Senior Principal Cost Control Specialist

3 weeks ago

London Area, United Kingdom McDermott International, Ltd Full time

About the Company

Our ingenuity fuels daily life. Together, we’ve forged some of the most trusted partnerships across the energy value chain to make what was once just an idea a reality: laying subsea infrastructure thousands of feet below sea level, installing platforms hundreds of miles from shore, using our expertise to design and build offshore wind infrastructure, and reshaping the onshore landscape to deliver the energy products the world needs safely and sustainably. For more than 100 years, we've been making the impossible possible. Today, we're driving the energy transition with more than 30,000 of the brightest minds across 54 countries.


About the Role

The Senior Principal Cost Controls Spec 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 Spec 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 Spec 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 Spec role requires conceptual and innovative thinking to develop creative solutions to Costing challenges.


Responsibilities for Internal Candidates

  • 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 as 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


Qualifications for Internal Candidates

  • Degree in Engineering/Construction/Business or related field, or equivalent combinations of technical training or experience
  • At least 12+ years of experience in project control activities
  • Supervisory experience in a matrix environment and progressive experience working for a contractor
  • Solid background in the oil and gas industry
  • Familiarity with Primavera P6

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