Principal Engineer - Cost Control
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Key skills for this role
About the Role
Petrofac seeks a Principal Engineer - Cost Control to manage cost estimation and control for EPC projects in the oil & gas industry. The role involves establishing cost processes, preparing estimates, monitoring budgets, and mentoring junior staff.
Key Skills for This Role
Responsibilities
- Establish process of information flow for each expense head
- Provide assigned project cost estimates including material, manpower, equipment, subcontracts, etc.
- Coordinate with project engineers to clarify queries/discrepancies
- Arrive at Estimate to Complete (ETC) cost for remaining works
- Prepare periodic reports on cost status and budget variances
- Monitor costs and generate variance reports
- Assess potential variations/claims from sub contractors/vendors
- Participate in project review meetings and provide cost data
- Interface with project engineers and Accounts
- Develop historical cost database for future reference
- Provide training and guidance to new/junior Cost Control personnel
Requirements
- Engineering Degree
- Minimum 15 years working experience
- Minimum 5 years in Cost Control function of EPC medium projects
- Preferably last 2 years in Cost Control function in Oil & Gas field
Full Job Posting
About the job
- Petrofac is a leading international service provider to the energy industry.
- We design, build, manage and maintain infrastructure for our clients.
- We support flexible working requests and have adopted a hybrid approach for most office based roles.
Key Responsibilities
- Establish a process of information flow with respect to each expense head.
- Provide assigned project cost estimates including material, manpower and equipment/material costs, subcontracts, third party services, and financial cost.
- Coordinate with the project engineers to clarify any query/discrepancies.
- Arrive at Estimate to Complete (ETC) cost for the remaining works.
- Prepare reports on a periodic basis on the status of the costs incurred and the variations of the budgeted v/s actual.
- Monitor costs and generate variance reports as and when required.
- Carry out assessment of potential variations/claims from sub contractors/vendors.
- Participate in project review meetings, if required and provide any cost related data.
- Interface and provide clarification to the project engineers and Accounts.
- Propose new suggestions and keep improving/updating the process of effective cost control.
- Develop historical Cost database of a project for future reference.
- Provide training and guidance to new/junior Cost Control personnel.
Essential Qualifications And Skills
- Engineering Degree with minimum 15 years working experience out of which minimum five years in the Cost Control function of EPC medium projects, preferably last 2 years in Cost Control function in Oil & Gas field.
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