The main purpose of the Cost Control Project Lead is to optimise project success by delivering against agreed program objectives. Some of the key specifications we attribute to the purpose include:
- Oversee and lead the cost control team to ensure effective management of project cost.
- Work collaboratively with the Planning, Risk, Change, Reporting, Commercial, Delivery, and Finance teams to ensure integrated project controls.
- Develop and implement cost control plan & procedures to monitor and manage project cost.
- Understanding and knowledge of cost control systems like EcoSys , Prism etc
- Establish and maintain project budgets.
- Implement change management processes within cost control frameworks.
- Prepare regular cost reports, forecasts, and financial summaries for stakeholders.
- Identify cost-saving opportunities and recommend corrective actions.
- Track actual costs against budgeted figures and analyze variances.
- Monitor and control project expenditures, ensuring adherence to approved budgets.
- Ensure compliance with financial regulations and project contract requirements
- Develop and implement Earned Value Management (EVM) systems to track project performance.
- Analyse project data to calculate EVM metrics.
- Prepare reports based on EVM metrics to provide insights into project progress and performance.