Project Cost Controller Job Dammam area,Eastern Province Saudi Arabia,Finance & Banking

Project Cost Analysis and Control

Monitor, analyze, and report on project costs for large-scale EPC projects.
Track costs across engineering, procurement, and construction phases, ensuring alignment with budgets.
Prepare detailed variance reports, analyzing the causes of deviations between budgeted and actual costs.
Validating the Petty Cash and Non-PO Based Expense of Projects, Supplier assessment, advance to suppliers, utilization of credit facility and credit period.

Progress Monitoring and Reporting

Collaborate with project teams to track progress and update percentage-of-completion calculations as per IFRS 15.
Provide insights and reports on cost performance, profit margins, and project cashflow on a regular basis.

Contract and Cost Compliance

Ensure compliance with contractual agreements and project-specific financial regulations.
Validate costs in line with the contract terms and identify any cost overruns or savings opportunities.
Conduct audits to ensure all costs are allocated accurately to their respective projects and phases.

Inventory and Procurement Cost Management

Work with procurement to control and analyze material and service costs.
Ensure proper valuation of inventory used for EPC projects and implement strategies to minimize waste and cost.

Risk Management and Cost Optimization

Identify potential risks related to project costs, including scope changes, delays, or unexpected expenses.
Recommend strategies for cost reduction, such as value engineering or efficiency improvements, manpower management, material management, reducing idle time.

Fixed Assets Management at Project Site

Track, record, and monitor fixed assets (e.g., machinery, equipment) at the project site to ensure proper utilization and maintenance.
Oversee asset capitalization, depreciation calculations, and ensure compliance with relevant accounting standards (e.g., IAS 16 for Property, Plant, and Equipment).
Conduct periodic asset audits and reconcile asset records to ensure accuracy and prevent asset misplacement or misuse.

Financial Reporting and Forecasting

Prepare regular financial and cost reports, analyzing project expenses, and forecasting costs for project budgeting purposes.
Generate monthly, quarterly, and annual reports for COO, Project managers, detailing variances, expected cost overruns, and other key financial metrics.
Collaborate with the finance department to support overall financial reporting.


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