At a Glance
- Tasks: Analyse costs and develop solutions to optimise project financials.
- Company: Join a leading EPC firm with a focus on innovation and teamwork.
- Benefits: Competitive salary, career growth opportunities, and supportive work environment.
- Other info: Dynamic team atmosphere with opportunities for professional development.
- Why this job: Make a real impact in cost management while developing your skills.
- Qualifications: Bachelor’s degree and 2-5 years of relevant experience required.
The predicted salary is between 40000 - 50000 £ per year.
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 prioritising 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.
Cost Controls Specialist in London employer: McDermott International, Ltd
At McDermott, we pride ourselves on being an exceptional employer, offering a dynamic work culture that fosters collaboration and innovation. As a Cost Controls Specialist, you will benefit from comprehensive professional development opportunities, a supportive team environment, and the chance to work on impactful projects in the engineering and construction sector. Our commitment to employee growth, coupled with our focus on industry best practices, makes McDermott a rewarding place to advance your career.
Contact Details:
McDermott International, Ltd Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Cost Controls Specialist in London
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We think you need these skills to ace Cost Controls Specialist in London
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