The project controller is responsible for overseeing the financial health of the project by analyzing costs, revenue, risks, and pricing for the firm. The role of the project controller can vary depending on the type and scale of the project, but most all project controllers maintain budget tracking tools, issue invoices and billings, manage fee structures, and forecast potential gains and losses in pursuing future work with a client, as well as revenue forecasts, of the project. They are a key part of the project team on large projects and oversee the portfolio of smaller projects on a similar basis, providing financial reporting, and direct cost control to the project managers and the business.
Execute commercial aspects of Projects, coordinating and interfacing departments (Operations, Procurement, AFC, Legal, Share Service Centers) involved in projects, in a prudent conservative way. Review project proposals, estimate and schedules for compliance with customer specifications.
Main tasks and responsibilities
- Maintain Contracts summary of all the projects, including but not limited to tight cost control of project financials working and, in coordination with Project Managers, revenue recognition of POC contracts, ensuring reconciliation of accounting data and control tools.
- Estimate revenue and cash-flow forecasts, and POC calculations per IFRS principles, working closely with Project Manager
- Be responsible for the completeness and accuracy of all project figures to be reported including cost of sales, cash flow of projects, milestone invoicing of projects.
- Compile and check: all relevant cost elements for quotation, order and current cost estimate calculation in coordination with Proposal teams and Accounting/Controlling; the commercial and financing conditions for detailed Quotation, in coordination with contract management and Legal.
- Check commercial terms of contract and required bonds, down payments.
- Set-up and follow invoicing schedule, issue reminders and inform the Project Manager and the Line Manager, in case of delays and/or non-payments.
- Evaluate contract amendments, change orders, prepare and implement approved measures.
- Execute Insurance Claims Management of Projects.
- Compile file for cost of quoting for Contract Variation Orders.
- For Project Completion, issue the Post Calculation, assigning open costs for completion to the project and pending claims.
- At the end of warranty period, close the project and report to the Line Manager
- Seek hedging of foreign currency contracts for Exchange rate fluctuations, according to the company procedure.
- Follow up with Procurement or any other tool of Project management; monitor cost escalations in comparison with bid costs and monitor the execution of projects along with the Project Manager.
- Coordinate the impacted people to issue invoices for interest charges on delayed payments, in coordination with Project Manager and peruse legal remedy for non-payments by customers.
- Prepare and submit periodic Project status report, including calculations of margins, estimated cost to complete and estimated margins, to management for faster decision making.
Education and Professional Experience
- Bachelor Degree in Project management / business administration, finance or equivalent.
- At least 10 years of finance experience in EPC companies with relevant expertise.
- Knowledge of current computer environments and knowledge of current software programs such as Word, Excel, PowerPoint. Experience in SAP is a plus.
- Excellent English communication and written English skills
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