Cost Control Officer

Job Summary The Cost Control Officer is responsible to monitor and manage project expenditures ensuring adherence to budgets and identifying areas for costsaving opportunities They analyze financial data track expenses and implement strategies to optimize project profitability while maintaining quality standards Additionally they provide financial insights and recommendations to support informed decisionmaking and mitigate financial risks Job Responsibilities 1 Monitor project budgets and expenditures to ensure adherence to financial plans and identify any variances or discrepancies Track and analyze project expenses including labor costs material purchases subcontractor fees and overhead expenses to maintain accurate financial records Conduct cost analysis and costbenefit evaluations to identify costsaving opportunities optimize resource allocation and improve project profitability Prepare financial forecasts and projections based on project timelines resource requirements and market trends to support longterm planning and decisionmaking Perform variance analysis to compare actual costs against budgeted costs investigating any deviations and implementing corrective actions as needed to mitigate financial risks Generate regular reports and financial statements summarizing project costs expenses and budget performance for management review and decisionmaking purposes Develop and implement cost control procedures policies and best practices to enhance efficiency streamline processes and minimize wastage Assist in contract negotiations review contract terms and conditions and ensure compliance with contractual agreements to mitigate financial risks and optimize costeffectiveness Collaborate with vendors suppliers and subcontractors to negotiate pricing terms and payment schedules ensuring cost competitiveness and adherence to budgetary constraints Provide financial advice and recommendations to project managers and stakeholders on costrelated matters including budget planning forecasting and risk assessment to support informed decisionmaking and project success