Cost Engineer

DAR AL RIYADH; Medina; On-site; SAR 420,000 - 650,000; Full time

Job summary

DAR AL RIYADH is seeking a senior cost management professional to oversee budgets, cost reporting, and contract administration for complex construction projects in Saudi Arabia. The role requires strong analytical skills, negotiation ability, and expertise in cost control and procurement.

The successful candidate will work within a PMC environment, coordinating with clients and contractors to ensure financial alignment with project objectives and contractual terms.

Qualifications

• Bachelor's degree in engineering, construction management, quantity surveying, or related field.
• Minimum of 10 years of experience in cost management and contract administration in construction/engineering, preferably PMC.

Responsibilities

• Develop and maintain project budgets, cost estimates and forecasts.
• Monitor expenditures and ensure costs stay within approved budgets.
• Prepare monthly cost reports and financial statements for stakeholders.
• Prepare and negotiate contracts, subcontracts and change orders.

Skills

Cost management

Contract administration

Financial reporting

MS Excel

Primavera

SAP

Negotiation

Communication

Teamwork

Education

Bachelor's degree in engineering, construction management, or related field

Tools

Primavera

MS Project

SAP

Job description

Responsibilities

• Develop and maintain project budgets cost estimates and forecasts
• Monitor project expenditures and ensure costs are within approved budgets
• Analyze and report on cost variances and recommend corrective actions
• Prepare monthly cost reports and financial statements for stakeholders
• Prepare review and negotiate contracts subcontracts and change orders
• Ensure compliance with contract terms and conditions
• Manage contract documentation including bid proposals contract agreements and modifications
• Evaluate contractor performance and resolve contract disputes
• Identify potential cost contract risks and develop mitigation strategies
• Conduct risk assessments and provide recommendations to the project management team
• Coordinate with procurement teams to ensure timely acquisition of project materials and services
• Evaluate bids and proposals to ensure cost-effectiveness and compliance with project requirements
• Implement and maintain project cost control systems and procedures
• Track project progress and ensure alignment with financial objectives
• Provide input for project scheduling and resource allocation
• Liaise with clients contractors and other stakeholders to ensure effective communication and project alignment
• Prepare and present cost and contract reports to clients and senior management
• Maintain accurate and up-to-date project cost records and documentation
• Ensure timely and accurate reporting of project financials

Minimum Requirements

• Minimum Requirements: Bachelor s degree in engineering, Construction Management, Quantity Surveying, or a related field.
• Minimum of 10 years of experience in cost management and contract administration in the construction or engineering industry, preferably within a PMC environment.
• Professional certification such as RICS, AACE, or PMP is desirable.
• Strong knowledge of cost control principles, budgeting, and financial reporting.
• Excellent understanding of contract law and contract management.
• Proficiency in cost management software and tools (e.g., Primavera, MS Project, SAP).
• Advanced skills in MS Office Suite, particularly Excel.
• Strong analytical, negotiation, and problem-solving skills.
• Excellent communication and interpersonal skills.
• Ability to work independently and as part of a team.