what is a project controller?
As a project controller, you work with project managers to ensure each project runs smoothly. Once you understand the goals of a project, you determine a financial plan and schedule and monitor them throughout the duration.
If a project deviates from the initial plan, you provide guidance about getting it back on track. It's primarily an advisory role yet an essential one, which helps ensure both scheduling and finances go as anticipated.
As a project controller, you work in a range of industries, and it’s typically advisable to have some knowledge about the industry in which you’re involved. For instance, if you’re working in construction, knowledge about that industry and how it operates is recommended. If you work in information technology (IT), you should understand how the IT industry operates to provide the best advice.
Although being a project controller is an advisory role, you require a range of skills to perform diverse tasks. Finance knowledge is vital, and you should also know how to use various computer programs that allow you to track and monitor the finances or schedules of the project. Your job also requires you to complete budgets and reports. Clear written and verbal communication is necessary, as these skills enable you to properly express your findings.
Would working as a project controller suit your financial knowledge and project management skills? Then read on to find out what competencies and qualifications you need to thrive in a project controller role.
project controller jobsaverage project controller salary
According to Job Bank, the average salary of a project controller in Canada is $121,783 per year. That translates to an hourly rate of $62.45. If you are new to the role, you start with a lower salary of $100,000 per year. However, your earnings increase gradually, and you can take home over $126,200 per year.
what factors affect the salary of a project controller?
As a project controller, your earnings fluctuate based on your qualifications and other external factors, such as the company and industry you work in. When you have a few years of experience, you earn a lower salary. As you build your experience and improve your qualifications, you can negotiate a higher salary.
The industry you work in influences your earnings. For instance, working in construction companies improves your salary due to the complexity of the projects and the large budgets. IT project controllers also take home higher salaries since they work in high-revenue companies.
The size of the company also determines your earnings. When you work in a small company, you handle smaller projects that require minimal expertise. In a large company, you work on significant projects. Besides, the additional resources improve your earning prospects.
types of project controllers
Project controllers can specialize in different business sectors, including:
- construction project controllers: as a construction project controller, you work with construction project managers to manage resources in construction projects. You monitor financial resources and keep track of expenses to ensure projects stick to the budget.
- IT project controllers: as an IT project controller, you work in IT companies, assisting with budgeting and monitoring project costs. You prepare financial reports and recommend cost management solutions for projects.
- marketing project controller: you work with marketing teams to plan and execute marketing campaigns. Your job is to create budgets and monitor the costs associated with budgets.
working as a project controller
Working as a project controller is a challenging and rewarding career. Each project is different, allowing for versatility in many capacities from one project to the next. Read on to learn what you can expect when you work in this field.
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what does a project controller do?
Some of the tasks associated with the role include:
- coordinating the progress of projects: as a project controller, you evaluate the progress of a project and compare the actual state with the desired state. You track and coordinate the day-to-day activities of projects to ensure they are on track. Your duties also involve monitoring the cost against the budget and ensuring invoices are paid on time.
- ensuring resource availability: as project controller, you determine the resources required for a project and ensure availability. You keep track of the available resources in real time and place orders to avoid delays. Aside from ensuring raw material availability, you also keep track of human resources (HR). You coordinate with the HR department to ensure the project has skilled workers and recommend training to improve productivity.
- preparing progress reports of the project: as a project controller, you prepare status reports with insights on the project's progress. You also compile reports and monitor and track project cash flows. For instance, you compare the budgets and report any deviations. You also submit financial analysis reports for management review.
- monitoring all aspects of project finances: as a project controller, your knowledge of financial management is useful for managing project accounting. Your duties range from billing clients for services to collecting payments and keeping records of financial transactions associated with the project.
- monitoring contract compliance: as a project controller, you ensure the company meets its contractual obligations. You work with suppliers and contractors to ensure they fulfil their contracts. You also recommend changes to be made to ensure compliance with the contracts.
