COST ENGINEER I
SRACO COMPANY
Total years of experience :29 years, 11 Months
Seconded to Saudi Aramco
•Administers one of the Project Management Contractors (PMC) involving the review of all the Prior Approval Forms (PAF), timesheets and invoices issued against each Work Element Release (WER), in reference to and in adherence to Contract provisions.
•Monitors budget for each released job in terms of man-hours and cost.
•Monitors any mischarges against the project.
•Coordinates with various project teams for the preparation of monthly project reports such as Monthly Projects Update (MPU), Budget-Item Summary Report (BISR), Project Planning Update (PPU), and Proposal Budget-Item Summary Report (PBISR) in SAP.
•Checks for each Cost Rackup for each JO under each BI of the division as necessary. Checks all Budget Items’/ Job Orders’ expenditure forecast and commitments/ Cash Flows for each project.
•Reviews and verifies invoices by coordinating with the project engineers and schedulers for the correctness of the monthly Contractor’s Construction Progress Report as the basis of contractors’ invoices.
•Ensures the validity of invoice Cost Breakdown (Design, Materials and Labor) to be entered into the Service Entry Sheets (SES) of each invoice in SAP.
•Supports the individual Project Teams for all Contractor Invoices (GES, Construction and WERs) for payment charged to the project or Net Direct Expenditures (NDE).
•Reviews the final preparation of the SMP man-hours allocation report charged to Projects. Reviews and finalizes the PMT Redistributed Labor charged to projects.
•Reviews and verifies the correctness of Employees’ Expense Reports and Payment Authorization Forms being prepared.
•Prepares the Summary Invoice Accruals of the Project. Ensures that the Journal Entry - Correction of Accounting Charges in WBS are prepared in order to transfer incorrect charges to the appropriate charge account numbers as required.
•Assist employees in the Division of all cost related matters. Prepares other reports/ inputs needed by the Division as required.
•Specialized in Work Element Releases (WERs) Administration from various Project Management Contracts (PMC).
Worked on SADARA Hydrogen Peroxide Project under EPCM Contract
•Monitors the Work Element Release (WER) of the Project. Actual cost are recorded and compared against the budget, and forecast is developed on a monthly basis.
•Checks on contractual compliance of the LSPB Contractor against schedule "C", Schedule "B" and Schedule "H".
•Reviews the PMC WER invoices from the Contractor.
Assigned to work with General Engineering Services Plus (GES+) Projects of Saudi Aramco mainly on Clean Fuels and Aromatic Project, Ras Tanura as the major project.
• Responsible in man-hour monitoring activities with cost and revenue analysis, giving more emphasis on revenue by ensuring that revenue rates per hour of each personnel are contractually in place.
• Setting up working files and go-bys by going almost automated to minimize errors in submitting man-hour reports to client and to Jacobs Management.
• Responsible in ensuring the correct issuance of Prior Approval Forms with correct classification and rates of each personnel being mobilized into the project.
• Involvement in helping management decisions by having the full knowledge of the contract of the project to make sure that the Project Management is in compliance to contractual obligations.
Seconded to Saudi Aramco
Worked at Juaymah Gas Plant Expansion Project, Saudi Arabia with main roles as follows:
• Prepares expenditure forecast and commitments and establishes cash flow for the project;
• Monitors and reviews the project’s actual capital expenditure and makes a comparative analysis against its budget and forecast;
• Develops and prepares a Monthly Project Update and Budget Summary Report by highlighting the Completion Status, Performance Indixes, Financial Status, Expenditure Forecast and major issues and concerns of the project;
• Prepares a monthly Management Information System (MIS) Report which entails the analysis of the project’s non-capital expenditures, manpower and man-hours status, Saudization Report, Contract Milestone Achievements, Value Engineering or Cost-Saving Activities of the project;
• Assists and coordinates with the Planning Analysts in developing the Accountability Report, Business Plan and Operating Plan for the project;
• Maintains Log and Controls of all payments, verifies the contractors’ contractual compliance of their billing, and evaluate the charges based on the Company’s established Work Breakdown Structure (WBS);
• Supports the Project Management Team in developing and monitoring Work Element Releases (WERs) for In-Kingdom (IK) and Out-of-Kingdom (OOK) level of efforts and construction supports.
Project Accountant- Analyzes the project cost and expenses.
The job also includes the reconciliation of of the following:
(1) Accounts Payables and Retention for the project sub-contractors and;
(2) Construction income receipts from the principal contractor.
Additional Jobs:
•Review and maintenance of contracts entered by the company and sub contractors;
•Supervision of withholding and personal income tax and social security payments;
•Review of all suppliers' invoices and preparation of payments;
•Monitoring of payments to sub contractors and suppliers;
•Monitoring and supervision of cash on hand custodian;
•Preparation of monthly bank reconciliation.
The work includes but not limited to handling the company's accounts payable. The work ranges from recording the international and local vendors' invoices, paying such invoices as they fall due, maintenance of suppliers' ledger, and making correspondences with international and local credit administrators.
Responsible for the computation and payment of all employees' benefits and allowances, excluding payroll.
Checks and ensures accurate accounting entries.
Prepares financial statements: balance sheet, income statements, and cash flow.
Ensures compliances with government regulatory reports and requirements.
Reports to the Operation Manager and the General Manager for financial advisory.
Handles up to 15 clients for bookkeeping and financial reports preparation.
Monitors the clients' compliances on government regulatory reports and requirements for local and national taxation.
Finished the degree as a consistent government scholar.