Role & responsibilities

Key Responsibilities

1. Project Costing & Budgeting

- Develop detailed project cost estimates and project-wise cost budgets.
- Prepare project cost sheets covering material, labour, subcontracting, engineering, procurement, logistics, overheads and other project costs.
- Establish cost baselines and monitor actual expenditure against approved budgets.
- Review project cost assumptions and identify potential cost overruns at an early stage.
- Support project teams in preparing financial feasibility and cost-benefit analysis.

2. Project Cost Control

- Take end-to-end ownership of project cost control from project initiation to completion.
- Monitor project-wise actual costs against budget, commitments and revised estimates.
- Track material consumption, procurement costs, labour costs, subcontracting expenses and project overheads.
- Identify cost leakages, inefficiencies and areas for cost optimisation.
- Establish effective cost-control mechanisms and ensure adherence to approved project budgets.

3. Variance Analysis

- Conduct detailed budget vs. actual and estimated vs. actual variance analysis.
- Analyse the root causes of cost variances and recommend corrective actions.
- Monitor cost-to-complete and prepare Estimate at Completion (EAC).
- Highlight potential cost overruns and profitability risks to management.

4. Project Profitability & Financial Analysis

- Analyse project margins and profitability on a periodic basis.
- Prepare project-wise profitability statements and contribution analysis.
- Evaluate changes in project scope, specifications and commercial terms and their financial impact.
- Support management in project pricing, commercial decisions and cost optimisation initiatives.

5. MIS & Management Reporting

- Prepare periodic project costing MIS, cost dashboards and management reports.
- Present key project cost indicators, variances, risks and corrective actions to senior management.




- Develop project-wise cost tracking and reporting formats.
- Provide actionable insights to management for improving project profitability.

6. Cross-Functional Coordination

- Work closely with Project Management, Engineering, Procurement, Commercial, Production, Stores and Finance teams.
- Validate project-related purchase commitments, work orders, subcontracting costs and expenses.
- Ensure timely and accurate capture of all project costs.
- Participate in project review meetings and provide financial and costing inputs.

7. Process & Controls

- Develop and strengthen project costing and cost-control processes.
- Ensure proper allocation and accounting of project-related costs.
- Establish standard costing methodologies and project cost-control benchmarks.
- Support internal and statutory audits related to project costing.
- Ensure compliance with company policies, accounting standards and costing principles.

Key Skills & Competencies

- Hardcore Project Costing & Cost Control
- Project budgeting and cost estimation
- Project profitability analysis
- Budget vs. actual variance analysis
- Cost-to-complete / EAC analysis
- Standard costing and cost accounting
- Cost optimisation and cost reduction
- Project MIS and management reporting
- Commercial and procurement cost analysis
- Robust Excel / MS Office skills
- ERP/SAP experience preferred
- Strong analytical and problem-solving skills
- Excellent stakeholder management and communication skills

Educational Qualification

Mandatory:

- CMA / ICMA Qualified

Preferred:





- Additional qualification in Finance, Costing or Management Accounting.

Experience

- 10–15 years of overall experience in Finance / Costing / Project Finance.
- Hardcore hands-on experience in Project Costing and Project Cost Control is mandatory.
- Candidates should have substantial experience handling large-scale projects, capital projects, manufacturing projects or engineering projects.
- Experience in project profitability, cost variance analysis and management reporting is highly desirable.
- Candidates whose experience is predominantly in routine accounting, taxation, audit or general finance without strong project costing exposure should not be considered.

Preferred Candidate Profile

The ideal candidate should be:

- A qualified CMA with 10–15 years of relevant experience.
- Strongly hands-on in end-to-end project costing and cost control.
- Experienced in handling multiple projects and large project budgets.
- Strong in analysing numbers and identifying cost overruns and profitability risks.
- Commercially oriented with the ability to challenge project teams on cost implications.
- Comfortable interacting with senior management and cross-functional stakeholders.
- Experienced in ERP/SAP-based project costing and reporting.

Key Performance Indicators (KPIs)

- Project cost variance against approved budget
- Project gross margin / profitability
- Accuracy of project cost estimates
- Cost overruns identified and controlled
- Forecast accuracy / EAC accuracy
- Timeliness and accuracy of project MIS
- Cost-saving and cost-optimisation initiatives
- Compliance with project costing and financial controls

Critical Requirement: The position requires a CMA-qualified professional with genuine, hands-on project costing experience. Candidates with only general costing/accounting experience should not be considered.

📌 Manager- Project Costing (Bengaluru)
🏢 Jindal Aluminium
📍 Bengaluru