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  • Job reference: RMS0148192

Cost Control Engineer

  • Sector: Oil & Gas
  • Location: Baku
  • Job type: Permanent
  • Date posted: 25/09/2014
  • Time left:
    d h m s
    (09/10/14)
This vacancy has now expired.
The Role:
“Only candidates who already have the rights to work in Azerbaijan will be considered for this role”.

Establish and manage effectively a cost control system in order to support the Project Manager's decision-making process and allow him to complete the project within the approved Budget. Ensure any deviation from plan is promptly spotted and analysed, final impact is estimated and the effect of corrective actions taken is monitored. Create a cost awareness atmosphere among all project participants. Satisfy Operating Company and Corporate requirements for the reporting (Budget/Forecasts/ monthly accruals) and, in cooperation with responsible functions, for information required to achieve financial/tax optimisation.

During the initial phase after contract award: ensure the implementation of the Cost Control System; in particular:
- elaborate the consolidated Cost Breakdown Structure on the base of the Commercial Budget, the available feedback from similar projects, the risks profile, the needs to return data to Commercial Department; recast the Commercial Budget in the established CBS and issue of the Control Budget as per internal procedures.
- review the procurement/accounting system adopted in each Operating Companies/Branches participating to the project, to verify the application of the CBS and the proper traceability of costs (from Purchase Requests to accounted invoices).
- identify the number/skill of cost control resources necessary to control the project.
- issue the Project Cost Control Procedure, that explains the consolidated Cost Breakdown Structure (as well as the CBS codes to be used by each Operating Companies participating to the project) , how/by whom the CBS shall be used in the procurement and accounting cycle, lines of communication, responsibilities and information flow required for a timely costs analysis and forecast updating.
- input the Cost Breakdown Structure in IBIS (by entity/Job number) to allow start of procurement / accounting activities.
- if not developed during commercial phase, split the Commercial Budget following the intercompany scheme, to elaborate revenues/costs by entity, by currencies, by main cost accounts; following the contract and the work schedule, to elaborate revenues and costs by month (spread forecast) and, associating the payment terms, elaborate cash-flow by currency.
Ensures, during the execution phase, the Cost Control System works effectively and cost status is soundly assessed and reported; in particular:
- Monitor cost coding system is properly applied and information flow is correct and complete.
- Revise promptly the Control Budget (revenues and costs) with all agreed Changes and the necessary Internal Transfers.
- Monitor, for subcontracts and other significant items, progress and the value of work done against the invoices received, determining the monthly accruals (to have accounts in line with works progress).
-Support the purchasing process for overrun prevention (budget analysis for PO's request before commitment).
- Analyse committed costs and activities to-date (actual vs budget performance and productivity).
- Isolate any adverse trend and warn the PM on time to take corrective actions.
- Review monthly the forecasts to complete, any deviation from baselines and the effect of the corrective actions taken by PM.
- Review with the Risks engineer the risks/opportunities status.
- Issue monthly Cost Report (consolidated) inclusive of details and written comprehensive analysis of performance, trends, deviations and assumptions.
Assist the PCE in the Project Status Report preparation.
Feed the Control Management System as per relevant procedures checking and maintaining a regular matching with Company official forecasts (total project and year portion).
Keep updated the cost/revenues forecast relevant to intercompany services, to allow the updating of the intercompany service agreements.
Require PCE to be promptly informed about all decisions or events impacting revenues and costs in order to timely reflect them in the cost control system. It's recommended anyway that, in addition to the PCE, the Cost Control Engineer too be involved in the internal coordination meetings whenever opportune.
Supports the PCE during the contract changes/claims process providing the cost impact analysis.
Support the PCE for the preparation of the Project close-out Report and the cost feed-back data to Project Control Department and Commercial Department.


• Knowledge of software such as SAP;
• Be fluent in standard software, MS Office;
• Capability to understand a commercial contract in all its parts and to extrapolate all data necessary to better understand the project;
• Capability to proactively define and implement tools, procedures and/or techniques to deal with scope of work changes and to maximize business opportunities;
• Adequate knowledge of techniques for measuring performance, economic data, progress costs and risks;
• Capability to analyse and control activity/project revenues and costs and to monitor progress and value of work done;
• Capability to establish and effectively manage a cost control system in order to support the process of preparing the invoicing back-up needs;
• Capability to define and set-up the invoicing procedure and mechanism;
• Capability to prepare reporting documents according to Company Standards and Project requirements and to check their reliability;
• Capability to predict the performance of a project through the use of forecasting tools and risk and opportunity analysis;
• Knowledge of project planning, scheduling, monitoring and control techniques;
• Capability to staff and manage departmental resources required for an adequate control of activities/projects, coordinating workload, recruitment, training, assignment to project teams, supervision and performance evaluation;
• Good analytical and problem solving skills;
• Good communication and negotiation skills.

Essential Skills / Qualifications:
Education: Financial or economic background.
Work Experience: Must have at least 3 years’ experience in Oil and Gas Industry.
Knowledge of Languages: English (fluent), Azerbaijani (fluent).
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