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Jobs in Malaysia   »   Jobs in Kuala Lumpur   »   Finance / Banking / Insurance jobs   »   Assistant Finance Manager - Development Cost Control

Assistant Finance Manager - Development Cost Control

Kuala Lumpur
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Job Overview:

The Project Controls Manager will be responsible for the following activities of the project to which

he/she is assigned in Change Management, Cost Control, Planning and scheduling, Progress Monitoring and reporting Forecasting and Project Administration

Key Responsibilities/Accountabilities:
  • Be the right hand man for the Project Manager/Director; generally responsible for providing the project status, forecast of the future, and definition of alternatives. He/she must be diligent and complete in analysis such that the right choice is obvious.
  • Must have a thorough understanding of the contract requirements of the project he/she is assigned to.
  • Keep the Area Project Controls Manager informed of the personnel and training requirements of Project Controls personnel assigned to him/her.
  • Ensure that a robust change management system is in place for all phases of the project by which any change, both internal and external are identified at the very outset.
  • Ensure that the cost and schedule impact of individual changes and the cumulative impact of all changes are evaluated.
  • Ensure that the changes which are to be compensated by the client/vendor are taken uppromptly with the client/vendor. Ensure that we get fairly and adequately compensated for the same.
  • Ensure that logs of both internal and external changes are maintained.
  • Ensure that the costs from the “as-sold” bid cost summary are broken down into the standard Work Breakdown Structure line items; ensure that budgets and the chart of accounts are distributed and explained to the budget managers.
  • Ensure that the budgets are controlled before the cost commitments are made, and the commitments are tracked once they are made.
  • Participate in critical procurement and subcontract evaluations and negotiations to ensure cost, cashflow, warranties/guarantees and schedule requirements are adequately addressed.
  • Assist the Project Manager in making “make or buy” and “subcontract or do it yourself” decisions.
  • Ensure that corporate treasury is involved before any foreign currency transactions are committed to and they are kept informed about all foreign currency commitments as they are made.
  • Ensure that the cash flow projections are done accurately and on a timely basis.
  • Ensure that the costs are being continuously collected in such a manner that feedback to estimating is possible at any given point of time.
  • Ensure that the project starts with and maintains an overall integrated Level 3 schedule with appropriate links.
  • Liaise with the construction manager to ensure that the Fabrication, Offshore, Hookup and Precommissioning schedules are done in enough detail (Level 3) and that Required On Site (ROS) dates for engineering deliverables, materials and subcontract services are clearly established.
  • Liaise with the engineering manager to ensure that the engineering deliverables register (Level 4) is maintained with the plan, forecast and actual dates for various milestones (e.g. ROS Dates, Inter Discipline Check, Approval by Client, Issued as AFC, etc.).
  • Liaise with the procurement manager to ensure that the procurement and subcontract plan (Level 4) is maintained with the plan, forecast and actual dates for the various milestones (ROS dates, Issue Request For Quotation, Complete Bid Evaluations, Issue Purchase Order, receipt of critical documentation, Delivery etc.).
  • Liaise with critical vendors and subcontractors through the procurement manager and monitor their schedules; also incorporate their schedules into the overall schedule.
  • Ensure that the Level 4 Engineering and Procurement plans are appropriately grouped into the overall Level 3 schedule.
  • Ensure that resource planning is done adequately and the project is staffed with appropriate and adequate personnel.
  • Proactively manage the schedule; review and use late reports and look ahead reports to achieve same; progress the schedule on an ongoing basis and analyze impact.
  • Set up a progress measurement mechanism which is reflective of physical progress made.
  • Ensure that progress is measured on a weekly basis for all aspects of the project.
  • Ensure that the progress curves and reports are made and distributed internally and externally on a timely basis.
  • Ensure that progress is agreed on a monthly basis with the client; issue and follow up invoices on a timely basis.
  • Prepare project weekly and monthly reports for internal and external distribution as per internal and Contract requirements.
  • Initiate and maintain project metrics (Project Success Index) on an ongoing basis. Review and recommend appropriate action to the project manager.
  • Ensure that the profit and cash forecasts are accurate and timely.
  • Always be “forecast conscious”; ask the question “how does this event affect the forecast?”
  • Use “earned value” concept in forecasting; use commitments made and the “earned value” to accurately forecast commitments to go.
  • Review Risk and Opportunity register on an ongoing basis to ensure they are adequately addressed in the project forecasts.
  • Review and manage “contingencies” as per guidelines.
  • Be SOX Compliant; maintain Red Book as per guidelines
  • Ensure that logs are kept on a timely basis for correspondences between the client and us and the vendors and us.
  • Ensure that the letters and notices from the client/vendors/subcontractors are appropriatelyreplied to.
  • Ensure that contract requirements with respect to approvals of vendors/subcontractors, providing bank/parent company guarantees etc are adhered to.
  • Ensure that back-to-back guarantees and warranties are obtained from vendors and subcontractors and a log of the same is being kept.
  • Ensure that a “gap analysis” of risks is done for major procurement and subcontract items; this is the gap between the risks being undertaken by us in the main contract and the risks undertaken by the vendor/subcontractor as per the subcontract.
  • Provide input for preparation of documents for customs clearances, legalization documents and tax documents.
Basic Qualifications:
  • Engineering Graduate
  • 10 Years
Company Overview:

McDermott is a premier, fully-integrated provider of technology, engineering and construction solutions to the energy industry. For more than a century, customers have trusted McDermott to design and build end-to-end infrastructure and technology solutions—from the wellhead to the storage tank—to transport and transform oil and gas into the products the world needs today.

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