Cost Control Engineer

Job Description

Ali & Sons Marine Engineering Factory (a subsidiary of Ali & Sons Holding LLC) is a leading provider of engineering, fabrication, and ship repair services for the oil & gas and marine sectors. With a strong commitment to quality, operational excellence, and customer satisfaction, ASMEF delivers complex projects that support the region’s energy and maritime industries.

Position Overview

We are seeking a detail-oriented and analytical Cost Control Engineer to support project financial performance by monitoring, analyzing, and reporting project costs across multiple projects. The role will work closely with Project, Commercial, Production, Finance, and Estimation teams to ensure effective cost management, accurate forecasting, and profitability throughout the project lifecycle.

Key Responsibilities

• Assist the Senior Cost Controller in all day-to-day cost control activities and ensure smooth functioning of the Cost Control Department.

• Monitor and analyze all project-related costs for assigned projects.

• Prepare Cost to Complete (CTC) reports for Work In Progress (WIP) projects to support monthly closing and profit recognition.

• Interface with Project, Production, Commercial, and Finance teams to develop forecasts and analyze project profitability.

• Prepare project cost reports for invoicing, management review, and financial reporting.

• Monitor actual project costs against approved budgets and report cost variances.

• Review Purchase Orders against project budgets prior to issuance.

• Prepare weekly, fortnightly, and monthly cost reports for management review.

• Monitor costs recorded in SAP and coordinate with Finance regarding cost allocation and reporting.

• Investigate unusual cost transactions and ensure costs are allocated to the correct project and cost codes.

• Maintain variation registers and monitor change orders.

• Establish Cost Breakdown Structures (CBS) and budget elements based on project scope and contract requirements.

• Communicate cost control procedures and ensure compliance across project teams.

• Support project progress tracking and calculate Actual Cost of Work Performed (ACWP).

• Prepare cash flow forecasts, expenditure forecasts, and variance analysis reports.

• Reconcile forecasted and actual expenditures and identify risks impacting project budgets.

• Support internal and external audits by preparing cost reports and supporting documentation.

• Analyze the financial impact of project changes, variations, and schedule deviations.

• Provide cost feedback and lessons learned to the Estimation Department.

• Prepare monthly supplier provisions for major contracts.

• Monitor manpower utilization against budgeted hours and identify productivity trends.

• Calculate standard rates and departmental overhead expenditures as required.

Qualifications & Experience

Education: Bachelor’s Degree in Commerce, Accounting, Finance, Business Administration, or equivalent.

Experience: Minimum 5–10 years of relevant experience in cost control, project accounting, commercial management, or project finance within oil & gas, marine, construction, fabrication, or EPC projects.

Skills: Strong analytical, forecasting, budgeting, reporting, and financial management skills. Advanced proficiency in MS Office, particularly Excel.

Software: Hands-on experience with ERP systems, preferably Oracle

Knowledge: Strong understanding of project costing, cost forecasting, budgeting, contract administration, variation management, and financial reporting.

Why Join Us?

At ASMEF, you will contribute to high-value marine and oil & gas projects where financial discipline, operational excellence, and continuous improvement are critical to success. You will work alongside experienced professionals in a collaborative environment while gaining exposure to complex projects and opportunities for professional growth. If you are passionate about project cost management and driving financial performance, we encourage you to apply.