Cost Control Engineer

ASMACSKSA Contracting Est; Al Khobar, Dammam; On-site; SAR 100,000 - 140,000; Full time

Job summary

A leading contracting company based in Al Khobar is seeking a Cost Control Engineer with a minimum of 5 years of experience in EPC projects. The role involves budget management, financial reporting, and collaborating with planning engineers to ensure accurate forecasts and invoicing plans, nestled in a dynamic project environment.

Qualifications

• Minimum 5 years of experience as a Cost Control Engineer in EPC projects.
• Strong understanding of cost control principles and financial management systems.
• Experience in budget management, accrual accounting and financial forecasting.

Responsibilities

• Review and approve purchasing requests against budget allocations.
• Prepare monthly forecasts and coordinate with estimation team.
• Validate schedule feasibility against budget constraints.

Skills

Financial management

Cost control principles

Budget management

Accrual accounting

Financial forecasting

Analytical skills

Detail-oriented

Multi-discipline coordination

Tools

Oracle

SAP

Job description

Upload approved budgets to Oracle following estimation team handover

- Review and approve purchasing requests against budget allocations

- Prepare budget change requests when required

- Review monthly project accruals for subcontracting and service providers

- Maintain provisions for accruals before month closing

- Review manpower timesheets with planning engineers before system upload

- Prepare monthly three-month cost forecasts

- Coordinate with estimation team on near-term forecast considerations

- Report revenue declaration compared to planned revenue

- Update invoice plans based on actual progress

- Calculate and report unbilled revenue

- Ensure all declared revenue is supported by appropriate documentation

- Collaborate with planning engineers to align physical and financial progress reporting

- Prepare financial progress sections of project reports

- Present financial status and forecasts at Monthly Progress Review meetings

- Utilize planning outputs to prepare revenue forecasts and invoicing plans

- Validate schedule feasibility against budget constraints

- Participate in handover meetings for high-value projects

Desired Candidate Profile

Minimum 5 years of experience as a Cost Control Engineer in EPC projects

- Proficient in financial management systems (e.g., Oracle, SAP)

- Strong understanding of cost control principles in EPC project environments

- Experience in budget management, accrual accounting, and financial forecasting

- Demonstrated ability to analyze cost variances and recommend corrective actions

- Experience in revenue recognition and earned value management

- Strong analytical and quantitative skills

- Excellent attention to detail and accuracy in financial reporting

- Experience in multi-discipline coordination within EPC environment

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