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Cost Controller - Jobs in Toronto, Ontario

Egis Group
Job LocationToronto, Ontario
EducationNot Mentioned
SalaryNot Mentioned
IndustryNot Mentioned
Functional AreaNot Mentioned
Job TypeFull time

Job Description

Job DescriptionCost Control is responsible for overseeing the financial management and cost control processes of projects or programs. This role ensures that projects are completed within the approved budget by implementing effective cost control strategies, monitoring expenditures, and providing accurate financial forecasting. The Cost Control works closely with project managers, finance teams, and other stakeholders to track costs, identify potential cost overruns, and develop corrective actions to maintain financial health throughout the project #39;s lifecycle.Responsibilities:

  • Develop and manage project budgets in collaboration with project managers and other stakeholders, ensuring alignment with project objectives and financial constraints.
  • Perform regular variance analysis to compare actual costs against planned costs. Investigate the reasons for variances and work with project teams to implement corrective measures.
  • Develop and implement Earned Value Management (EVM) principles to track project performance, integrating schedule data with cost and scope to assess progress against baseline plans.
  • Generate and analyze earned value metrics (e.g., CPI, SPI, EAC) to support project forecasting, variance analysis, and reporting to project stakeholders.
  • Manage project cash flow, ensuring that costs are aligned with project milestones and that payments to vendors and subcontractors are made according to contract terms
  • Analyze financial statements to determine possible improvements and develop strategies to optimize cost-effectiveness against approved budgets including committed, incurred, actual/paid and forecast final/out-turn costs
  • Conduct periodic checks of financial documents and assist in the preparation of the annual budget by ensuring timely and accurate final accounting including all claims and outstanding payments
  • Collaborate with department heads to identify cost-saving opportunities and recommend measures to reduce expenses by following the Cost Plan
  • Perform cost-benefit analyses on prospective projects, and provide recommendations on their financial feasibility
  • Prepare and present financial reports (including cost reports, cash flow forecasts, reconciliation payments, final accounts, and job cost reports) to management to aid decision-making processes

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