Project Cost Control Engineer

Job Responsibilities

The Project Cost Control Engineer is responsible for establishing, monitoring, and controlling project costs throughout the full EPCI lifecycle. The role ensures financial performance is aligned with the approved budget while supporting forecasting, change management, client invoicing coordination, and financial reporting in accordance with contractual and company requirements.

Essential Duties and Responsibilities

1. Budget Control & Cost Monitoring

• Establish and maintain project cost control systems and procedures.
• Monitor and track actual expenditures against the approved budget.
• Analyze cost variances and identify potential overruns.
• Ensure cost allocation aligns with the Work Breakdown Structure (WBS) and Cost Breakdown Structure (CBS).

2. Forecasting & Reporting

• Prepare monthly cost reports including commitments, actual costs, forecast at completion (FAC), and estimate at completion (EAC).
• Provide cost analysis and recommendations to Project Manager and management.
• Identify cost trends and recommend corrective actions.
• Support preparation of cash flow forecasts.

3. Change Management

• Support evaluation of variation orders and scope changes.
• Assess cost impact of engineering changes and client-driven variations.
• Maintain change log and ensure proper documentation and approval.
• Assist in preparation of cost impact assessments for claims and change orders.

4. Commitment & Procurement Cost Tracking

• Track procurement commitments, subcontractor costs, and vendor expenditures.
• Verify subcontractor invoices against approved scope and progress.
• Coordinate with Procurement and Finance teams to ensure accurate cost recording.
• Monitor contract utilization and budget consumption.

5. Interface with Project Controls & Planning

• Coordinate with Planning Engineer for integrated cost and schedule analysis.
• Support Earned Value Management (EVM) reporting where applicable.
• Ensure alignment between physical progress and cost performance.
• Assist in project close-out, cost reconciliation, and final account preparation.

6. Client Invoicing & Financial Coordination

• Support preparation of client progress invoices in accordance with contractual terms and milestones.
• Verify progress measurement and ensure alignment between earned value and billed amount.
• Provide cost backup documentation to Commercial and Finance teams for invoice submission.
• Monitor invoice status, payment receipt, and accounts receivable.
• Update cash flow forecasts based on invoicing and payment status.

Basic Training Need

• Company work rule
• SHEQS-Portal
• Occupational Health and Safety and Environment
• Procedure / Work instruction

Competency Requirements

Education:

• Bachelor's Degree in Engineering, Quantity Surveying, Finance, or related field.

Experience:

• 510 years of experience in cost control within Offshore/Onshore Oil & Gas projects.
• Minimum 35 years in EPCI project environment preferred.

Language Skills:

• Excellent communication skills in spoken and written Thai and English

Computer Skills:

• Fluent computer literacy.
• Proficient in MS Excel and cost control systems

Specific Knowledge & Skills:

• Strong analytical and financial analysis skills.
• Good understanding of EPCI project lifecycle and contract types (Lump Sum, Reimbursable).
• Knowledge of WBS, CBS, and cost reporting structures.

Performance Expectation

• Problem-solving under tight offshore schedule.
• Ability to work under pressure and meet reporting deadlines.
• Good communication and coordination skills across departments.
• Detail-oriented with strong reporting accuracy.