What are the responsibilities and job description for the Cost Controls Specialist position at McDermott?
Job Overview :
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.
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 the progress measurement system on the project
Ability to generate spreadsheet analysis tools for management review of progress
Reporting – Provide Timely and accurate Cost and Progress Measurement Data
Basic understanding of Scheduling Software and processes and their relationship to cost and progress
Participate in Closeout Report data collection
Support the professional development and growth of junior project controls personnel
Essential Qualifications and Education :
Bachelor’s degree in Business, Finance, Engineering, Construction Management, or related fields or
2 - 5 years of relevant experience working for an EPC
Must know about earned value systems
Problem-solving Attitude and high level of coordination skills
Demonstrated effectiveness in prioritizing multiple tasks and managing efforts to meet deadlines
Demonstrated effectiveness in working with others in a multifunctional team
Accepts change and works well under pressure
Understanding of JDE Edwards is not required but would be a plus
Knowledge of common business tools such as Microsoft Office applications
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McDermott is an equal opportunity / affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, genetic information, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law.
