Understand and apply Total Cost Management process, through experience, and knowledge to all capital & 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 addresses client requirements;
Communicating a clear plan for cost controls; eliciting information for stakeholders; communicating with project teams confirming accuracy of messaging, all in alignment with the goals of the project
Applying objective decision making, problem solving and sound judgment 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 cost control tools;
Present the cost control reports in a standard format and be able to describe all aspects. Understand project value optimization processes and apply them to cost control processes.
Optimizing 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.