Cost Control Engineer / Cost Controller – Job Description
Job Title: Cost Control Engineer / Cost Controller
Job Summary
The Cost Controller is responsible for monitoring, analyzing, and managing project or operational costs to ensure budgets are maintained and financial efficiency is achieved. The role involves tracking expenditures, forecasting costs, identifying variances, and supporting management with accurate financial and cost-related insights.
Key Responsibilities
- Develop, monitor, and maintain project or operational budgets.
- Track actual costs against planned budgets and identify variances.
- Prepare cost reports, forecasts, and financial performance analysis.
- Monitor commitments, purchase orders, invoices, and expenditures.
- Coordinate with procurement, finance, project, and site teams for cost tracking.
- Implement cost control procedures and financial monitoring systems.
- Analyze cost overruns and recommend corrective actions.
- Support cash flow forecasting and financial planning activities.
- Review contractor and vendor billing for accuracy and compliance.
- Assist in preparation of monthly and progress billing reports.
- Maintain cost databases, records, and documentation.
- Support project managers with cost-related decision-making insights.
- Identify opportunities for cost savings and efficiency improvements.
Required Skills
- Strong knowledge of cost control, budgeting, and financial analysis.
- Proficiency in MS Excel and cost management tools/software.
- Understanding of project accounting and financial reporting.
- Analytical thinking and problem-solving abilities.
- Knowledge of ERP systems (SAP, Oracle, or similar) is an advantage.
- Strong attention to detail and accuracy.
- Good communication and coordination skills.
- Ability to manage multiple budgets and cost centers.
Qualifications
- Bachelor’s degree in Engineering, Finance, Accounting, or related field.
- 2–8+ years of experience in cost control or project finance roles.
- Experience in construction, engineering, manufacturing, or industrial sectors is preferred.
- Certification in cost management or finance is an advantage.
Resume-Friendly Experience Description
Managed cost control activities including budget preparation, cost tracking, variance analysis, and forecasting. Monitored project expenditures, reviewed invoices and commitments, coordinated with project and finance teams, and ensured effective cost management and financial control.
Key Performance Indicators (KPIs)
- Budget variance accuracy and control.
- Cost savings achieved.
- Accuracy of cost forecasts and reports.
- Timeliness of financial reporting.
- Reduction in cost overruns.
- Compliance with financial and project control procedures.
