Cost Control and Reporting: Regularly monitor project costs, comparing actual expenditures to budgeted amounts. Identify and investigate any deviations or variances and provide timely reports and analyzes to project stakeholders. Track and report on project financial milestones and KPIs
Change Management: Evaluate and manage project change requests and evaluate their impact on costs and schedules. Review change orders and negotiate with contractors and suppliers to ensure fair pricing and minimize cost overruns. Monitor and control costs associated with project scope changes.
Cost Analysis and Forecasting: Perform cost analysis to identify trends, patterns, and areas for cost improvement. Use historical project data and industry standards to develop accurate cost forecasts. Provide recommendations and strategies to optimize project costs and improve profitability.
Cost Control Measures: Implement effective cost control measures and procedures throughout
Project life cycle. Identify cost saving opportunities, value engineering options and alternatives
Solutions without compromising the quality of the project and its objectives. Continuously monitor and evaluate cost saving initiatives.
Vendor Management: Collaborate with procurement teams to evaluate and select suppliers and subcontractors based on cost competitiveness and quality.
Manage ongoing relationships with vendors, negotiate contracts and prices, and evaluate vendor performance to ensure cost effectiveness.
Cost Estimation and Bid Evaluation: Support the estimating team in developing accurate cost estimates and bid proposals for new projects. Evaluate and analyze subcontractor and supplier bids for compliance with project requirements and budget constraints
Risk Management: Identify potential cost risks and uncertainties in construction projects. Develop risk mitigation strategies and contingency plans to minimize the financial impact of unforeseen events or changes in project conditions and requirements.