Cost Engineer📣 Job Ad

Cost Engineer, Tabuk

Parsons Corporation is seeking a Cost Engineer to join its team in Tabuk, Saudi Arabia. This full-time role involves supporting project cost planning, budgeting, forecasting, and control throughout the project lifecycle for major infrastructure and construction projects.

Role Overview

The Cost Engineer plays a key role in ensuring accurate cost monitoring, analysis, and reporting. This position supports effective project delivery, financial performance, and informed decision-making. Responsibilities include managing change and providing comprehensive financial reporting from project inception to completion.

Key Responsibilities

• Support the development and maintenance of project budgets, cost plans, estimates, and cost control baselines.
• Monitor project costs, commitments, expenditures, accruals, forecasts, and approved budgets throughout the project lifecycle.
• Track budget utilization and identify potential cost variances, trends, and financial risks.
• Assist in preparing cost estimates, cash flow forecasts, expenditure plans, and project funding requirements.
• Maintain alignment between project scope, Work Breakdown Structure (WBS), schedules, and cost data.
• Prepare periodic cost reports, dashboards, financial summaries, and project performance reports.
• Perform cost variance analysis and identify cost trends, risks, opportunities, and recommended corrective actions.
• Support the preparation of Estimate at Completion (EAC) and Estimate to Complete (ETC) forecasts.
• Maintain accurate cost records, supporting documentation, and reporting databases.
• Support the evaluation of design changes, variations, scope modifications, and change requests.
• Review contractor quotations and variation submissions from a cost engineering perspective.
• Maintain change registers, variation logs, and cost tracking records.
• Assist in preparing cost impact assessments, commercial evaluations, and management recommendations.
• Coordinate with Planning, Commercial, Procurement, Engineering, Finance, and Project Controls teams to ensure consistent project cost reporting.
• Support Earned Value Management (EVM) analysis and cost performance measurement.
• Participate in project reviews, progress meetings, cost workshops, and commercial discussions.
• Assist in identifying project cost risks and support the development of mitigation strategies, including contingency monitoring and risk-based forecasting.
• Contribute to value engineering and cost optimization initiatives to improve project performance.
• Support project audits, financial reviews, governance activities, and compliance requirements.
• Assist with final account preparation, project closeout reporting, and financial reconciliation.

Required Qualifications and Experience

• Bachelor's Degree in Engineering, Quantity Surveying, Construction Management, Cost Engineering, Finance, or a related discipline.
• Minimum 3–5 years of experience in Cost Engineering, Project Controls, Quantity Surveying, Commercial Management, or related disciplines.
• Experience supporting large-scale construction, infrastructure, industrial, or capital projects.
• Proficient knowledge of Cost Control, Budget Management, Cost Estimating, Forecasting, Cost Reporting, Change Management, and Cash Flow Analysis.
• Experience monitoring project costs, commitments, expenditures, and forecasts.
• Knowledge of project budgeting, cost planning, and financial reporting principles.
• Familiarity with Earned Value Management (EVM) principles and project controls methodologies.
• Experience maintaining cost records, change registers, and commercial documentation.
• Strong analytical, numerical, and problem-solving skills with excellent attention to detail and accuracy.
• Proficiency in Microsoft Excel and Microsoft Office applications.
• Strong written and verbal communication skills.
• Ability to work effectively with multidisciplinary project teams and stakeholders.
• Strong organizational and time-management skills with the ability to manage multiple priorities.

Desired Skills and Attributes

• Experience working within PMC, EPC, Delivery Partner, or client-side project environments.
• Knowledge of Primavera P6, Primavera Unifier, Oracle Primavera Cloud, SAP, Power BI, or similar project controls platforms.
• Familiarity with FIDIC contracts and commercial management practices.
• Knowledge of risk management, contingency planning, and value engineering principles.
• Experience preparing executive dashboards and business intelligence reports.
• Professional certification such as AACE Certified Cost Professional (CCP), PMP, or MRICS is an advantage.
• Strong stakeholder management skills.
• Ability to identify cost-saving opportunities and support continuous improvement initiatives.

About Parsons Corporation

Parsons Corporation operates with a leadership vision focused on valuing people, embracing agility, and fostering growth. The company cultivates an innovative culture that supports professional development and achievement of potential. Parsons is committed to delivering effective solutions across its projects.