Senior Cost Manager

About the Role

Parsons Corporation is seeking a Senior Cost Manager to join their team in Riyadh. This full-time role involves working closely with the Client's project, finance, commercial, and delivery teams, as well as coordinating with Delivery Partner management, directors, consultants, contractors, and other stakeholders. The primary objective is to ensure project expenditure aligns with approved budgets, scope, priorities, and overall program objectives.

Key Responsibilities

• Act as a senior cost management advisor to the Client on project CAPEX, budgets, expenditure, commitments, and financial performance.
• Support the establishment, maintenance, and governance of the overall project and program cost baseline.
• Review and validate project budgets, cost plans, estimates, forecasts, and financial assumptions.
• Monitor approved budgets against actual expenditure, commitments, forecasts, and anticipated final costs.
• Provide early identification of potential budget overruns, cost pressures, and financial risks.
• Offer recommendations on cost optimization, budget allocation, and financial risk mitigation.
• Support in maintaining clear visibility of the overall CAPEX position and projected outturn cost.
• Ensure cost information is accurate, consistent, traceable, and aligned with the approved project governance framework.

CAPEX Management and Cost Assurance

• Lead the review and monitoring of project CAPEX throughout the project lifecycle.
• Review CAPEX forecasts, expenditure profiles, commitments, accruals, and anticipated final accounts.
• Establish and maintain CAPEX dashboards and management reporting for leadership and the Client.
• Provide independent cost assurance and challenge to project cost information submitted by contractors and consultants.
• Assess the financial impact of scope changes, design development, schedule changes, procurement strategies, and project risks.

Cost Control, Forecasting, and Change Management

• Review monthly cost reports, cost forecasts, commitments, accruals, and expenditure reports.
• Challenge and validate contractor and consultant cost forecasts in alignment with Senior Commercial Managers.
• Monitor trends and provide forward-looking analysis of the expected final project cost.
• Analyze cost variances and develop corrective and mitigation actions with relevant project teams.
• Review the cost impact of proposed changes, variations, claims, and scope development.
• Provide cost advice before the approval of major changes and variations.
• Assess whether proposed changes are within approved budgets, contingency, or require additional funding.

Client and Stakeholder Coordination

• Work closely with leadership, project directors, finance, commercial, procurement, planning, engineering, and delivery teams.
• Coordinate with the Delivery Partner's commercial, cost, planning, and project management teams.
• Provide clear and concise cost advice to management and the Client.
• Participate in Client governance meetings, cost reviews, investment reviews, and project steering committees as required.
• Coordinate with consultants, contractors, suppliers, and other delivery stakeholders to validate cost information.

Qualifications and Experience

Candidates for this role should possess a minimum of 10 years of experience in cost management. The ability to provide senior cost management leadership within the Delivery Partner organization and establish consistent cost management approaches across project packages is essential. Experience in mentoring Cost Engineers, Quantity Surveyors, and other commercial/cost personnel is also required. The role demands strong analytical skills for identifying and monitoring cost-related project risks and opportunities, and supporting value engineering and cost optimization initiatives.