Regional Lead - Costing & Budgeting(MMR)

Purpose:

PRINCIPAL ACCOUNTABILITIES

• Budget Planning and Management

  - Develop initial project budgets based on preliminary plans and market analysis and area statement. Identify key cost drivers and potential financial risks. Study and analyze project plans to ensure all design elements are accounted for in the budget. Review budgets given by cost consultants at each project stage (concept design, schematics, detail design). Compare the updated budget with the budget estimates at initial stages, identifying variances and/or any discrepancies and finalize budget at all stages. Identify and apply benchmarks against other similar projects to ensure competitive and accurate budgeting. Use industry standards and historical data to inform budget adjustments and forecasts. Prepare yearly cash flows and track actual expenses in coordination with the planning and site team. Identify any major variances and provide recommendations to address them.

• Vendor Management

  - Solicit and obtain detailed quotes from vendors at various project stages to add input to the finalized budgets. Evaluate and analyse vendor quotes to ensure they meet project specifications and budgetary constraints. Assist the contracts team in negotiating and appointing vendors, ensuring all contracts are within the approved budget.

• Cost Tracking and Reporting

  - Maintain and monitor project costs throughout the lifecycle with monthly tracking reports. Ensure that all orders, change orders, and payments are within the approved budget. Prepare comprehensive executive summaries and detailed cost reports for senior management. Highlight key financial metrics, variances, and potential risks in the reports. Track billing data against actual tendered quantities to identify discrepancies and ensure accurate financial reporting. Conduct regular audits to ensure billing accuracy and alignment with the project scope.

• Project Financial Management

  - Rigorously track finalized budget for billings and total cost to complete the project. Implement financial controls and corrective actions as necessary to stay within budget. Work closely with project managers, the finance team, and other stakeholders to ensure accurate billing and seamless integration of budgeting and financial tracking processes. Provide financial guidance and support to project teams to optimize resource allocation and cost management.

• People Management

  - Build a strong team to achieve business objectives. Provide functional expertise and mentoring to teams and build strong talent pipeline. Set performance expectations, review team performance and provide constructive feedback. Identify training needs for team members and ensure the execution of the required training programs in a timely manner. Differentiate performance and reward high performers, thereby building high performance work culture.