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Vector HR
Budget Controller – EPC Project
Vector HR · posted 4 months ago
Mumbaifinance
About the role
Company Website:
Job Title - Budget Controller – EPC Project
Experience - 6–10 years in EPC / Infrastructure / Industrial Projects
Location - Mumbai
Industry - Water / EPC / Infrastructure / Power / Oil & Gas / Industrial Projects
Role Overview - The Budget Control Economist will be responsible for planning, monitoring, and controlling project budgets and costs across EPC projects. The role ensures financial discipline, cost visibility, and margin protection through robust budgetary control, forecasting, and reporting mechanisms.
Key Responsibilities -
1. Budgeting & Cost Planning
Prepare project budgets in coordination with Engineering, Procurement, and Construction teams
Develop cost breakdown structures (CBS) aligned with WBS
Establish baseline budgets and cost control procedures
2. Cost Monitoring & Control
Track project costs vs budget on a regular basis
Monitor commitments, actuals, accruals, and forecasts
Identify cost overruns, savings, and variances and highlight risks early
3. Forecasting & Cash Flow Management
Prepare cost-to-complete (CTC) and estimate-at-completion (EAC) reports
Support project cash flow forecasting and funding requirements
Monitor impact of schedule changes on project costs
4. Change Management & Variations
Evaluate financial impact of change orders, scope variations, and claims
Support commercial team in variation pricing and negotiation
Maintain records for approved and pending variations
5. Reporting & MIS
Prepare periodic cost reports, dashboards, and management summaries
Present budget status, risks, and corrective actions to project management
Support monthly project reviews and audits
6. Coordination & Controls
Work closely with Project Manager, Planning, Procurement, Finance, and Contracts teams
Ensure compliance with internal controls and EPC financial procedures
Support internal and external audits related to project cost and budget
Key Skills & Competencies
Strong understanding of EPC project lifecycle and cost control methodologies
Expertise in budgeting, forecasting, variance analysis, and cost reporting
Knowledge of WBS/CBS, EVM (Earned Value Management) preferred
Proficiency in ERP systems (SAP / Oracle / Primavera / MS Project)
Strong analytical, communication, and stakeholder management skills
Qualification
Bachelor’s degree in economics / finance / Costing
MBA / Postgraduate qualification preferred
Preferred Experience
EPC projects in power, infrastructure, oil & gas, water, or industrial plants
Experience working on large-scale, multi-discipline EPC projects
Company Profile:
IDE Technologies Ltd. is a pioneer and world leader in water technologies . The company specializes in the development, engineering, production and operation of advanced desalination as well as innovative industrial solutions.
Leading the world in clean water solutions
· Today: IDE is a world leader in the desalination industry. With more than 45 years of know-how and experience, IDE delivers end-to-end project solutions for its customers throughout the world. Leveraging superior thermal and membrane technologies , IDE specializes in the delivery and operation of various desalination and water treatment solutions.
· Tomorrow: IDE is developing a growing portfolio of economic green water treatment solutions for industry and municipalities - especially in the areas of industrial stream concentration/purification and wastewater treatment. In creating customized, end-to-end solutions for its customers, IDE leverages its proprietary technologies and skills in project management, operations, support and financing, all built through 45 years of leadership in the water industry .
· In addition: IDE continues to apply its advanced technologies in the areas of industrial evaporation and heat exchange, resulting in unique breakthrough solutions in the fields of snow and ice production, mine cooling, thermal energy storage and district heating .
IDE - Providing India with Desalination Solutions
Abstract - India is a strategic market for IDE . Since 1994, the company has been building up an impressive track record in India with 22 thermal desalination facilities in the industrial sector, and a total installed capacity of approximately 270,000 m3/day. The desalination facilities provide water for various applications ranging from nuclear power generation to oil refineries and industrial facilities. Some of the desalination plants are among the world's largest of their kind. IDE 's activities in India have proved successful in building reliable, durable and economical desalination plants producing high quality water for industry production and for the benefit of surrounding communities, while enabling significant energy saving.