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Cost Control & Risk Management Engineer

On/Offshore Engineering
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170000TD Requisition #
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Job Description:

•             Deliver accurate forecast of project costs, profitability and cash flow, to the benefit of all stakeholders: Project teams, OC, EMIA management and Finance, in full transparency.

•             Protect, maintain and improve project budgeted profitability.

•             Initiate Corrective actions and counter measures to control cost of the project.

•             Responsible for the implementation of the Risk Management Process in Proposals/Projects including identification, mitigation and reporting of risk.




Cost Control:

•             Setting up cost control Procedures.

•             Setting up Budgets & implementation of Cost Control Tools.

•             Estimation of Total Forecasts and Expected Outcomes.

•             Commitment Control: Analysis of differences between budget, forecast and the commitments of each project in terms of cost, while paying particular attention to any drift in the budget. Issuing early warning signals to all Stake holders on budgetary drift. Controlling the invoice status and reporting to Cost Control Head.

•             Assisting Project Managers in Optimizing and improving budgeted projects.

•             Generation of monthly internal / external status reports (PMR)

•             Development of Cash flows and providing the Accounting department with necessary information for invoicing and accounting.

•             Development of statistical and close-out reports, with a view towards improving feedback data and Estimation tools on the future contracts / proposals.

•             Act as a project point of contact for internal and external audits of all cost control functions by providing full assistance to the auditors.


Risk Management:


•             Establishes and manages the risk organization for the project.

•             Defines and manages the preparation and issuance of all required risk procedures and ensures their due application by all parties throughout the duration of the project. This includes coordinating, training the tools and procedures.

•             Identifies risk across all areas of the project through organization of regular risk assessment sessions with various areas, functional managers and groups.

•             Ensures that appropriate mitigation actions are agreed and are being implemented. This includes ensuring ownership of all significant risks.

•             Works with risk owners to put in place documentation for all controls and risk mitigation plans against ‘very high’ risks.

•             Implements plans within his / her authority to address project issues and opportunities. When the required action is outside its authority, recommends action to project manager.

•             Provides analysis of data related to risks, forecasts and variances to the project plan.

•             Ensures risk activities (assessments and mitigation actions) are being carried out to project standards.

•             Ensures appropriate reporting within the project as well as to the client using the reporting tool. Participates in all project meetings related to project status, progress, scope, cost and schedule.




Must have: Minimum 8-10 year's relevant work experience in projects in the oil and gas sector majority of which should be in a Cost Control & Risk Management role. Additional work experience in other roles will be an advantage. A thorough understanding of Cost & Risk Management Principles.


Nice to have: Knowledge of Cost Control & Risk Management Tools, Cost Control & Risk Management Principles, Good Verbal & Written Communication Skills, Proactive nature. Familiar with current Risk Management Techniques. Knowledge in using @Risk Tool or any Risk Management Tool.


Must Have Skills: Excellent written and oral communication skills; be a team player that works to strict deadlines; confident individual with sound commercial awareness and contract knowledge; good numerical and analytical skills; general management and project management skills.



Education level Required: University Degree in Engineering.

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