Cost Consultant/Manager

Cost Consultant Requirements A. Pre-Planning and Budget Development 1. Initial Budget Setup: o Assist in developing the initial cost estimate based on project scope, drawings, and specifications. o Validate the cost estimates for construction, furniture, equipment, and consultant fees. o Provide recommendations on cost optimization and budget feasibility. o Estimate the cost towards the landlord’s works (incomplete works) o Estimate the cost towards the landlord’s upgradation works. o The budget will construe of all the packages that are directly held by the client (AV, IT, Security Etc.) o Prepare and submit cost plan at pre-feasibility stage , concept stage , schematic stage , DD stage and tender stage. o Support PM for preparing procurement strategy for the project 2. Cost Breakdown Structure (CBS): o Develop and maintain a detailed Cost Breakdown Structure (CBS) aligned with the project phases. o Ensure that the CBS is continually updated to reflect any changes in the project scope. 3. Budget Approval: o Collaborate with the project team, including CLIENT and other consultants, to review and approve the overall project budget. o Ensure that the budget reflects all elements of the project, including construction, furnishings, digital equipment, etc. ________________________________________ B. Ongoing Budget Monitoring and Control 1. Cost Tracking and Reporting: o Provide detailed monthly cost reports, including actual expenditure against the budget. o Track cost variations and advise CLIENT on financial impacts. o Monitor project cash flow and update forecasted final costs regularly. 2. Value Engineering: o Identify and recommend value engineering opportunities without compromising the design intent. o Provide cost-saving solutions for construction, design, and furniture. 3. Cost Control Procedures: o Implement and monitor cost control systems to ensure that all project expenditures are in line with the budget. o Ensure timely reporting of cost changes, including price escalations and unforeseen costs. 4. Change Order Management: o Evaluate change order proposals from contractors and design teams. o Assess and report the cost impact of changes and modifications. o Ensure that any changes are documented and approved by CLIENT . EXPECTED TIMELINE: Ongoing throughout the Project ________________________________________ C. Tender Process and Procurement Support 1. Tender Cost Estimation: o Provide accurate cost estimations for all tender packages (e.g., General Contractor, AV, furniture, etc.). o Support the procurement process by analyzing bids and validating pricing proposals. 2. Bid Analysis and Recommendation: o Assist in evaluating bids from contractors and suppliers, ensuring alignment with the project budget. o Analyze and compare tender submissions to ensure value for money. 3. Pre-qualification and Tender Preparation: o Support the prequalification process for contractors and suppliers. o Assist in preparing and reviewing tender documents to ensure they are cost-effective and comprehensive. ________________________________________ D. Cost and Financial Risk Management 1. Risk Assessment: o Conduct financial risk assessments and advise CLIENT on potential cost overruns. o Develop a risk register identifying key financial risks, including market fluctuations, regulatory changes, and scope changes. 2. Contingency Planning: o Recommend appropriate contingency amounts based on the project complexity and market conditions. o Ensure that contingencies are included in the budget for unforeseen costs. 3. Change Management Support: o Support CLIENT with managing financial impacts from any changes to the scope or schedule. o Track and advise on any cost implications of project delays or accelerated timelines. 4. Bill certification • Ensure that the rates applied in the RA bills align with the contract terms and conditions • Certify the RA bills, confirming that the payment request is justified based on the work executed, and forward it for approval and payment processing. • Conduct Joint Measurement on site with contractors in conjunction with the project managers • Apply any necessary deductions such as retention money, penalties for delays, or adjustments for defective work, as specified in the contract. • Bi Weekly cost report – Prepare a detailed cost report as per agreed format. EXPECTED TIMELINE: Ongoing throughout the Project ________________________________________ E. Post-Construction and Final Account Review 1. Final Account Assessment: o Review and evaluate the final accounts of contractors and suppliers. o Ensure that all payments are accurate and that the project is within the agreed budget. 2. Final Cost Report: o Provide a final report detailing all costs, including any variations and change orders, and compare the final cost with the initial budget. o Assist CLIENT with the final settlement of accounts, including contractor payments and retention sums. 3. Lessons Learned and Cost Performance Analysis: o After project completion, assess the cost performance to identify any areas for future improvement. o Provide a lessons learned report focused on cost control practices.

Location: visakhapatnam, IN

Posted Date: 4/30/2025