Cost Engineer

About the Role

Dar Al Riyadh Consultants is seeking a Cost Engineer to join their team in Yanbu. This full-time role involves managing project costs, contracts, and financial reporting to ensure projects remain within budget and comply with contractual obligations. The ideal candidate will have over 10 years of experience in cost engineering.

Key Responsibilities

• Develop and maintain project budgets, cost estimates, and forecasts.
• Monitor project expenditures to ensure adherence to approved budgets.
• Analyze and report on cost variances, recommending corrective actions as needed.
• Prepare monthly cost reports and financial statements for stakeholders.
• Prepare, review, and negotiate contracts, subcontracts, and change orders, ensuring compliance with terms and conditions.
• Manage contract documentation, including bid proposals, agreements, and modifications.
• Evaluate contractor performance and facilitate the resolution of contract disputes.
• Identify potential cost and contract risks, developing and implementing mitigation strategies.
• Conduct risk assessments and provide recommendations to the project management team.
• Coordinate with procurement teams for the timely acquisition of project materials and services.
• Evaluate bids and proposals to ensure cost-effectiveness and compliance with project requirements.
• Implement and maintain project cost control systems and procedures.
• Track project progress and ensure alignment with financial objectives.
• Provide input for project scheduling and resource allocation.
• Liaise with clients, contractors, and other stakeholders to ensure effective communication and project alignment.
• Prepare and present cost and contract reports to clients and senior management.
• Maintain accurate and up-to-date project cost records and documentation.
• Ensure timely and accurate reporting of project financials.

Qualifications and Experience

• A minimum of 10 years of experience in a Cost Engineer role or similar capacity.
• Demonstrated ability to develop and manage project budgets and cost forecasts.
• Proven experience in contract negotiation and management.
• Strong analytical skills for cost variance analysis and risk assessment.

Required Skills

• Proficiency in cost control systems and financial reporting.
• Excellent communication and interpersonal skills for stakeholder engagement.
• Ability to manage multiple tasks and priorities effectively.
• Attention to detail in maintaining accurate financial records and documentation.

Work Environment

This is a full-time position based in Yanbu, Saudi Arabia, within a professional consultancy environment.

Application Process

Candidates who meet the specified qualifications are encouraged to apply for this role. Salary details will be discussed during the interview process.