About the role:
The Progam Cost Lead/ Cost Manager is responsible for ensuring the accuracy of all cost elements, which encompasses tasks such as developing Rough Order of Magnitude (ROM) estimates, categorizing funding types, conducting cost reviews, processing funding requests (ARs), initiating contracts, addressing cost risks, managing cash flow, and overseeing invoicing processes.
What this job involves:
[General Duties]:
1. Reporting: Develop and maintain a comprehensive site-level cost report, encompassing project-specific details, and provide timely monthly, quarterly, and annual variance reporting.
2. Cash Flow/Accruals: Develop, monitor, and submit site cash flow and accruals throughout the project lifecycle, establishing an accurate baseline.
3. Funding Requests: Serve as the primary point of contact for promptly escalating any delays in funding, such as contracts, change orders, and AR requests, to PM & PCM (or sub-regional controls if applicable).
4. Invoicing: Thoroughly review project invoicing, promptly documenting and escalating any identified issues for resolution.
5. QFP/MFP: Conduct a diligent review of project costs to verify their appropriateness and adherence to QFP & MFP.
6. Contract Drafting: Conduct a meticulous review of all contracts and associated methodologies.
7. CCB (Construction Claims Board): Enter all relevant claim information into a regional claims log.
8. Data Integrity: identify and document any instances of data integrity issues, promptly escalating them to the Project Control Manager or Regional Cost Lead for resolution.
[Intake Phase]:
A. MARCUS Pipeline cost.
B. Initial ROM validation to support portfolio budget accuracy.
C. Validate project funding/financial attributes; category, source, type, etc.
1. Assist in selecting the most suitable bid and cost template for project procurement activities.
2. Support project ROMs (identify class estimate) and benchmarking and/or comparison.
3. Identify/validate the UF4 WBS outline.
4. Cost business approval methodology (benchmark, phased standalone, etc); support team in vendor procurement strategy (LS, GMP, etc).
5. Provide assistance in the development of comprehensive and detailed RFPs.
[Pre-construction & Design Phase]:
1. Manage project funding requests (AR) - escalate as required.
2. Create a thorough and well-planned project budget.
3. 3. Entry of contracts (inc; WBS, mad-libs, attachments, etc).
4. Assist in the creation and maintenance of the FFC.
5. Receive and evaluate project bids, assessing their adherence to the budget and compliance with established guidelines.
6. Offer well-informed recommendations regarding the approval of invoices and timely processing of payments.
[Execution Phase]:
1. Input as-built cost accurately into the cost/benchmarking database.
2. Effectively oversee and manage the project budget, including tracking and monitoring budget utilization as well as identifying and mitigating risks associated with the owner's OCO, PCO, ACO, CCO & EWN.
3. Maintain a comprehensive log of any cost savings achieved throughout the project.
[Closeout phase]:
1. Ensure timely financial closure by the project schedule, meeting all necessary deadlines.
2. Generate and deliver accurate and reliable project cost performance data to stakeholders regularly.
[Deliverables]:
1. Prepare ROM estimates for all Marcus projects by the project schedule.
2. Conduct cost reviews and prepare recommendation reports for project RFPs, claims, and Change Orders.
3. Generate site cost reports including project-specific information on a weekly, monthly, quarterly, and annual basis.
4. Perform analysis of WIP and variances for projects.
5. Monitor cash flow and accruals throughout the project life cycle.
6. Review invoices and payment applications, providing recommendations.
7. Ensure financial closeout and assess project performance for all projects per schedule.
8. Maintain comprehensive cost-related data and supporting documentation.
