SUMMARY:
Cost Engineer
POSITION INFO:
We are currently looking for a Cost Engineer to join our team. This is a 12 month contract based in Burgersfort.
Minimum requirements:
Relevant Degree or Diploma
At least 5 years of experience as a Cost Engineer in the mining industry
CCP certification advantageous
Role Description
- Updates and Accurate Recording:
- Maintain updates of the Cost Control File and ensure the accurate and timely recording of actual costs incurred to provide precise reporting of cost status at monthly intervals to the project manager and external stakeholders.
- Provide detailed and transparent cost status reports at each monthly interval to project managers and external stakeholders, ensuring stakeholders have up-to-date information for informed decision-making
- Budget Management:
- Ensure accurate budget vs. proposed order comparisons before order placement for management visibility and decision-making.
- Prepare budget impacts and source funds resulting from change requests, ensuring timely processing of approved fund transfers when required.
- Develop detailed budget forecasts and impact analyses for all change requests, utilizing advanced modelling techniques to predict financial implications accurately.
- Ensure the timely processing of approved fund transfers through streamlined workflows and automated approval processes, reducing delays and improving financial management efficiency.
- Cost Monitoring and Reporting:
- Implement robust cost monitoring systems that provide real-time tracking of cash flows and expenditures, integrating with project management and ERP systems for seamless data flow.
- Generate various detailed monthly cost reports, including earned value analysis, cost performance indices, and key project cost metrics, to support proactive decision-making and corrective actions.
- Expedite the settlement of final accounts and order closeout upon completion of work, ensuring compliance with contract terms and minimizing financial discrepancies.
- Cost Overrun Identification:
- Identify potential cost overruns and negative trends against contracted/order amounts early and compile variances, obtaining potential cost impacts from relevant team members promptly.
- Compile detailed variance analyses, incorporating insights from relevant team members and external experts to understand root causes and potential impacts.
- Implement continuous monitoring and control mechanisms to detect and address deviations from contracted/order amounts promptly.
- Change Management:
- Expedite the timely recording of approved site queries/instructions into the project cost system, maintain cost change records within the cost control software, and ensure governance in terms of Budget Limits of Authority.
- Maintain comprehensive cost change records within the cost control software, ensuring traceability and accountability for all changes.
- Forecasting and Trend Analysis:
- Draw trends, forecast, and generate time-phased cash flows reflective of project estimates at completion per control account.
- Process Optimization and Training:
- Regularly review and optimize processes within the Cost Management Plan throughout the project for continuous improvement.
- Train team members on the controls system and inputs, ensuring they understand the overall integration, the importance of data submitted, and opportunities for improvements with team input.
- Integrated Cost Control Plan:
- Develop an integrated cost control plan incorporating all stakeholders and technical functions, with specific emphasis on integration with the Schedule Management Plan.
- Set up required cost control elements, ensuring data flow and integration from engineering through to commissioning.
- Risk Monitoring:
- Monitor the broader environment to identify potential risks to the cost and financial model, providing accurate reports of progress, variance to plan, root causes, and remedial actions.
- Ad Hoc Requirements:
- Address ad hoc requirements as needed by the client, including generating reports, handling vote extensions, and other project-specific needs.
