Cost Controls Specialist

Job Overview

Job Overview: The Cost Controls Specialist applies conceptual knowledge of cost management and, with limited supervision, is responsible for cost analysis, developing solutions using standard procedures, and critical thinking. The Specialist understands company processes and key business drivers to problem‑solve using technical experience, judgment, and industry best practices.

Responsibilities

• Assist in the development and implementation of the project controls execution plan
• Assist in project controls system setup and project initiation requirements
• Participate in the implementation of the project OBS, WBS, and CBS in required financial and progress systems
• Understand and follow McDermott's Cost and Progress procedures
• Demonstrate understanding of Earned Value Management principles
• Basic knowledge of EPC contracting types (LS, Cost Plus, Reimbursable, Unit Rate, etc.)
• Awareness of contract and construction terminology
• Assist in Estimate Conforming
• Understand the project chart of accounts and its relationship to the estimate and contract scope
• Assist in the development and preparation of the forecast system and cost reports
• Assist with invoicing and support project accounting with cost-to‑billings reconciliations as required
• Understand project trends and their relationship to the forecast (e.g., PFs, trends, commitments, labor mix, etc.)
• Assist change management efforts, including building cost estimates in support of change verification
• Assist in the setup and maintenance of the progress measurement system
• Quantity surveying personnel will be required to assist in auditing IFC quantity take‑offs and reported installed quantities; discrepancies must be resolved
• Ensure IFC quantity take‑offs are tied to turnover systems
• Assist with the implementation of global rules of credit and maintenance of the progress measurement system on the project
• Generate spreadsheet analysis tools for management review of progress
• Report timely and accurate cost and progress measurement data
• Basic understanding of scheduling software and processes and their relationship to cost and progress
• Participate in close‑out report data collection
• Support the professional development and growth of junior project controls personnel

Qualifications

• Bachelor’s degree in Business, Finance, Engineering, Construction Management, or related fields
• 2–5 years of relevant experience working for an EPC
• Must know about earned value systems
• Problem‑solving attitude and high level of coordination skills
• Demonstrated effectiveness in prioritizing multiple tasks and managing efforts to meet deadlines
• Demonstrated effectiveness in working with others in a multifunctional team
• Accepts change and works well under pressure
• Understanding of JDE Edwards not required but would be a plus
• Knowledge of common business tools such as Microsoft Office applications