I have extensive experience in cost control, having managed budgets for multiple large-scale projects. My approach involves meticulous tracking of expenses, regular forecasting, and proactive risk management to ensure that projects stay within budget. I utilize software tools like SAP and Excel for detailed financial analysis and reporting, which helps in identifying potential cost overruns early and taking corrective actions.

Ensuring accuracy in cost estimation and tracking involves a combination of thorough research, historical data analysis, and cross-functional collaboration. I validate estimates with subject matter experts and use project management software to monitor actual vs. budgeted costs in real-time. Regular audits and reviews also help in maintaining accuracy and identifying any discrepancies promptly.

To manage cost variances, I implement a robust change control process that includes detailed impact analysis and stakeholder communication. I also prioritize resource allocation based on critical path activities and negotiate with vendors for better rates. Additionally, I conduct regular variance analysis meetings to discuss deviations and implement corrective measures swiftly.

Handling cost overruns involves immediate identification and root cause analysis to prevent further escalation. I work closely with the project team to re-prioritize tasks, seek alternative solutions, and optimize resource usage. In cases of budget constraints, I advocate for additional funding if justified or propose cost-saving measures without compromising project quality.

In a previous role, I managed a project with significant scope changes and tight deadlines. By implementing a detailed cost tracking system and conducting weekly cost reviews, I was able to identify and mitigate potential overruns. I also negotiated better terms with suppliers and reallocated resources efficiently, resulting in the project being completed 10% under budget while meeting all quality standards.