FAQs
What are the primary responsibilities of a Project Cost Controller?
A Project Cost Controller is responsible for integrating cost reporting with the company’s accounting and management information systems, establishing work breakdown structures (WBS), monitoring project costs against budgets, preparing cost reports, forecasting costs, processing budget transfers and change orders, and preparing end-of-job cost reports, among other tasks.
What educational background is required for the Project Cost Controller position?
A Bachelor’s degree in Accounting, Engineering, Business Administration, or a similar field is required for the Project Cost Controller position.
How much experience is necessary for applicants to qualify for this role?
Applicants are required to have 10 or more years of relevant experience in capital projects or construction, particularly within the chemicals, oil & gas, or petrochemical industries.
What software skills are essential for a Project Cost Controller?
A Project Cost Controller should have advanced knowledge of cost control and project management software, proficiency with MS Office (with a primary focus on Excel), and experience with SAP is a must.
What type of analysis should a Project Cost Controller be capable of performing?
A Project Cost Controller should be able to perform variance analysis between actual and budgeted costs, as well as provide cost, risk analysis, and cash flow status for projects.
Is knowledge of project management processes important for this role?
Yes, a solid understanding of the Project Management process and general knowledge of engineering work involved is important for effectively managing and controlling project costs.
What kind of teamwork skills are required for this role?
A Project Cost Controller should have the ability to work in a team environment and should be willing to assume additional or new responsibilities as needed.
What types of projects will the Project Cost Controller be involved with?
The Project Cost Controller will be involved with capital projects or construction projects, particularly in the chemicals, oil & gas, or petrochemical sectors.
What will the Project Cost Controller need to prepare for Project Management meetings?
The Project Cost Controller will need to prepare presentation materials and may participate in Project Management meetings to discuss cost performance and project status.
What types of financial documents should the Project Cost Controller be familiar with?
The Project Cost Controller should have experience reviewing invoices, understanding project costs, and assessing the accuracy of purchase orders. They should also be familiar with billing types and how rates are constructed.
What is an important outcome the Project Cost Controller is expected to achieve with their reporting?
The essential outcome expected is to prepare cost reports that explain variances and root causes, allowing for informed decision-making to help maintain the project budget.