Project Cost Control Specialist

About the Role

Parsons is seeking a Project Cost Control Specialist to join its team in Riyadh, Riyadh. This full-time role involves supporting project cost-control activities by maintaining budgets and forecasts, monitoring financial performance, analyzing cost variances, and delivering accurate reports to support effective project decision-making.

Key Responsibilities

• Monitor project budgets, allowances, commitments, expenditures, actual costs, change orders, and forecasts.
• Establish baseline budgets for resources, revenue, and costs using an appropriate Work Breakdown Structure (WBS) in coordination with the Project Manager.
• Analyze project performance against approved baselines, identify cost variances, and coordinate corrective actions with the Project Controls Manager.
• Apply Earned Value Management (EVM) principles and calculate and report Earned Value (EV), Estimate at Completion (EAC), and Estimate to Complete (ETC).
• Prepare and update weekly and monthly cost reports, financial status reports, dashboards, spreadsheets, management reports, and project-review presentations.
• Maintain program-level cash-flow forecasts using historical data and trends to support accurate planning and forecasting.
• Track labor, subconsultant, consultant, and other project-related costs, including actuals, commitments, expenditures, and forecasts.
• Review subcontractor and consultant payment applications and coordinate monthly invoicing activities.
• Support billing and collection activities, including invoice preparation and stakeholder coordination.
• Maintain purchase-order, contract, change-order, issue, and cost-control trackers.
• Participate in monthly and quarterly project reviews and support the project team in explaining cost variances and preparing justifications.
• Support the Project Director in reviewing and finalizing the business plan.
• Coordinate with relevant departments to ensure project costs are correctly charged and accurately reflected within the cost-control function.
• Support Senior Project Control Engineers and Project Controls Managers in developing and maintaining project budgets and forecasts.
• Perform other responsibilities associated with the position, as appropriate.

Qualifications and Experience

• CAF/ACCA qualification or a bachelor’s degree in Finance or a related field. Equivalent relevant experience may also be considered.
• Minimum of 10 years of experience in project finance, cost control, or a related project-support role.

Required Skills

• Strong knowledge of cost control, budgeting, forecasting, invoicing, financial reporting, change management, commitments, actual costs, labor costs, and cost reporting.
• Advanced Microsoft Excel skills, including formulas, lookups, PivotTables, and charts.
• Proficiency in the Microsoft Office suite.
• Basic working knowledge of Power BI.
• Strong analytical, data-reconciliation, organizational, and attention-to-detail skills.
• Excellent English communication and presentation skills.
• Effective stakeholder-management and cross-functional coordination skills.
• Ability to follow established procedures, meet reporting deadlines, and work effectively with Project Managers, project teams, design discipline leads, and Project Controls personnel.

Desired Attributes

• Strong practical understanding of Earned Value Management (EVM) and project performance measurement.
• Experience developing and maintaining project budgets, forecasts, and cash-flow projections.
• Experience supporting project reviews and preparing management-level cost reports and dashboards.
• Ability to identify, analyze, and clearly communicate cost and forecast variances.
• Strong coordination skills when working with project management, finance, consultants, subcontractors, and other project stakeholders.

Application Process

Interested candidates are encouraged to apply. Salary details will be discussed during the interview process.