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Job Description:
Parsons is looking for an amazingly talented Cost Engineer (Saudi National) to join our team! In this role you will get to manage the financial aspects of projects by preparing accurate cost estimates, tracking project costs, forecasting financial needs, and ensuring the project stays within budget. The role requires a strong background in cost management, construction estimating, and budgeting, as well as the ability to collaborate effectively with cross-functional teams. The ideal candidate will possess excellent analytical skills, attention to detail, and a proactive approach to identifying and mitigating financial risks.
What You’ll Be Doing:
Cost Estimation and Budgeting:
Develop accurate cost estimates for all stages of the project, from conceptual design to final delivery, ensuring that all materials, labor, and overhead costs are considered.
Collaborate with project managers, engineers, and other stakeholders to develop detailed project budgets, taking into account the scope of work and resources needed.
Review and analyze project design and scope to ensure the estimated costs are comprehensive and realistic.
Cost Control and Monitoring:
Monitor and track project costs, ensuring that expenditures align with the approved budget.
Provide regular reports to management on the status of project costs, highlighting any variances and recommending corrective actions when necessary.
Establish and maintain cost control systems, ensuring accurate and timely recording of all project costs.
Cost Forecasting and Reporting:
Prepare regular cost forecasts, analyzing project trends to predict potential cost overruns or savings.
Update project cost estimates and budgets as changes or modifications occur, ensuring that any variations in cost are communicated promptly.
Prepare financial reports for senior management and stakeholders, providing insights into the overall financial health of the project.
Change Order Management:
Manage and assess all change orders and their impact on project costs, ensuring that any variations from the original scope are documented and justified.
Work with the project team to ensure that change orders are properly evaluated, approved, and implemented.
Maintain records of all change orders and variations, ensuring proper documentation is available for audits.
Cost Reporting and Documentation:
Maintain accurate records of all cost-related documentation, including invoices, receipts, change orders, and contract modifications.
Prepare and present cost reports, ensuring that they are accurate and aligned with the project’s progress and financial objectives.
Ensure proper documentation of financial transactions for audit purposes and for compliance with company policies.
Contractor and Vendor Management:
Work with contractors and suppliers to ensure that costs align with agreed-upon terms and that procurement processes are efficient and cost-effective.
Review and verify contractor invoices and work progress, ensuring that payments are aligned with the contractual agreements and work completed.
Collaborate with procurement teams to negotiate and assess vendor quotations to ensure the best value for the project.
Risk Management:
Identify potential risks related to cost overruns and work with the project team to mitigate them.
Recommend cost-effective solutions to potential risks, ensuring the project stays on budget.
Monitor changes in project scope, schedule, and design, analyzing their impact on costs and making necessary adjustments to financial plans.
Collaboration with Project Teams:
Collaborate closely with project managers, engineers, and other stakeholders to understand the project requirements and contribute to cost-related decision-making.
Provide technical expertise on cost analysis and budgeting during project planning and execution.
Ensure alignment of financial goals with overall project objectives, proactively identifying opportunities for cost reduction or optimization.
Continuous Improvement:
Continuously review cost management processes and recommend improvements to increase efficiency and cost savings.
Stay updated on industry trends, cost management techniques, and tools to ensure that best practices are implemented.
What Required Skills You’ll Bring:
Bachelor’s degree in Civil Engineering, Construction Management, Quantity Surveying, or a related field.
Minimum of 2 years of experience as a cost engineer, cost estimator, or in a similar financial management role, ideally within construction, infrastructure, or engineering projects.
Strong experience in cost estimating, budget preparation, and cost tracking for large-scale projects.
Familiarity with cost management software (e.g., Procore, Oracle Primavera, CostX) and project management tools
Skills & Knowledge:
Strong understanding of cost estimating principles, techniques, and project cost management processes.
In-depth knowledge of construction contracts, procurement processes, and financial reporting.
Strong analytical skills, with the ability to assess financial data and identify trends, risks, and opportunities.
Excellent attention to detail, organizational, and time-management skills.
Strong written and verbal communication skills, with the ability to present financial information to senior management.
What Desired Skills You’ll Bring:
Professional certifications in cost management or project management (e.g., MRICS, AACE, PMP).
Experience with large-scale construction projects or infrastructure programs.
Knowledge of lean construction practices and their application to cost management.
Ability to work in a fast-paced, deadline-driven environment and handle multiple priorities.
We truly invest and care about our employee’s wellbeing and provide endless growth opportunities as the sky is the limit, so aim for the stars! Imagine next and join the Parsons quest—APPLY TODAY!
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