Costing And Budgeting

Job Purpose : Lead and manage the costing and budgeting process for the site, driving the implementation of cost optimization strategies and proactively mitigating risks to ensure financial viability.

Principal Accountabilities

Planning & Budgeting - Conduct comprehensive review and analysis of historical data to ensure accuracy and reliability of budgets submitted. Actively engage with stakeholders in the budget creation process to foster alignment with organizational goals and objectives. Present budget proposals to senior management, emphasizing key assumptions, risks, and optimization opportunities for informed decision-making.

Cost Optimization - Discuss and finalize the scope and fees of the cost consultant's appointment for projects. Review inputs on cost optimization and facilitate discussions with the design team to identify value engineering solutions for optimization. Facilitate discussions in value engineering workshops, ensuring active participation from all relevant stakeholders. Review the value engineering report and provide feedback/recommendations to regional teams, and monitor the effective implementation of recommended actions.

Monitoring Budgets - Review the cost reports prepared and recommend actions for deviations in consultation with various stakeholders and submit Cost report to Management. Oversee the effective implementation of the recommended actions for cost deviations across all regions. Review and provide corrective action for deviations in GFC quantity reconciliation.

Risk Management & Compliance - Prepare the Risk and Control Matrix for the function with inputs from Regional teams. Periodically review effective implementation of controls across all regions. Proactively identify financial risks within the costing and budgeting processes, collaborating with relevant stakeholders to develop contingency plans that mitigate potential impacts on financial performance and organizational objectives. Ensure that all activities within the function strictly adhere to the established Standard Operating Procedures (SOPs).

Continuous Improvements - Implement best practices and standardized procedures to streamline budgeting and costing workflows. Regularly benchmark budgeting and costing practices against industry standards to identify opportunities for improvement. Lead continuous improvement initiatives to enhance the efficiency and effectiveness of budgeting and costing processes. Lead the assessment and integration of cutting-edge technologies into costing and budgeting process, and seek sign off from relevant stakeholders on the finalized technologies. Supervise strategic implementation of tech solutions in costing/budgeting, ensuring alignment with org goals and focus on scalability, efficiency gains, and closure.

People Management - Build a strong team to achieve business objectives. Provide functional expertise and mentoring to teams and build strong talent pipeline. Set performance expectations, review team performance and provide constructive feedback. Identify training needs for team members and ensure the execution of the required training programs in a timely manner. Differentiate performance and reward high performers, thereby building high performance work culture.