Cost Management Specialist

Position: Cost Management Specialist

Location: Chennai (Mappedu Village)

Experience-3+Years

ob Summary

The Cost Management Specialist is responsible for planning, monitoring, and controlling project and operational costs to ensure financial efficiency and profitability. This role involves analyzing cost data, preparing budgets, forecasting expenditures, and providing strategic insights to support decision-making across departments.

Key Responsibilities

• Develop and maintain cost control systems, procedures, and standards for projects and operations.
• Prepare detailed cost estimates, budgets, and financial forecasts.
• Monitor project expenditures and ensure alignment with approved budgets.
• Conduct variance analysis and identify cost-saving opportunities.
• Collaborate with procurement, engineering, and project teams to validate cost data and manage financial risks.
• Prepare regular cost reports and dashboards for management review.
• Support contract management by reviewing cost-related terms and ensuring compliance.
• Evaluate supplier and subcontractor cost proposals for accuracy and competitiveness.
• Assist in developing cost benchmarks and performance metrics.
• Participate in project reviews and provide financial insights to improve cost efficiency.

Qualifications

• Bachelor’s degree in Finance, Accounting, Engineering, or a related field.
• Professional certification such as CMA, CPA, or CCP (Certified Cost Professional) preferred.
• 3-7 years of experience in cost management, cost control, or financial analysis.
• Strong analytical and quantitative skills with attention to detail.

• Excellent communication and presentation skills.

• Ability to work collaboratively across departments and manage multiple projects simultaneously.

Key Competencies

• Financial and analytical acumen
• Strategic cost planning
• Budgeting and forecasting

• Risk assessment

• Data-driven decision-making
• Stakeholder collaboration
• Process improvement mindset