Cost Control Lead
Job Purpose
The Cost Control Lead is responsible for providing executive level professional advice and guidance in strategic allocation, planning, funding governance, and macro level stewardship of project costs and expenditures throughout all phases of the project.
The role is accountable for developing, endorsing, and maintaining project controls governance frameworks, funding approval guidelines, and high level reporting procedures to ensure full visibility of project cost performance, cost efficiency, and budget baseline protection.
Job Context and Major Challenges
The Project is a highly visible and fast tracked brownfield asset restoration initiative operating under significant schedule and budget pressures.
The project employs a complex commercial structure consisting of:
- Phase 1 – Hourly Reimbursable / Time & Resources (T&R) Contracts
- Phase 2 – Fixed Price EPC Contracts
Due to continuous field execution activities required to meet demanding project deadlines, a substantial volume of project and cost data is generated daily. This information must be monitored, validated, analyzed, and reported in real time to safeguard shareholder funding and maintain financial integrity throughout project execution.
The role requires:
- Management of complex multimillion dollar budget models
- Continuous monitoring of project expenditure
- Maintenance of detailed cost logs
- Daily trend analysis and forecasting
- Identification of budget risks and potential cost overruns
- Delivery of accurate and timely project financial reporting
Major Challenges
- Functioning within a dynamic project environment characterized by high visibility, significant capital expenditure, and aggressive execution schedules.
- Consistently delivering accurate performance across safety, quality, cost, and schedule objectives.
- Demonstrating flexibility, initiative, multitasking capability, and sound commercial judgment in response to evolving project requirements.
Key Job Accountabilities
Cost Data Integrity and Reporting
- Ensure cost data integrity, labor verification, and financial status reporting across all assigned Time & Resources and Lump Sum EPC contract packages, ensuring actual labor hours, equipment utilization, and fixed price expenditures are accurately compiled and reported to provide project management with full visibility of cost efficiency and performance.
Cost Control Leadership and Standardization
Provide expert guidance to Project Cost Engineers across both T&R and EPC packages, ensuring a standardized project controls approach regarding:
- Daily headcount monitoring
- Actual manhour tracking
- Value of Work Done (VOWD) reporting
- Trend and contingency management
- Expenditure allocation
Funding Package Development and Budget Governance
Support the Business Division Manager by leading financial, resource, and budgetary inputs into project funding packages, including:
- Advance Commitments
- Full Funding Packages
- Supplementary Funding Requests
- Recommend strategic budget reallocations to ensure Project Cost at Completion remains aligned with approved funding limits throughout all project phases.
Forecasting and Budget Planning
Lead the development of:
- Forecast cost estimates
- Annual Work Program & Budget (WP&B)
- Ensure forecasts accurately reflect:
- Approved project scope
- Progress achieved
- Remaining scope to completion
- Project funding requirements
Work Breakdown Structure (WBS) and Cost Breakdown Structure (CBS) Management
Develop and maintain project WBS and CBS frameworks to ensure effective segregation, tracking, and control of:
- Hourly reimbursable expenditures
- Fixedprice EPC milestone costs
- across the entire project lifecycle.
Contractor Cost and Productivity Assurance
Execute rigorous monitoring, verification, and auditing of:
- Contractor deliverables
- Timesheets
- Progress claims
- Value of Work Done (VOWD) submissions
- Track FEED and EPC cost performance while evaluating contractor productivity through Earned Value Analysis by comparing actual hours expended against physical progress achieved.
Cost Risk Identification and Recovery Planning
Advise the Head of Project Controls and Project Leadership Team immediately of:
- Adverse resource burn rates
- Operational inefficiencies
- Potential cost issues
- Budget overruns
Develop and implement timely corrective actions including:
- Cost recovery plans
- Labor optimization strategies
- Cost mitigation initiatives to reduce project financial exposure.
Change Impact and Cost Stewardship
Steward project commitments, trends, and budget allocations while evaluating the financial impact of:
- Proposed variations
- Labor rate adjustments
- Extended overtime requirements
- Ensure all proposed changes are commercially justified before progressing through formal approval workflows.
Tracking System Management
Implement and manage robust internal cost and resource tracking solutions that:
- Validate contractor time writing information
- Cross reference labor data with independent site metrics
- Verify gate access and attendance records
- Maintain the accuracy and integrity of project cost reporting
Commercial and Tender Support
Provide financial and cost estimation support during pre award tender phases, including:
- Evaluation of contractor commercial rate structures
- Labor cost benchmarking
- Market comparison analysis
- Financial sensitivity assessments
- Support procurement and commercial evaluation committees during contractor bid assessments.
Minimum Qualifications
Education: Bachelor’s Degree in one of the following disciplines:
Business, Accounting, Commercial Studies, Marketing, Sciences, Engineering, Project Management, Supply Chain Management, Law, Communications, Technology, Mathematics, Statistics, or a related discipline from a recognised institution.
Minimum Experience Requirements
Professional Experience
- Minimum eight (8) years of experience in a relevant business related function or discipline.
- Minimum four (4) years of experience within the Oil & Gas industry.
- Minimum one (1) year experience in a supervisory, acting supervisory, or contractor oversight role.
Industry Experience
Experience working with:
- Oil & Gas Operating Companies
- EPC Contractors
- Subcontractors
- Vendors
- Service Providers within the Oil & Gas sector
Functional Knowledge
Demonstrated knowledge and experience across a broad range of project related business disciplines, including planning, scheduling, cost control, estimating, claims management, risk management, change management, procurement, pre award and post award contract management, reporting and performance analysis, support services, and lessons learned processes, with the ability to apply these disciplines effectively throughout the project lifecycle to support successful project delivery and business objectives.
Major Project Experience
Previous experience is required in:
- Major capital projects from the Owner’s perspective
- EPC Lump Sum Contract environments
- Multicultural and multilingual project teams
- Large local subcontractor management
- Development and mentoring of junior staff and developees
Preferred Experience
- Knowledge of LNG practices, processes, and expectations relating to cost control.
- Experience with ERP and project management systems such as SAP or equivalent Oil & Gas ERP platforms.