Introduction Our client, a leading mining company, is currently seeking to engage with a Cost Engineer to join their growing team to be based in Kathu, Northern Cape. This will be a 12 month contract, renewable for up to 3 years.
Reporting into the Project Controls Manager, the Project Cost Engineer takes accountability for the planning and management of a cost control system covering the full scope of medium and large size projects.
The Cost Engineer is responsible to ensure:
Review of the cost estimate (Including comprehensive understanding of the basis of estimate), cash-flow forecast and alignment with Scope, WBS and Schedule. The development of an integrated cost control plan incorporating all stakeholders and technical functions, with specific emphasis on integration with the Schedule Management Plan. Set-up of required cost controls elements (Data flow and integration from Engineering through to Commissioning). Monitoring all cash-flows, providing accurate reports of progress, variance to plan, root causes and remedial actions. Monitoring the greater environment to identify potential risks to the cost and financial model.
Duties & Responsibilities Safety, Health, and Environment
Adhere to all safety, health and environmental practices and requirements. SHE policies and procedures: Escalate all unsafe practices or risks to the direct supervisor/manager. Support good housekeeping in the department and on-site to ensure compliance. Active participation in VFLs, Risk Assessments and close-out of Safety Actions.
Development of integrated cost control plans:
Ensuring alignment with the Group Cost Control Standards for each phase. Ensuring alignment with other key elements / parties of the project e.g. Engineering, Procurement, Construction, Commissioning, Project Economics, Estimating, Scheduling and Cost Accounting. Assisting with the development of the WBS and then ensuring integrity of data between Scope, WBS and Cost Break-down Structure. Base lining detailed cash flow (incl. escalation and forex) directly related to the baseline estimate and schedule. Set-up of an efficient controlled invoice approval process. Support to the development of commercial contracts in order to understand risks to cost control and therefore strategy to treat. Review and ensure delineation of cost control responsibilities to ensure that owner’s interests are sufficiently protected. Establishment of required tools and techniques to ensure ongoing data integrity (auditable) and alignment.
Reporting & Analysis
Provide financial support to other departments as requested to ensure operational efficiency and maintain data integrity through monthly accurate financial reports. Conduct financial analysis and evaluation of business drivers to ensure alignment with business objectives.
Analyze monthly cost reports to eliminate deviations from the budget and supply "over cost" expenditure information to Finance in a timely and justified manner. Monitor the financial evaluation of business initiatives (cost and revenue ideas) to avoid deviations and enhance profitability. Conduct project evaluations as initiated by the business to assess project profitability. Apply Earned Value Management (EVM) principles, including data validation, forecasting and reporting. Prepare and present financial performance reports to management, highlighting key trends and areas for improvement. Liaising frequently with the Scheduling team to understand any potential schedule conflicts, resource constraints, time constraints, etc.
Early identification of variance. Analysis and interpretation of root cause(s). Thorough review of options to remedy cause and / or recover. Initiate formal change process where applicable and maintain full ownership of the change control register, ensuring scope, cost and schedule is integrated into the forecast. Forecast (trending) impact and adjust cash-flow and budgets accordingly based on confidence in remedial and recovery actions. QA of the data collection process (working with and in supplier and contractor offices). Effective (audience focused) communication of key messages.
Cost Management & Compliance
Continuously review and improve financial processes and controls to enhance compliance, efficiency and effectiveness. Maintain the development and management of a financial tracking system for audit purposes. Monitor the section's expenditure within the approved budget to ensure effective cost control and identify potential savings. Enforce compliance requirements and ensure team adherence to legal policies and corporate governance principles. Assist in developing and implementing cost control strategies and best practices across projects.
Stakeholder Engagement & Support
Maintain appropriate stakeholder relationships, enhancing the corporate profile and fostering collaboration. Provide relevant financial support to applicable stakeholders, ensuring their needs are met effectively. Maintain internal and external relations, including interactions with external providers or other functions responsible for meeting business needs and achieving employee satisfaction. Collaborate with project managers to identify and manage financial risks throughout the project lifecycle.
Required technical skills:
Proficiency in computer skills, particularly in using MS Office, including Excel, Word, and PowerPoint. Ability to make sound decisions based on available information and analysis. Capability to deliver precise and engaging presentations to various audiences. Strong research abilities to gather and analyse data effectively. Proficiency in analysing and interpreting complex information and data. Understanding of the essential principles governing effective financial systems. Ability to identify patterns and connections between information and unrelated situations. Able to judge situations from a business perspective and use business sense to identify and respond to opportunities. Able to scan the local and broader environment to gather diverse information potentially relevant to achieving objectives. Skilled in working effectively in different contexts, demonstrated by the capacity to amend one’s approach to be in line with evolving circumstances and priorities. Professional reporting writing skills (minimum requirement that must be demonstrated).
Position interfaces with:
Internal Relationships:
Project Manager, Area Project Manager Manager SIB Projects Manager Project Services VP Projects BU/Group Finance team
External Relationships:
External auditors Suppliers engaged in finance department service provision. Contractors and consultants engaged in finance department work.
Desired Experience & Qualification
University degree/diploma in Financial Accounting or Quantity Surveying. Qualification in Project Management. Qualification in Cost Engineering (e.g. AACE). Cost Management system experience (e.g. Costrac) 5 – 8 years’ experience in the following: Construction / Engineering Project Management environment. Construction Management General Management Contractor Management. Experience in Mining and related operations environment Technical areas - Geology, Mining, Metallurgy, Engineering. Valid driver’s license and own vehicle Willing to relocate to Kathu (Northern Cape), if not in the province
Sourced from external listing
Kwena Human Capital
Recruitment Agency
Sourced from PNet