Cost Controls Specialist

Lutech Resources • Houston, TX

3d

About The Position

McDermott is exploring potential candidates for a future Cost Controls Specialist role. The position is not yet open for active recruitment; interested candidates may submit their details to be considered when the role becomes available. The Cost Controls Specialist applies cost management principles to support cost analysis, forecasting, reporting, and performance measurement. Working under general supervision, the specialist helps identify and resolve routine project cost issues while building practical experience through company procedures, technical knowledge, and industry best practices.

Requirements

• Bachelor's degree in Business, Finance, Engineering, Construction Management, or a related discipline.
• Typically 2–5 years of experience in cost control, project controls, project accounting, or related disciplines supporting EPC projects.
• Basic understanding of Earned Value Management (EVM) principles and project performance measurement.
• Good analytical, problem-solving, and coordination skills.
• Ability to prioritize multiple assignments and manage deadlines effectively.
• Ability to work collaboratively within multidisciplinary teams.
• Adaptability and ability to work effectively in a dynamic project environment.
• Proficiency in Microsoft Office applications, particularly Excel.
• Basic understanding of the relationship between scope, cost, schedule, and project progress.

Nice To Haves

• Familiarity with ERP systems such as JD Edwards.

Responsibilities

• Assist in developing and implementing the Project Controls Execution Plan.
• Support project controls system setup and project initiation activities.
• Participate in implementing the project OBS, WBS, and CBS within financial, cost, and progress systems.
• Follow McDermott cost control and progress measurement procedures.
• Apply basic Earned Value Management (EVM) principles in project performance analysis and reporting.
• Develop understanding of EPC contracting methodologies, including Lump Sum, Cost Reimbursable, Unit Rate, and Cost Plus contracts.
• Maintain awareness of contract terminology and project commercial requirements.
• Assist with estimate conforming activities and cost baseline development.
• Understand the project chart of accounts and its relationship to the estimate, budget, and contract scope.
• Assist in preparing cost reports, forecasts, and performance analyses.
• Support project accounting activities, including invoicing and cost-to-billing reconciliations as required.
• Assist in monitoring project trends and understanding their impact on project cost forecasts.
• Support change management activities, including preparing cost estimates and supporting documentation for change verification.
• Assist with setup and maintenance of project progress measurement systems.
• Assist in verifying Issued for Construction (IFC) quantity take-offs and installed quantities for accurate progress measurement and reporting.
• Ensure IFC quantity take-offs are aligned with turnover and completion systems.
• Support implementation of Rules of Credit and maintenance of project progress measurement systems.
• Develop spreadsheet-based analysis and reporting tools to support project controls activities.
• Prepare and provide timely and accurate cost and progress measurement data in accordance with project reporting requirements.
• Develop a basic understanding of scheduling processes and their relationship to cost and progress performance.
• Participate in project closeout activities, including data gathering and report preparation.
• Perform other related duties as assigned.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level