTIONS

INTERNAL INTERACTIONS

• Project Engineering Manager, Wells Manager, Project Managers, Project Engineers, Contract Specialists, Corporate Planning, JV Team, Accounts Payable, Cost Engineers and Planners.

EXTERNAL INTERACTIONS

• Contracted companies, Project Managers, Engineers and Cost Engineers.