Cost Control Engineer – EPC Project

Overview

This position entails managing and overseeing project costs, budgets, commitments, expenditures, forecasts, and financial performance during the lifecycle of an EPC project. The engineer will deliver precise cost information and identify risks of possible overruns early to support project success.

Key Responsibilities

• Track the project budget, actual expenses, commitments, accruals, and forecast in comparison to the approved cost baseline.
• Generate weekly and monthly reports analyzing cost variances.
• Develop and update Estimate to Complete (ETC) and Estimate at Completion (EAC).
• Evaluate cost performance metrics including Earned Value Management (EVM), Cost Performance Index (CPI), Schedule Performance Index (SPI), Cost Variance (CV), and Schedule Variance (SV).
• Work alongside planning teams to synchronize cost and progress data accurately.
• Maintain the Cost Breakdown Structure (CBS) and appropriate cost coding standards.
• Oversee Purchase Orders, subcontracts, commitments, and invoices to ensure correct tracking.
• Prepare monthly accruals, and reconcile costs in cooperation with the Finance department.
• Monitor variations, change orders, and their financial impact on the project.
• Identify trends, risks, and areas threatening budget adherence, issuing early warnings when necessary.
• Assist in project cash flow forecasting and management reporting activities.
• Coordinate efforts among Engineering, Procurement, Construction, Contracts, Commercial, Planning, and Finance teams.
• Contribute to project close-out procedures including final cost reporting.

Qualifications and Skills

• A bachelor's degree in Engineering, Quantity Surveying, Finance, Accounting, or a related field.
• Between four to six years of professional experience in Cost Control or Project Controls.
• Preferred exposure to EPC projects within Oil & Gas, Petrochemical, Power Plant, or Industrial sectors.
• Sound understanding of EPC cost control practices including EVM, CPI/SPI, ETC/EAC, managing commitments, accruals and forecasting.
• Proficient with Microsoft Excel.
• Keen advantage if familiar with Primavera P6, SAP, Oracle, EcoSys, Power BI, or comparable project control and reporting software.
• Strong capabilities in data analysis, reporting, effective communication, and cross-functional coordination.