Requisition ID: 23666
Job Category: Cost Contol Internship
Location: Johannesburg, Greenstone Hill
An opportunity has come about in AEM Project Controls for a Cost Control Intern that will be appointed to undergo training to acquire cost control skills. Training period is envisaged for approximately twelve months.
The successful person will be assigned to various areas on Project Controls within the Greenstone, Johannesburg office. The training will cover the practical aspects and towards the latter end of the training, where appropriate, the person is likely to be assigned to a project and supporting the Cost Control elements.
At the end of the training, the respective person will be required to perform the below skills:
- Be familiar with the duties and responsibilities of Cost Control and how this function aligns to the other attributes within project management
- Conformance to the Project Lifecycle Process, Global and Regional Project Control Guidelines
- Capable of working and setting up projects in Hatch systems, those applicable, e.g. iPasPM
- Planning, controlling and reporting of project costs, contract values and project results
- Analysis, compilation and clarification of project budgets, estimates and forecasts
- Be able to conduct man-hour forecasting and trend management
- Basic understanding of commercial cost controlling activities on projects
- Cost control co-ordination with inputs to the project month end reporting requirements
Importantly, the Intern must have a passion and attitude linked to learning and acquiring in-depth knowledge of Cost Control.
Duties include but are not limited to:
Together with the Project Manager and in close alignment with project disciplines:
- Define suitable project work breakdown structures (WBS’s), assign the project scope in the form of deliverables, assign man-hour resourcing to these respective deliverables and assign realistic estimates and control budgets to this.
- Project cost control set up with alignment with the prime contract, planning and reporting tools in accordance with Hatch systems, SAP, iPasPM, etc.
- Continuous evaluation and follow up of project budgets with responsible persons
- Undergo trend and change management and associated reporting
- Responsible for invoicing to the customer according to contractual milestones. Responsible for the collection of the said invoices invoiced to customers within the agreed payment terms
- Optimise cash in and outflow by being aware of all payment-relevant milestones. Encouraging the project team to manage such milestones timeously to improve the project’s cashflows.
- Manage the updating of cost reports, identify any anomalies and discrepancies, highlight cost concerns and assist with corrective action
- Manage the receivables portfolio and interface with customers to ensure on time collection of debts
- Handle all foreign exchange matters pertaining to contracts including making necessary applications, remittances and interface with company’s bankers
- Responsible for project commercial management and claims management on smaller projects. Provide the required input and support for project claim management on projects.
- Issue early warning / notification of compensation event (CE)/ variation order (VO) as soon as a new event is identified
- Liaise with Legal as required, to ensure adherence to contractual notification and claim requirements
- Compile quotation / claim for cost with input from all disciplines and issue to the Client
- Participate in CE / VO discussions with the Client and incorporate any changes. Once approved, update the various systems to incorporate the approved change.
- Monitor constantly the risks during execution of contract and pro-actively initiate risk mitigation measures
- Consciously build synergies with other departments and disciplines towards achievement of company’s goals
- Prepare ad-hoc reports, presentations and provide the required input and feedback
Minimum requirements for the role:
- You must have 0-2 years work experience
- You Must be a South African citizen
- You must have a valid drivers license
- Basic knowledgeable of project management and of project financial and accounting practices
- Basic understanding of commercial or financial attributes
- PC literate, proficient in standard business office software
- Strong personality and attitude – “go -getter”
- Able to communicate clearly, both written and oral within project teams
- A qualification in financial management, suitable to the level of entry into the Internship programme
- Matric with university exemption, ideally having a Bachelor’s degree in accounting and financial management or equivalent or working towards a suitable tertiary qualification (Final Year)
We are committed to fostering a workforce in each of our locations that reflects the diversity of the communities in which we operate. Hatch is an Equal Opportunity Employer that considers employment applicants without regard to age, race, colour, national origin, citizenship, religion, creed, sex, sexual orientation, marital status, disability or any other protected status. If you have any special needs requirements, please let us know. We will do our utmost to accommodate, in accordance with applicable local legislation.