Job Overview

The Senior Principal Cost Controls Specialist is tasked with solving unique and complex problems that have a negative impact on the project. They must proactively identify and solve problems that impact project performance. The Senior Principal Cost Controls Specialist is considered a specialist in the field of Cost Management and they offer a broad base of knowledge about the Project Controls function. The Senior Principal Cost Controls Specialist impacts the direction and resource allocation of programs and projects in their discipline and works within general functional policies and industry guidelines. The Senior Principal Cost Controls Specialist role requires conceptual and innovative thinking to develop creative solutions to Costing challenges.

Responsibilities

Key Tasks and Responsibilities:

• Interpret the project contract and assist the Project Director in its application
• Provide input to Project Execution Plan
• With Project Accounting, coordinate all financial, contractual, and administrative issues/works related to the Project
• Ensure that the project set-up tasks are properly done
• Support Project Accounting in the compilation and review of all invoices for the project
• Monitor project costs and revenues; prepare necessary project reports either on a weekly, monthly, or quarterly basis as deemed appropriate or required
• Evaluate, negotiate, and agree to costs and revenue with client and subcontractor(s) for changes in contract and subcontract work (on larger projects, this responsibility can be with the Contracts Manager)
• Ensure that all Project Controls systems are properly set up and maintained
• Support the development of claims including back charges against subcontractors and vendors
• Responsible for the development of the monthly project EAC
• Assist the Project Director in the preparation of all financial and contractual correspondence as it relates to the Project Controls function
• Ensure that clear and accurate records of financial and contractual matters are maintained
• Monitor key dates, in particular against dates defined in the main contract and any subcontracts
• Prepare contract supplements (on larger projects, this responsibility is with the Contracts Manager)
• Attend all meetings concerning cost, progress, technical and contractual matters
• Leads the Change Management process on the project
• Manage the Project Risk and Opportunity Management (PROM)
• Prepare the project close-out report
• Oversee the cost and progress functions on the project in the completion of their tasks
• Support Regional and Global Project Controls with ad hoc tasks as required
• Liaise with other personnel within the Projects Controls function to improve the accuracy of schedules, cost estimates, contract strategies, etc. by benchmarking and including feedback on upcoming projects
• Support bid efforts as required
• Ensure adherence to McDermott systems and processes