Cost Control Engineer / Cost Controller – Job Description
Job Title: Cost Control Engineer / Cost Controller
Department: Project Controls / Finance / Projects
Reports To: Project Controls Manager / Project Manager / Commercial Manager
Job Summary
A Cost Control Engineer is responsible for planning, monitoring, analyzing, and controlling project costs throughout the project lifecycle. The role ensures that projects are executed within approved budgets by tracking expenditures, forecasting costs, analyzing variances, and supporting financial decision-making in EPC, construction, and industrial projects.
Key Responsibilities
Budgeting & Cost Planning
- Develop and maintain project budgets in coordination with engineering, procurement, and construction teams.
- Prepare cost breakdown structures (CBS) aligned with Work Breakdown Structure (WBS).
- Support estimation and baseline cost development for projects.
- Ensure budgets are aligned with project scope and contractual requirements.
Cost Monitoring & Control
- Track actual project expenditures against approved budgets.
- Monitor commitments, invoices, and purchase orders.
- Identify cost overruns, variances, and deviations.
- Implement corrective actions to control project spending.
Cost Forecasting
- Prepare cost forecasts and Estimate at Completion (EAC).
- Analyze trends and predict future cost performance.
- Support cash flow forecasting and financial planning.
- Provide early warning for potential budget risks.
Variance Analysis & Reporting
- Perform detailed cost variance analysis (planned vs actual vs forecast).
- Prepare monthly cost reports and dashboards.
- Analyze Cost Performance Index (CPI) and Earned Value metrics.
- Present financial insights to project management.
Procurement & Contract Support
- Monitor procurement expenditures and supplier payments.
- Support contract administration and change order evaluation.
- Review vendor invoices and ensure cost accuracy.
- Assist in claims evaluation and commercial negotiations.
Change Management
- Evaluate cost impact of scope changes and variations.
- Maintain change logs and cost impact registers.
- Support approval process for variations and amendments.
- Ensure proper documentation of all cost-related changes.
Project Coordination
- Work closely with project managers, planners, procurement, and finance teams.
- Ensure alignment between project execution and financial objectives.
- Participate in project review and progress meetings.
- Provide cost input for decision-making and strategy.
Documentation & Compliance
- Maintain cost databases, records, and reports.
- Ensure compliance with company policies and contract requirements.
- Support internal and external audits.
- Maintain transparency in cost tracking and reporting.
Required Qualifications
- Bachelor’s Degree in Engineering, Finance, Accounting, Quantity Surveying, or related field.
- 3–10+ years of experience in cost control, project controls, or commercial roles.
- Experience in EPC, construction, oil & gas, infrastructure, or industrial projects preferred.
- Knowledge of project cost management tools and systems.
Technical Skills
- Cost Estimation & Budgeting
- Cost Tracking & Forecasting
- Earned Value Management (EVM)
- Variance Analysis
- Cash Flow Management
- Contract & Change Control
- Financial Reporting
- Project Cost Structuring (CBS/WBS)
Tools & Software Knowledge
- Excel
- SAP
- Primavera P6
- Power BI
- Oracle Primavera Unifier
- ERP systems
Key Skills
- Analytical Thinking
- Financial Acumen
- Attention to Detail
- Communication & Reporting
- Problem Solving
- Time Management
- Decision Making
- Coordination Skills
Key Performance Indicators (KPIs)
- Budget accuracy and adherence
- Cost variance reduction
- Forecast accuracy (EAC reliability)
- Timely submission of cost reports
- Reduction in cost overruns
- Efficiency in change order processing
- Financial compliance and audit results
Resume Keywords
Cost Control, Cost Engineer, Budgeting, Forecasting, EVM, CPI, SPI, Variance Analysis, CBS, WBS, Project Cost Management, SAP, Primavera P6, Financial Reporting, EPC Projects, Construction Cost Control, Change Management.
Industries Hiring Cost Control Professionals
- Construction & Infrastructure
- Oil & Gas / EPC Projects
- Power & Energy
- Petrochemical Industry
- Manufacturing
- Railways & Transportation Projects
- Water & Utilities Projects
- Industrial Plant Projects
