Cost Engineer (Saudi National)📣 إعلان

About the Role

Parsons Corporation is seeking a highly skilled Cost Engineer (Saudi National) to join its team in Riyadh, Saudi Arabia. This full-time position is crucial for supporting the planning, monitoring, control, and reporting of project costs across significant Airport, Infrastructure, and Airfield projects. The Cost Engineer will ensure that all project costs, commitments, variations, forecasts, and commercial changes are accurately tracked and reported against the approved budget and project baseline. This role requires close collaboration with Commercial, Contracts, Planning, Procurement, Engineering, Construction, Project Controls, Finance, Contractors, and Client teams to maintain effective cost control and provide clear financial visibility to project management.

Key Responsibilities

• Monitor and control project costs against the approved budget and maintain accurate cost reports and control systems.
• Track actual costs, commitments, accruals, forecasts, and budget movements, preparing regular cost reports for Project and senior management.
• Maintain the Project Cost Breakdown Structure (CBS) and monitor costs by package, discipline, workstream, and project area.
• Track commitments, actual expenditure, and approved/pending Variations / Change Orders.
• Assess cost impacts of design changes, Client instructions, and other project modifications.
• Support the preparation of cost estimates and forecasts, identifying cost trends, risks, and potential overruns, and providing early warnings on budget impacts.
• Coordinate with Commercial and Contract teams regarding claims and variations, and reconcile cost reports with Finance and Commercial records.
• Support monthly project cost forecasting and reporting activities.

Cost Control and Reporting Functions

The Cost Engineer will establish and maintain robust cost control procedures, ensuring comprehensive monitoring and accurate reporting across all project phases. This includes:

• Monitoring approved budget, actual cost, committed cost, accrued cost, forecast cost, remaining cost, variations, contingency, and potential changes.
• Reviewing cost performance against approved budgets, identifying cost variances, investigating their causes, and preparing variance analysis with management commentary.
• Preparing monthly cost forecasts, maintaining Estimate at Completion (EAC) and Estimate to Complete (ETC), and identifying forecast movements and cost risks.
• Assessing potential cost exposure from outstanding changes and claims, and coordinating with Planning and Commercial teams to align cost and schedule forecasts.
• Preparing weekly and monthly cost reports, maintaining cost dashboards, and presenting cost status and trends to Project Management.

Project Integration and Risk Management

This role involves managing variations and changes, integrating cost data with broader project controls, and proactively identifying and mitigating financial risks. Key tasks include:

• Maintaining the project Variation / Change Register, reviewing cost impacts of client instructions and design changes, and preparing cost estimates for variations.
• Reviewing Contractor variation submissions, validating quantities, rates, resources, and supporting documentation, and coordinating with Contracts and Commercial teams on assessments.
• Monitoring the financial impact of approved and pending changes, ensuring they are reflected in project forecasts.
• Reviewing Contractor and Subcontractor payment applications, monitoring commitments and contractual values, and supporting assessment of progress payments.
• Coordinating closely with Planning Engineers and Project Controls teams to integrate cost information with project schedule and progress data, supporting Earned Value Management (EVM) where applicable.
• Monitoring procurement commitments against approved budgets, tracking long-lead equipment and major procurement packages, and identifying procurement cost risks.
• Identifying potential cost risks and opportunities, quantifying their impacts, supporting mitigation strategies, and escalating significant cost risks to management.

Qualifications and Experience

Candidates for this position should meet the following requirements:

• Must be a Saudi National.
• A minimum of 5-10 years of professional experience in cost engineering, preferably within large-scale infrastructure or airport projects.
• Demonstrated strong understanding of project cost control principles and methodologies.
• Proficiency in relevant cost reporting systems and software.
• Ability to work collaboratively within multidisciplinary project teams and communicate effectively with various stakeholders.

Location and Work Type

This is a full-time position based in Riyadh, Riyadh, Saudi Arabia.