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work environment of a project controller
As a project controller, you typically work in an office. Considering the overall tasks of the job, it may be possible to work remotely as a project controller. However, you must be committed to staying in communication with the project manager and other team members. Although this job usually doesn't require travel, it's a possibility depending on the project, especially in a large project on which many offices are working together and the project's home base isn't local.
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who are your colleagues?
Depending on the industry you work in, you interact with various professionals. In IT, you work alongside software developers, IT technicians and software engineers. When you work in construction, you work with construction project managers, site managers and site administrators. Other professionals you are likely to interact with include office managers, operations managers and financial controllers.
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project controller work schedule
Project controllers typically work a full-time schedule on weekdays during standard office hours. However, if a project is falling behind schedule or something happens on the project that may severely affect its timeline or budget, you work overtime to solve the problem.
If the project has an exceptionally tight deadline, you may also go to the office during non-standard business hours, such as on the weekend. This is to ensure everyone works together as a team to get the project done by its anticipated completion date.
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career opportunities as a project controller
Considering how integral project controllers are to getting projects done on time and below budget, there's an excellent chance of a positive job outlook. However, the need for project controllers varies between industries, such as construction and technology, and how well each industry is doing.
If there is a particular industry that interests you, it’s important to pay attention to the job outlook for that specific sector. This can provide valuable insight as to what you might expect for the future and your role as a project controller.
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advantages of finding a job as a project controller through randstad
Working with Randstad offers you a range of benefits.
- Always a contact person you can fall back on and ask for help from
- Many training opportunities
- A range of jobs in your area
project controller skills and education
Some of the educational requirements for becoming a project controller include:
- bachelor’s degree: to become a project controller, you require a related university degree. Pursue a bachelor's degree in a finance-related field, such as business administration, economics or finance. To work in some industries, you require industry expertise. For instance, to work in construction or IT, you need some knowledge of construction or information technology.
- work experience: you require work experience to start your career as a project controller. Gain experience through entry-level positions in accounting or finance. Despite working on projects, you specialize in cost management and finances. You require accounting or professional finance designations, such as Chartered Professional Accountant (CPA), Certified Internal Auditor or Certified Management Accountant (CMA).
competencies and characteristics of project controllers
Some of the qualities and skills required for project controllers include:
- communication skills: as a project controller, you work and collaborate with various professionals. You require good communication skills to interact with other workers. Good communication skills also help you explain complex project aspects in simple terms.
- team management skills: as a project controller, you work with a team of accountants and finance assistants. You require team management skills to align the individual tasks of the team with the company goals. You evaluate performance, mediate conflicts and delegate tasks effectively. Good team management skills help you coach workers and improve the skills of team members.
- organization skills: as a project controller, you have numerous tasks and responsibilities. Your organizational skills help you ensure smooth operation by breaking down complex tasks and prioritizing work.
- cost control: as a project controller, your primary role is to control the costs of a project. Your knowledge of cost control helps you prepare budgets and maintain the expenses of the company.
FAQs
Here, you will find the answers to the most frequently asked questions about the profession of a project controller.
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what does a project controller do?
As a project controller, you work with the project manager and the project team to define the goals and objectives. You create the work schedules for the projects and assign tasks. Other duties include maintaining project costs by ensuring the team doesn't deviate from the budget created. You analyze the progress of the project and prepare reports.
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how much do project controllers make in Canada?
The average salary of a project controller in Canada is $121,783 per year. The earnings vary depending on experience and qualifications. You start with a salary of $100,000 per year, but with experience, your earnings increase to over $126,200 annually.
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is project controller a good career?
Working as a project controller is a promising career with multiple opportunities for growth. Your knowledge of financial management prepares you for executive positions in the company, like finance director or chief operations officer (COO).
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what qualifications do you need to be a project controller?
To work as a project controller, you require at least a bachelor's degree in business administration, finance or accounting. Sometimes, you may also need knowledge of the specific industry you work in, like information technology or construction.
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how do I find a job as an engineer?
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