Project Costing Specialist

2 weeks ago

Riyadh, Saudi Arabia Hill International Full time

**General Description of Role and Responsibilities**:

- ERP System Management:

- Administer and maintain the ERP system, including configuration, customization, and user access management, to support project cost accounting, budget tracking, and financial reporting requirements.
- Collaborate with IT and finance teams to optimize ERP functionality, troubleshoot system issues, and implement enhancements to streamline project costing processes and improve data accuracy.
- Project Cost Management:

- Develop and implement project cost management strategies, policies, and procedures to monitor, control, and analyze project costs throughout the project lifecycle.
- Coordinate with project managers, engineers, and procurement teams to establish project budgets, cost estimates, and resource allocations based on project requirements and contractual obligations.
- Cost Estimation and Budgeting:

- Assist in the preparation of project cost estimates, budget forecasts, and financial plans using historical data, cost models, and industry benchmarks to support project planning and decision-making.
- Review and analyze project budgets, expenditures, and variances to identify cost-saving opportunities, mitigate financial risks, and ensure adherence to budgetary constraints.
- Financial Analysis and Reporting:

- Perform financial analysis, variance analysis, and cost-benefit analysis to assess project performance, identify trends, and forecast future project costs and revenues.
- Prepare regular and ad-hoc financial reports, dashboards, and executive summaries using ERP reporting tools to provide project stakeholders with timely and accurate financial insights.
- Contract Management and Compliance:

- Collaborate with contract administrators and legal teams to review project contracts, change orders, and subcontractor agreements to ensure alignment with project cost objectives and compliance with contractual terms.
- Monitor contract deliverables, milestones, and payment schedules to track project expenditures, validate invoice charges, and resolve billing discrepancies in accordance with contract requirements.
- Process Improvement and Optimization:

- Identify opportunities for process improvement, automation, and standardization within the project costing function to enhance the efficiency, accuracy, and scalability of cost management processes.
- Implement best practices, controls, and internal audit procedures to maintain data integrity, ensure regulatory compliance, and mitigate fraud risks within the ERP system.

**Qualifications, Experience, Knowledge and Skills**:

- Minimum of 5 + years of work experience.
- Well-versed with Oracle Projects & Costing.
- Oracle and ERP technical & functional background.
- Ability to analyze data and come to conclusions.

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