Cost Estimation📣 Job Ad

About the Role

Palace Consulting Engineers is seeking a Cost Estimation professional to join their team in Riyadh. This full-time position requires a candidate with 5-10 years of experience in cost estimation and related fields.

Key Responsibilities

• Lead the collection of cost data and preparation of project cost estimates and breakdowns, ensuring accuracy and alignment with project scope to support effective budgeting and decision-making.
• Develop economic models for evaluating cost estimates to provide a detailed analysis of financial impacts and optimize budget allocation, ensuring cost-effectiveness and alignment with overall project objectives.
• Monitor market prices for labor, equipment, materials, and other cost factors to ensure up-to-date and accurate cost estimates, facilitating informed budgeting and cost control.
• Evaluate the cost implications of required project software and IT applications to support effective budgeting and align technology expenses with project objectives.
• Contribute to tendering and bidding processes by ensuring cost estimates align with tender requirements to deliver accurate bids that enhance contract success and profitability.
• Lead the analysis of recent bids to update pricing data and maintain a comprehensive database, contributing to precise cost estimates and competitive bids that enhance contract success and profitability.
• Ensure that all cost estimates comply with local regulations, standards, and industry practices, facilitating legally sound and credible estimates that support successful project execution.
• Coordinate with the Feasibility Study and Scoping teams to ensure that cost estimations are aligned with the project scope and feasibility assessments.
• Monitor and evaluate lessons learned from cost estimation processes to enhance future methodologies and improve accuracy, ensuring continuous improvement and more reliable budgeting for future projects.
• Collaborate with project managers, engineers, and procurement teams to gather information and ensure cost estimates align with project goals and limitations, enhancing estimates to achieve accurate outcomes and support project success.

Qualifications and Experience

• Bachelor's degree in Engineering (Electrical is preferred).
• Minimum of 8 years of experience in Cost Estimation, Budgeting, or a related field.

Required Skills

• Leadership skills.
• Strategy and business planning skills are required.
• Management or leading level experience is considered a plus.

Work Location and Type

This is a full-time position based in Riyadh.