Job Overview

JOB DESCRIPTION

The Cost Controls Specialist applies their conceptual knowledge of cost management and with limited supervision and guidance, is responsible for cost analysis, development of possible solutions using standard procedures, and critical thinking. The Cost Controls Specialist understands company processes and key business drivers to problem solve using technical experience, judgment, and industry best practices.

Responsibilities

Key Tasks and Responsibilities

Assist in the development and implementation of the project controls execution plan
Assist in project controls system setup and project initiation requirements
Participate in the implementation of the project OBS, WBS, and CBS in required financial and progress systems
Understand and follow McDermott's Cost and Progress procedures
Demonstrate understanding of Earned Value Management principles
Basic knowledge of EPC contracting types (LS, Cost Plus, Reimbursable, Unit Rate, etc.)
Awareness of contract and construction terminology
Assist in Estimate Conforming




Understand the project chart of accounts and its relationship to the estimate and contract scope
Assist in the development and preparation of the forecast system and cost reports
Assist with invoicing and support project accounting with cost to billings reconciliations as required
Understand project trends and their relationship to the forecast (ie PFs, trends, commitments, labor mix, etc.)
Assist change management efforts, including building of cost estimates in support of change verification
Assist in the setup and maintenance of the progress measurement system
Quantity surveying personnel will be required to assist in the effort to audit Issued For Construction (IFC) quantity take-offs and reported installed quantities Any discrepancy in the reported quantities would need to be resolved
Ensure IFC quantity take-offs are tied to turnover systems
Assist with the implementation of the global rules of credit and maintenance of

📌 Cost Controls Specialist (Gurugram)
🏢 McDermott International
📍 Gurugram