Lead Engineer Budget & Cost Control📣 Job Ad

About the Role

Al-Ayuni Investment and Contracting Company is seeking a Lead Engineer for Budget & Cost Control to oversee all budget and cost control activities for mega construction projects in Riyadh. This full-time position requires a professional with 5-10 years of relevant experience to ensure effective financial management and alignment with project objectives.

Key Responsibilities

• Lead the planning, monitoring, analysis, and control of project costs throughout the project lifecycle.
• Develop and implement project cost control plans, procedures, systems, and reporting tools.
• Monitor project budgets, ensuring compliance with approved cost baselines and performance targets.
• Review and evaluate all change requests, variations, and claims, assessing their financial impact and schedule implications.
• Lead change management activities related to cost, including the evaluation of claims and variations.
• Monitor and analyze fixed and variable costs, highlighting deviations and recommending corrective actions.
• Coordinate with project teams to optimize manpower and equipment utilization and improve productivity.
• Review direct and indirect cost allocations to ensure accuracy and cost efficiency.
• Prepare and update monthly cost reports, forecasts, cash flow projections, and annual budget estimates.
• Identify, analyze, and report cost variances, risks, and trends, proposing preventive and corrective measures.
• Compare actual procurement and execution costs against approved estimates and feasibility studies.
• Coordinate with Project Managers regarding schedules, work progress, claims, and their impact on project costs.
• Liaise with the Finance Department to ensure the availability of accurate and up-to-date cost data.
• Ensure all project expenditures, invoices, and claims are properly reviewed, verified, and recorded in Oracle ERP.
• Develop and enhance cost control systems, procedures, and reporting methodologies.
• Maintain and update cost databases and project performance dashboards.
• Ensure timely submission of all cost reports and provide management with early warnings on financial risks and potential overruns.
• Monitor manpower and equipment productivity on-site and issue performance analysis reports.
• Mentor and support junior cost control team members to ensure continuous improvement and knowledge transfer.

Qualifications and Experience

• Bachelor's Degree in Engineering or Construction Management.
• PMP (Project Management Professional) Certification is mandatory.
• Additional certifications in Cost Engineering or Project Controls will be an advantage.
• Minimum of 10 years of relevant experience in Budget and Cost Control within mega construction projects.
• Minimum of 5 years of hands-on experience in Change Management, including variations and claims management.
• Proven experience in large-scale infrastructure, building, or EPC projects.
• Strong experience in cost forecasting, budgeting, and project financial reporting.
• Practical experience in Oracle ERP is mandatory.

Work Location and Type

This is a full-time position based in Riyadh. The role involves overseeing cost control for mega construction projects.