The Project Controls Leader - I works with Capital Project Teams as an impartial validator of the capital project cost estimate to ensure funding requests are appropriate. Responsible for ensuring cost control is in place for funded projects and ITC (Indicated Total Cost) is properly developed. Also assist Project Managers with EcoSys activities.
Capital Project Cost Control
• Ensure all projects between $1M and $10M in their region have a monthly cost review and produce a cost face-sheet workbook which is then posted in the face-sheet database SharePoint site.
• Work with Project Manager to determine if a cost control professional is needed to produce the face-sheet.
• Provide Cost Control coaching and guidance on project related financial topics.
Success Measures
• All Projects between $1M and $10M have a face-sheet posted monthly in the Face-sheet Database.
Estimate Validation
• Review estimates between $1M and $10M (or GR/IM/Energy/Sustainability >$250K) for budgeting or any funding request. Issue validation letter formally approving the final estimate for use in a Gate review and funding request, establishing the estimate quality and accuracy range, and highlighting potential risks/opportunities.
• Review Project Schedule for issues and duration. Note any potential cost impacts.
• Attend ERA (Engineering Readiness Assessments) and Gate reviews and communicate your validation findings while covering the estimate slide.
• Review proposed funding request amount for partial funding requests to be sure team has adequate funds to carry the project to the next Gate review.
Success Measures.
• All project opportunities between $1M and $10M entered into the capital budget planning cycle have a validated +/-50% estimate.
• Projects over $1M which request funding have a validated estimate of the accuracy appropriate for the funding level EcoSys User Support.
• As needed, train Project Managers to use EcoSys for Funding Requests, Monthly Forecasting, and Project Closings.
• Assist Project Managers with monthly EcoSys tasks.
• Extract data from EcoSys to monitor the health of projects in your region.
Success Measures.
• EcoSys AFEs (Authorization for Expenditures) submitted as needed and forecast updated monthly.
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