Key Responsibilities
🔹Cost Monitoring, Forecasting & Budget Control
Set up and manage the project budget structure in line with the Cost Management Plan and Work Breakdown Structure (WBS).
Track and follow up on cost contingencies as defined in the Cost Management Plan.
Coordinate with budget stakeholders to gather and validate cost information.
Establish and maintain the project cost baseline, and monitor deviations with clear justification.
Update cost forecasts regularly based on project progress and earned value metrics, challenging assumptions to ensure accuracy.
Prepare and deliver monthly cost reports, including baseline comparisons, KPIs, and other key metrics aligned with the Cost Management Plan.
Process contractor and supplier invoicing requests, obtaining necessary internal approvals.
Ensure integration and consistency of all cost data within Elia’s systems (SAP-based).
🔹Schedule & Budget Analysis / Change Impact Assessment
Collaborate with the Project Scheduler, Risk Manager, and PM Officer to assess cost and schedule impacts of project changes.
Perform change impact analysis as part of the change control process, supported by detailed documentation and simulation versions of the project schedule.
Apply approved change requests to cost baselines and planning; maintain accurate records of revisions and baselines.
Contribute to periodic reporting to Corporate Controlling and other internal governance bodies.
🔹Project Financial Oversight
Conduct monthly financial updates, highlighting variances between actuals, forecast, and approved budget.
Collaborate with project teams (Project Director, Planner, Quantity Surveyor) to maintain up-to-date financial projections.
Support the timely implementation and documentation of project changes.
Lead the preparation of audit documentation, including financial position papers and change logs.
🔹Lessons Learned & Continuous Improvement
Take a lead role in promoting continuous improvement in project cost management practices.
Act as a subject matter expert in budgeting, sharing best practices and coaching project teams on cost estimation and forecasting.
Continuously challenge and refine budget inputs to drive financial accuracy and efficiency.