Project Financial Manager

4 days ago

Baghdad, Baghdad, Iraq beBeeCostController Full time
Job Title">

The Cost Controller is responsible for overseeing and controlling project costs to ensure financial efficiency and compliance with budgets for Power Plants and Oil & Gas Rehabilitation & Maintenance projects. This role involves tracking expenditures, forecasting costs, identifying variances, and implementing corrective actions to optimize project financial performance.

Responsibilities:

1. Cost Monitoring & Control


• Develop, implement, and maintain cost control procedures for rehabilitation and maintenance projects.


• Track and analyze project expenditures against approved budgets.


• Identify cost variances, investigate root causes, and recommend corrective actions.


• Ensure all project costs (labor, materials, subcontractors, equipment) are accurately recorded and reported.

2. Budgeting & Forecasting


• Assist in preparing project budgets and cost estimates for rehabilitation and maintenance works.


• Update cost forecasts based on project progress, change orders, and market trends.


• Provide monthly cost reports, including Earned Value Analysis (EVA), to management.

3. Financial Reporting & Analysis


• Prepare detailed cost reports, cash flow projections, and variance analysis.


• Liaise with project managers, engineers, and procurement teams to validate costs.


• Ensure compliance with company policies, accounting standards, and contractual obligations.

4. Contract & Change Order Management


• Review and validate contractor/subcontractor invoices and change orders.


• Monitor contract terms to avoid cost overruns and disputes.


• Support claims management and dispute resolution related to project costs.

5. Risk Management & Cost Optimization


• Identify financial risks and propose mitigation strategies.


• Recommend cost-saving measures without compromising quality or safety.


• Conduct cost benchmarking against industry standards.

6. Collaboration & Communication


• Work closely with project teams, finance, and procurement departments.


• Present cost performance updates to senior management and stakeholders.


• Ensure alignment between cost control and project scheduling.

Qualifications & Skills


• Bachelor's degree in Engineering, Finance, Accounting, or Quantity Surveying.


• 5+ years of cost control experience in Power Plants, Oil & Gas, or Heavy Industrial Maintenance/Rehabilitation projects.


• Proficiency in cost control software (SAP, Oracle, Primavera, MS Project, Excel).


• Knowledge of Earned Value Management (EVM) and project accounting.


• Strong analytical and problem-solving skills.


• Attention to detail and accuracy in financial reporting.


• Excellent communication and presentation skills.


• Ability to work under pressure and meet deadlines.


• Familiarity with FIDIC contracts and industry best practices is a plus.

Work Environment


• Office-based with occasional site visits to Power Plants/O&G facilities.


• May require travel to project locations.

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