Job Purpose
The Project Control Engineer is responsible for managing and monitoring project costs, budgets, forecasts, and financial performance to help ensure projects remain within approved budgets and financial guidelines. The role works closely with project, finance, and other stakeholders to maintain accurate cost information, identify financial risks, and support effective project decision-making.
Key Responsibilities
Project Cost Estimation and Budgeting
- Develop detailed project cost structures and budget breakdowns in SAP to support effective cost-control procedures.
- Review project requirements and prepare detailed estimates to complete.
- Analyze project budgets, revisions, actual costs, planned progress, and actual progress in coordination with the Finance Department.
- Reconcile budget revisions and cost information to improve the accuracy of project financial data.
- Support project teams with cost analysis and financial information required for project planning and control.
Project Cost Monitoring and Control
- Monitor and track project expenditures against approved budgets and forecasts.
- Analyze cost performance and identify potential budget deviations or cost overruns at an early stage.
- Provide timely updates on significant cost variances and financial risks.
- Use forecasting and cost-control tools to anticipate future project expenditures.
- Support the development and implementation of cost optimization measures to improve project profitability.
- Monitor resource utilization and project spending against approved plans.
Forecasting and Financial Reporting
- Develop and maintain detailed project cash-flow forecasts throughout the project lifecycle.
- Prepare cost forecasts using project trends, actual expenditure, commitments, and planned activities.
- Analyze project cost reports and provide relevant financial information to project stakeholders.
- Establish appropriate daily, weekly, or monthly reporting schedules based on project requirements and critical deliverables.
- Highlight significant variances and provide supporting analysis for management review.
Dashboards and Project Reporting
- Coordinate with relevant departments to ensure project dashboard information is accurate and up to date.
- Support the development and improvement of project cost and performance dashboards.
- Consolidate project information for management reports and presentations.
- Ensure project control data is consistent across relevant reporting systems.
General Responsibilities
Delivery and Performance
- Complete planned activities according to project schedules and organizational targets.
- Use resources efficiently to achieve project objectives within approved cost and time requirements.
- Prepare periodic reports covering completed activities, progress, deviations, and corrective actions.
Problem Solving
- Identify project cost and control issues and work with relevant teams to develop solutions.
- Escalate complex financial, operational, or project-control issues to the appropriate management level.
Quality
- Follow established quality requirements, project-control procedures, and applicable specifications.
- Maintain accurate project cost, budget, forecasting, and reporting information.
Business Process Improvement
- Follow documented systems, policies, procedures, and work instructions.
- Identify opportunities for automation and process improvements in project cost control, reporting, forecasting, and data management.
Compliance
- Comply with applicable company policies, procedures, financial controls, and work instructions.
Health, Safety and Environment
- Follow applicable health, safety, quality, and environmental management procedures and controls.
- Support project activities in accordance with relevant safety and regulatory requirements.
Educational Qualification
- Bachelor’s degree in Electrical Engineering.
Work Experience
- 4 to 6 years of relevant professional experience in project controls, cost control, project management, engineering, or a related field.
- Experience with project cost estimation, budgeting, forecasting, financial reporting, and SAP-based cost management is beneficial.
Technical and Functional Skills
- Project Cost Control
- Project Cost Estimation
- Budgeting and Forecasting
- Project Cash Flow Management
- Cost Variance Analysis
- Financial Reporting
- SAP
- Project Management
- Resource Management
- Research and Data Analysis
- Microsoft Office
- Dashboard Reporting
- Time Management
- Risk and Cost Analysis
- Presentation Skills
- Negotiation
- Customer Service Orientation
Professional Skills
- Strong communication and teamwork
- Leadership and delegation
- Accountability and ownership
- Results-oriented approach
- Initiative and creativity
- Strong organizational skills
- Ability to work under pressure
- Attention to detail
- Effective problem-solving and decision-making