Cost Control & Cost Estimation

2COMS Consulting Pvt. Ltd.
  • Mumbai
  • 10-13 lakh
  • 5-10 years
  • 12 Oct 2016

  • Project/ Program Management non IT

  • Oil/ Gas/ Petrochemicals / Refinery
Job Description

Understand and apply the Total Cost Management process, through experience, expertise to all capital and operating costs of a project.

Identifying, monitoring and managing key issues and relationships at all phases of the lifecycle;

Demonstrate knowledge of project planning and scheduling, cost estimation and their interaction with cost control activities;

Demonstrate knowledge of Project Accounting including cost accounting, accruals, expenditures, incurred costs,

commitments, cost allocation, capitalisation and depreciation;

Demonstrate knowledge of risk management processes,

opportunities and threats, probability and uncertainty, risk drivers, and risk management planning.

Planning and implementing the project cost controls using strategies, systems, processes, tool and resources.

Applying project cost controls, using cost control methodology that meets Rio Tinto requirements;

Communicating a clear plan for cost controls; eliciting information for stakeholders; communicating with project

teams; ensuring accuracy of messaging, all in alignment with the goals of the project

Applying objective decision making, problem solving and sound judgement to decisions about cost control issues;

Understanding the concept of measuring

project performance and how that relates to accurately forecasting project outcomes;

Ability to liaise with, evaluate the performance of, and

understand and critically review the cost reports prepared by third parties and recommend courses of action;

Understanding contracting types and structure;

ability to develop cost forecast by contract package, including leading and participating in contract review meetings

Ability to Operate Rio Tinto cost control tools

Present the cost control reports in a standard format and be able to describe all aspects.

Understand project value optimisation processes and apply them to cost control processes.

Optimising cost control processes;

Providing accurate cost forecast information to support management decision making;

Maintaining both flexible and rigorous change management

practices in the development and maintenance of project performance reports and forecasts.

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2COMS Consulting Pvt. Ltd.