Cost Controls Specialist

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McDermott is hiring a Cost Controls Specialist that 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 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

Qualifications

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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