Senior Principal Cost Controls Spec

McDermott • Houston, TX

3d

About The Position

The Senior Principal Cost Controls Specialist serves as the central cost lead for assigned projects, providing overall leadership and accountability for project cost management, forecasting, reporting, and financial performance. The role oversees cost control processes, supports change and risk management activities, and provides strategic guidance to Project Management to help achieve project objectives and commercial targets. Drawing on extensive project controls expertise, the specialist identifies risks and opportunities, drives performance improvements, and supports effective decisions throughout the project lifecycle.

This is a potential future role at McDermott and is not yet open for active recruitment. The company invites interested candidates to submit their details for consideration when the role becomes available.

Requirements

• Bachelor’s degree in Engineering, Construction Management, Business, Finance, Project Management, or a related discipline, or an equivalent combination of education and experience.
• At least 12 years of progressive Project Controls experience, including significant experience in Cost Control, Forecasting, Change Management, Risk Management, and Project Financial Management.
• Experience as the lead Cost Controls professional on large-scale, complex EPC projects in the oil and gas, LNG, petrochemical, or energy industries.
• Leadership experience overseeing cost management and providing strategic guidance to Project Management and project stakeholders.
• Strong knowledge of project budgeting, forecasting, EAC development, cost reporting, change and risk management, and project performance analysis.
• Ability to lead cross-functional teams, influence stakeholders, and manage multiple priorities in a matrix organization.
• Supervisory experience in a matrix environment and progressive experience working for an EPC contractor.
• Strong analytical, commercial, problem-solving, and decision-making skills, with a proactive and results-oriented approach.
• Excellent written and verbal communication skills, including presenting project performance information to senior leadership and clients.
• Proficiency in Primavera P6, Microsoft Office applications, and project controls systems used for forecasting, reporting, and project performance analysis.
• Familiarity with project risk management, change management, and integrated project controls processes.
• Ability to work effectively in a global, multicultural environment and represent the company with professionalism and credibility.

Responsibilities

• Serve as the central cost lead and primary focal point for project cost control activities.
• Provide input to the Project Execution Plan and project controls strategies.
• Establish, implement, and maintain project cost control systems, processes, and reporting requirements in accordance with company standards and procedures.
• Develop and manage project budgets, cost reports, forecasts, and performance metrics.
• Lead preparation, review, and consolidation of Estimate at Completion (EAC) forecasts.
• Monitor commitments, expenditures, accruals, and forecast costs for accurate financial reporting.
• Analyze cost performance, trends, variances, productivity impacts, risks, and opportunities, and recommend corrective actions.
• Develop and maintain project cash flow forecasts and spending projections.
• Prepare and present regular and ad hoc cost reports to project and senior leadership teams.
• Coordinate with Project Accounting to align project controls data with financial reporting.
• Support review and validation of project invoices and related financial documentation.
• Lead cost evaluation and financial assessment of project changes, trends, and potential claims.
• Support Change Management through cost impact assessments, forecasting, reporting, and recovery planning.
• Evaluate financial implications of contract and subcontract changes.
• Support development of change orders, claims, back charges, and recovery strategies.
• Lead cost-related aspects of Project Risk and Opportunity Management (PROM), maintain risk-adjusted forecasts, and recommend mitigation and optimization strategies.
• Collaborate with Planning and Progress teams to align cost, schedule, and progress measurement systems.
• Support earned value management and integrated project performance reporting where applicable.
• Participate in project reviews and meetings on cost, progress, technical, commercial, and contractual matters.
• Provide cost leadership, guidance, and mentoring to project teams and project controls personnel.
• Benchmark performance and share lessons learned with Project Controls personnel across projects to improve forecasting accuracy and practices.
• Support bid and proposal efforts with cost control expertise, benchmarking data, and lessons learned.
• Maintain accurate and auditable financial records throughout the project lifecycle.
• Support project closeout, including final cost reporting, financial analysis, and closeout assessments.
• Support Regional and Global Project Controls initiatives and other ad hoc activities.
• Ensure adherence to McDermott systems, processes, and project controls governance requirements.

What This Job Offers

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