Cost Controls Specialist

Key Tasks and Responsibilities:

•    Assist in the development and implementation of the Project Controls Execution Plan.
•    Support project controls system setup and project initiation activities.
•    Participate in the implementation of the project OBS, WBS, and CBS within financial, cost, and progress systems.
•    Understand and follow McDermott cost control and progress measurement procedures.
•    Apply basic Earned Value Management (EVM) principles in project performance analysis and reporting.
•    Develop an understanding of EPC contracting methodologies, including Lump Sum, Cost Reimbursable, Unit Rate, and Cost Plus contracts.
•    Maintain awareness of contract terminology and project commercial requirements.
•    Assist in estimate conforming activities and cost baseline development.
•    Understand the project chart of accounts and its relationship to the estimate, budget, and contract scope.
•    Assist in the preparation of cost reports, forecasts, and performance analyses.
•    Support project accounting activities, including invoicing and cost-to-billing reconciliations as required.
•    Assist in monitoring project trends and understanding their impact on project cost forecasts.
•    Support change management activities, including the preparation of cost estimates and supporting documentation for change verification.
•    Assist in the setup and maintenance of project progress measurement systems.
•    Assist in the verification of Issued for Construction (IFC) quantity take-offs and installed quantities to support accurate progress measurement and reporting.
•    Ensure IFC quantity take-offs are aligned with turnover and completion systems.
•    Support the implementation of Rules of Credit and maintenance of project progress measurement systems.
•    Develop spreadsheet-based analysis and reporting tools to support project controls activities.
•    Prepare and provide timely and accurate cost and progress measurement data in accordance with project reporting requirements.
•    Develop a basic understanding of scheduling processes and their relationship to cost and progress performance.
•    Participate in project closeout activities, including data gathering and report preparation.
•    Perform other related duties as assigned.

Essential Qualifications and Education:

•    Bachelor's Degree in Business, Finance, Engineering, Construction Management, or a related discipline.
•    Typically requires 2-5 years of experience in cost control, project controls, project accounting, or related disciplines supporting EPC projects.
•    Basic understanding of Earned Value Management (EVM) principles and project performance measurement.
•    Good analytical, problem-solving, and coordination skills.
•    Demonstrated ability to prioritize multiple assignments and manage deadlines effectively.
•    Demonstrated ability to work collaboratively within multidisciplinary teams.
•    Adaptable and able to work effectively in a dynamic project environment.
•    Familiarity with ERP systems such as JD Edwards is a plus.
•    Proficiency in Microsoft Office applications, particularly Excel.
•    Basic understanding of the relationship between scope, cost, schedule, and project progress.

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