Cost Lead

Job Summary:

The Cost Control Lead is responsible for overseeing and managing all cost control activities across the organization’s projects. This role ensures accurate tracking, reporting, and forecasting of project costs, supporting effective decision-making and maximizing profitability. The Cost Control Lead collaborates closely with project managers, finance teams, and other stakeholders to maintain budgetary discipline, identify cost-saving opportunities, and mitigate financial risks.

Key Responsibilities:

• Develop, implement, and maintain cost control systems, processes, and procedures.
• Monitor project budgets, expenditures, and commitments to ensure alignment with approved budgets and forecasts.
• Prepare and analyze cost reports, including variance analysis and trend identification.
• Provide timely and accurate cost data to project leadership and management team.
• Conduct regular cost reviews, investigating discrepancies and recommending corrective actions.
• Coordinate with procurement, engineering, and construction teams for accurate cost tracking.
• Support project managers in developing budgets and forecasts for new and ongoing projects.
• Identify and drive cost-saving initiatives, negotiating with vendors and contractors when necessary.
• Ensure adherence to company policies and contractual obligations regarding financial control and reporting.
• Present cost status, forecasts, and recommendations to senior management and stakeholders.
• Lead and mentor cost control staff, promoting knowledge sharing and continuous improvement.
• Contribute to risk management efforts by highlighting cost-related risks and proposing mitigation strategies.
• Maintain comprehensive and organized documentation for audits and reviews.
• Utilize cost control software and tools efficiently for budgeting, tracking, and reporting activities.

Qualifications:

• Bachelor’s degree in Finance, Accounting, Engineering, or related field; Master’s degree preferred.
• Minimum 5 years of progressive experience in cost control, preferably in construction, engineering, or project-based environments.
• Proven experience leading cost control functions on large-scale projects.
• Strong analytical, problem-solving, and organizational skills.
• Proficiency in cost management software and Microsoft Excel; experience with ERP systems preferred.
• Excellent communication and interpersonal skills.
• Ability to work collaboratively and influence at all levels of the organization.
• Professional certification (e.g., CCP, PMP, CMA) is a plus.