Cost Engineer

Dar Al Riyadh Group; Saudi Arabia; On-site; SAR 250,000 - 450,000; Full time

Job summary

Dar Al Riyadh Group has a leadership role for a senior cost manager in Saudi Arabia. The candidate will oversee project budgets, cost estimates, and forecasts while ensuring expenditures stay within approved budgets and reporting to stakeholders.

The position requires a bachelor’s degree in a related field and at least 10 years in cost management and contract administration, preferably in a PMC environment.

Qualifications

• 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 construction/engineering, preferably in a PMC environment.
• Professional certification such as RICS, AACE, or PMP is desirable.
• Strong knowledge of cost control, budgeting, and financial reporting.

Responsibilities

• Develop and maintain project budgets, cost estimates, and forecasts.
• Monitor expenditures and keep costs within approved budgets.
• Analyze cost variances and propose 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 manage contract documentation.
• Identify cost and contract risks and develop mitigation strategies.
• Coordinate with procurement to ensure timely acquisition and evaluate bids for cost-effectiveness.
• Maintain project cost records and ensure timely reporting of project financials.
• Liaise with clients, contractors, and stakeholders to present cost and contract reports.

Skills

Cost control

Budgeting

Financial reporting

MS Excel

Negotiation

Communication

Analytical skills

Teamwork

Education

Bachelor’s degree in engineering or Construction Management or Quantity Surveying

Tools

Primavera

MS Project

SAP

Job description

• 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.
• 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.