Senior Principal Cost Controls Spec

Lutech Resources•Houston, TX

About The Position

McDermott is exploring potential candidates for a future role that is not yet open for active recruitment. The Senior Principal Cost Controls Specialist serves as the central cost lead for assigned projects, providing leadership and accountability for project cost management, forecasting, reporting, and financial performance. The role oversees cost control processes, supports change and risk management, and advises 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 decision-making throughout the project lifecycle.

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 experience in Project Controls, including significant experience in Cost Control, Forecasting, Change Management, Risk Management, and Project Financial Management.
Demonstrated experience as the lead Cost Controls professional on large-scale, complex EPC projects in the oil and gas, LNG, petrochemical, or energy industries.
Proven leadership experience overseeing cost management activities and providing strategic guidance to Project Management and project stakeholders.
Strong knowledge of project budgeting, forecasting, EAC development, cost reporting, change management, 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 the ability to present 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 operate 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 all 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.
Ensure project controls systems are properly set up and maintained in accordance with company standards and procedures.
Develop, maintain, and manage project budgets, cost reports, forecasts, and performance metrics.
Lead the preparation, review, and consolidation of project Estimate at Completion (EAC) forecasts.
Monitor commitments, actual expenditures, accruals, and forecast costs to ensure accurate project financial reporting.
Analyze project 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 weekly, monthly, quarterly, and ad hoc project cost reports to project and senior leadership teams.
Coordinate with Project Accounting to align project controls data and financial reporting.
Support the review and validation of project invoices and associated 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 and quantify the financial implications of contract and subcontract changes.
Support the development of change orders, claims, back charges, and recovery strategies as required.
Lead cost-related aspects of Project Risk and Opportunity Management (PROM).
Develop and 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 involving cost, progress, technical, commercial, and contractual matters.
Provide cost leadership, guidance, and mentoring to project teams and project controls personnel.
Liaise with Project Controls personnel across projects to benchmark performance, share lessons learned, and improve forecasting accuracy and project controls 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.
Prepare and support project closeout activities, including final cost reporting, financial analysis, and closeout assessments.
Support Regional and Global Project Controls initiatives and other ad hoc activities as required.
Ensure adherence to McDermott systems, processes, and project controls governance requirements.