Cost Control Manager - Projects

Role Overview The Cost Control Manager – Projects is responsible for overseeing project cost management, budgeting, forecasting, and financial performance across real estate development and construction projects. The role ensures that project expenditures remain aligned with approved budgets, identifies cost variances and potential financial risks, and provides accurate cost reporting to support informed decision-making. This position works closely with Project Management, Development, Procurement, Contracts, Finance, and Consultants to maintain cost discipline throughout the project lifecycle, from design and procurement through construction, handover, and closeout. 2. Key Responsibilities Project Cost Management Develop, implement, and maintain project cost control procedures, systems, and reporting standards. Establish project cost baselines based on approved budgets, project scope, schedules, and contractual commitments. Monitor actual costs, commitments, accruals, and forecast costs against approved budgets. Identify cost overruns, budget deviations, and potential financial risks, recommending corrective actions. Maintain accurate cost breakdown structures (CBS) and cost reports across assigned projects. Budgeting and Forecasting Lead the preparation and review of project budgets, cost plans, and periodic cost forecasts. Monitor project cost performance and estimate the cost to complete (ETC) and estimate at completion (EAC). Conduct variance analysis and provide explanations for significant deviations from approved budgets. Support budget revisions, contingency planning, and financial impact assessments arising from changes in project scope. Ensure alignment between project budgets, procurement plans, construction schedules, and contractual commitments. Change and Contract Cost Control Review change orders, variation requests, claims, and other commercial adjustments to assess their financial impact. Monitor commitments under construction contracts, purchase orders, and consultant agreements. Coordinate with Contracts and Commercial teams to evaluate cost implications and maintain accurate forecasts. Track contingency utilization and ensure proposed changes follow the appropriate approval process. Identify opportunities for cost optimization without compromising quality, safety, or project delivery requirements. Reporting and Performance Analysis Prepare periodic cost reports, dashboards, and management summaries for project leadership. Provide clear visibility into budget utilization, committed costs, forecast final costs, and financial exposure. Develop cost performance indicators and early-warning mechanisms for projects at risk of exceeding budget. Present cost trends, risks, and mitigation plans to senior management and relevant stakeholders. Ensure the accuracy, consistency, and timeliness of project cost data. Stakeholder Management and Governance Work closely with Project Directors, Project Managers, Development teams, Finance, Procurement, and Consultants. Establish consistent cost control practices across multiple projects and project teams. Ensure compliance with approved budgets, delegated authorities, financial controls, and reporting requirements. Support project audits, financial reviews, and project closeout activities. Lead and develop the project cost control team, ensuring accountability and high-quality deliverables. 3. Qualifications and Experience Bachelor's degree in Quantity Surveying, Engineering, Construction Management, Finance, or a related field. A master's degree in Construction Management, Project Management, or a relevant discipline is an advantage. 8–12 years of relevant experience in project cost control, cost management, or commercial management within real estate development, construction, or infrastructure projects. At least 3 years in a managerial or leadership role overseeing project cost control activities. Proven experience managing budgets, cost forecasts, commitments, variations, and financial reporting for large-scale development or construction projects. Experience working with developers, project management consultancies, contractors, or program management organizations is preferred. Strong knowledge of construction contracts, cost estimation, quantity surveying principles, and project financial controls. 4. Technical Skills Project budgeting, cost planning, forecasting, and variance analysis. Cost-to-complete and estimate-at-completion methodologies. Change management, variation assessment, and claims cost evaluation. Construction cost breakdown structures and commitment tracking. Advanced Microsoft Excel and PowerPoint. Proficiency in cost management and project controls systems such as Primavera P6, SAP, Oracle, or similar platforms. Familiarity with Power BI and project cost dashboards is an advantage. Understanding of earned value management (EVM) and project performance measurement. 5. Key Competencies Analytical thinking and financial acumen. Leadership and team management. Stakeholder management and influencing skills. Commercial awareness and risk management. Attention to detail and data accuracy. Problem-solving and decision-making. Strong communication and executive reporting skills. Ability to manage multiple projects and competing priorities. 6. Key Performance Indicators (KPIs) Accuracy of project cost forecasts and estimates at completion. Timeliness and accuracy of periodic cost reports. Percentage of projects maintained within approved budgets. Early identification and escalation of cost overruns and financial risks. Effectiveness of change order and variation cost assessments. Reduction in unplanned cost overruns and budget deviations. Compliance with project cost control procedures and governance requirements. Effective utilization of contingency budgets and cost optimization opportunities. 7. Stakeholder Relationships Internal: Project Directors, Project Managers, Development, Finance, Procurement, Contracts, Commercial, and Risk Management. External: Project Management Consultants, Cost Consultants, Contractors, Engineering Consultants, and other relevant project stakeholders Show more Show less