JPI · 2 days ago
Cost Manager (Commercial Lead)
Dallas, TX
Full-time
Onsite
Mid Level
3+ years expJPI is a prominent real estate developer and builder with over 35 years of experience, dedicated to creating exceptional multifamily communities. The Commercial Lead will oversee subcontractor contracts and manage the project lifecycle, ensuring effective administration of agreements and financial forecasting.
Real Estate
Responsibilities
Review and Validate SOW's and SOV's for each trade
Interview and Validate capabilities of each subcontractor
Set Up issuance of contracts on schedule
Responsibility to Meet all deliverables per timelines per the project startup checklist
Uploading ALL Contract Documents to Commitments in Procore
Uploading Trade Partner SOV into Procore Commitments
Uploading the Project Budget from the GMP with WBS and Non-WBS cost codes
Creating and updating a contract tracking device for executed contracts
Coordinate with Technical Project Lead on validation of a change order
Verify change order costs are accurate and valid
Review change order draft and submit for review
Create descriptive and well documented change orders for trade partners for scope gaps, additional work, owner value adds, etc
Send approved change orders through DocuSign for final execution and ensure the change orders are integrated with ERP and added to GC pay
Create, send and manage Owner PCO's. Manage Logs for Allowances and Weather
Updating Project direct costs to the Procore budget
Forecasting and Updating GC's monthly in accordance with the direct costs
Forecasting additional dollars based on past project data for each cost code after contract
Creating accurate bi-weekly budget snapshots
Create Job Specific close out template
Ensure all subcontractors are 100% paid, retainage included for each job
Ensure all PO's are closed out for the project
Verify that all lien waivers have been received
Ensure that future billings are cut-off from being billed to the project
Manage the warranty, O&M, as-builts and Procore documentation is uploaded by the milestone-validation lead
A minimum of 3 subcontractors per trade have submitted a SOW and a SOV bid for the project. The Commercial Lead is to validate, assess, negotiate and award subcontracts. The agreed upon Contract Documents (JPI boiler plate, Exhibits A-F, insurance requirements) are submitted to the Commercial specialist and then sent to the Commercial Manager for signature. After the contract is executed, the Commercial Lead will update the buyout log. An executed contract allows the Commercial Specialist to reach out for submittals
Executed contract documents are provided by the Commercial specialist and uploaded to the commitment tool in Procore (JPI boiler plate, Exhibits A-F, insurance requirements, SOV)
The Project GMP is received from the Cost Lead and Budgeting Manager along with a detailed breakdown of costs. The GMP is then accurately uploaded into the Procore Budget tool. The Procore budget allows executed contracts to be uploaded into commitments to begin the Procore budget, commitment and change order record
The Project GMP is received from the Cost Lead and Budgeting Manager along with a detailed breakdown of costs. With the GMP the CL is to create the buyout log. The buyout log should be updated by the CL with LOIs, COIs, and contracts as they are initiated and executed, including budget versus contract amounts. This log will reflect contract execution timelines and the completeness of contract documentation. It enables the Construction Manager and Resource Lead to start pre-construction meetings with the trades awarded the project
RFI's will generate subcontractor change orders. The CL validates pricing of the change order and receives feedback from the Resource Lead on the subcontractor change order reason. The CL creates the change order through Procore with proper description and documentation for review and approval by the Commercial Manager. After approval and execution of the change order the CL ensures the change order is uploaded to GC Pay for billing. This allows the subcontractor to bill for approved change order work
RFIs, weather days, design changes, and similar factors will lead to the generation of owner change orders. The Commercial Lead (CL) validates the pricing of these change orders and obtains feedback from the Resource Lead regarding the reason for the change order. The Resource Lead provides justification and documentation for the costs absorbed by the owner. The CL then creates the change order in Procore, including a detailed description, supporting documentation, and construction fees, for review and approval by the Development Lead. Once the owner change order is approved, the subcontract change order can be issued to authorize and document the work to be completed
Owner allowances are defined at the start of a project as part of the GMP budget. These allowances represent agreed-upon funds within the budget between the General Contractor (GC) and the Owner, designated for specific cost codes and issues. When a change order arises for a specific cost code associated with the owner allowance, the subcontractor change order (CCO) will be processed. Additionally, a $0 PCO for the owner allowance must be initiated to track expenditures against the budget. This process enables the subcontractor to continue their work, while the owner will approve a monthly reconciliation of the amounts spent from the allowances
Weather conditions are recorded and monitored in the daily logs by the Site Construction Manager. The Resource and Technical Project Lead assesses delay days and critical path items to quantify the weather days that impacted the project schedule. An owner change order is then generated to adjust the project schedule and budget, compensating for the lost weather days
The project closeout template is developed by the Commercial Lead and the Milestone Validation Lead. The Commercial Lead will detail the financial aspects, including subcontractor payment application balances, retainage balances, lien waivers and any open purchase orders or invoices. The Milestone Validation Lead is responsible for managing subcontractor warranty letters, O&M letters, as-built drawings, and Procore closeout documentation. Both leads collaborate closely to ensure that financials are fully settled, and all documentation is accurately uploaded and completed to finalize the project
The direct costs are tracked through Workday payroll, supplier PO's, etc. Supplier PO's are created and managed by the CL. Updating the Procore budget with the direct costs allows the CL to properly forecast the GC/GR's
Direct costs are uploaded to the Procore budget to reflect the data from Workday. The CL utilizes these direct costs to forecast GC/GR's based on current costs associated with each cost code and the project's projected duration. A detailed explanation and breakdown of the GC/GR must be included in the forecast descriptions within the Procore budget. Once bi-weekly forecasts are complete a budget snapshot is taken and reviewed by the CM. This forecasting process enables the team to view budget projections based on the current project duration and staffing levels, allowing Development Managers and the Executive Leadership Team (ELT) to assess projected costs and potential savings throughout the project
Buyout Log
Contract Template
Procore Commitments Tools
SOW/SOV Templates
DocuSign Signing Order for contracts and change orders
Initiation Sheet / LOI Templates
Workday PO SOP
Allowance Log Template SOP
Weather Log Template SOP
Change Order Log Template (CCO, PCO, PCCO)
Procore Budget Tool (Budget snapshots)
Uploading Direct Cost SOP
Procore budget Forecast Training
Close out template
Qualification
Required
Bachelor's degree in related field or equivalent experience
3-5 years' experience in a business or professional setting (inclusive of non-profit or government roles)
Proven experience in an executive support role or similar position
Excellent organizational and leadership skills
Strong interpersonal and communication abilities
Proficiency in using business software and tools, including MS Office and project management applications
Ability to handle confidential information with discretion
Benefits
Competitive Bonus Program
4 Weeks PTO for All New Associates (Pro-Rated by Hire Date)
11 Holidays and 8 Early Release Days
Medical, Dental, Vision, and Life Insurance
401(k) with Company Match (Up to 5% Match)
Health Savings Account
Flexible Spending Accounts (Dependent & Medical Reimbursement)
Paid Parental Leave
Paid Volunteer Time
Tuition Assistance
Phone Reimbursement
Associate Referral Bonuses
Company
JPI
JPI is a leading development and construction company with a mission to transform building, enhance communities and improve lives.
201-500 employees
Funding
Current Stage
Growth StageTotal Funding
$80MKey Investors
Dekel Capital
2023-10-02Acquired
2019-08-19Debt Financing· $80M
Leadership Team
Payton Mayes
Chief Executive Officer
Mollie Fadule
Chief Financial & Investment Officer
Recent News
The Business Journals
2024-12-28
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