Cost Specialist - Project Cost Control

Parsons; Riyadh; On-site; SAR 100,000 - 156,000; Full time

Job summary

Parsons Corporation is seeking a Cost Specialist - Project Cost Control in Riyadh, Saudi Arabia. The role focuses on budgeting, forecasting, earned value analysis, and financial reporting within a structured project controls environment.

Ideal candidates have 0-2 years in budgeting or cost control, strong Excel and Power BI skills, and are Saudi nationals. The position supports major projects and involves collaboration with project teams to ensure accurate cost data and informed decision-making.

Qualifications

• Bachelor's degree in Accounting, Finance, or a related discipline.
• Saudi National as specified for this position.
• 0-2 years of relevant experience in budgeting, forecasting, financial reporting, or project cost control.
• Familiarity with Work Breakdown Structures and project-based cost allocation.
• Good written and verbal English communication skills.

Responsibilities

• Coordinate cost allocation across projects with project teams.
• Maintain visibility of expenditure, revenue, and financial performance.
• Establish baseline budgets using Work Breakdown Structure.
• Prepare weekly and monthly cost tracking reports.
• Analyze cost variances and recommend corrective actions.
• Develop or maintain Power BI dashboards for cost visibility.
• Support invoicing and change control activities.

Skills

Project cost control

Cost estimating

Budget management

Cost forecasting

Financial reporting

Variance analysis

Work Breakdown Structure

Resource forecasting

Revenue forecasting

Earned Value

Invoicing

Cost tracking

Microsoft Excel

Power BI

Education

Bachelor's degree in Accounting or Finance

Tools

Microsoft Excel

Power BI

Job description

Cost Specialist - Project Cost Control Job Snapshot Role: Cost Specialist - Project Cost Control Location: Riyadh, Saudi Arabia Industry: Construction Function: Cost Estimating Experience: 0-2 years in budgeting, forecasting, cost control, or financial reporting Job Type: Full-time

Position Overview Cost Specialist - Project Cost Control in Riyadh, Saudi Arabia is an early-career Construction opportunity focused on budgeting, cost forecasting, earned value analysis, financial reporting, invoicing, and project performance monitoring. Parsons Corporation is hiring a Saudi National Cost Specialist to support major engineering and construction programs by maintaining reliable cost baselines, tracking expenditure and revenue, analyzing variances, and providing project leadership with accurate financial information for planning and decision-making.

Country: Saudi Arabia City: Riyadh Industry: Construction Function: Cost Estimating Salary: 9000-14000 Estimated salary range based on similar jobs in the job city; please confirm the final offer with the employer. Gender: Any Candidate Nationality: Saudi National Job Type: Full-time

The Cost Specialist will support the financial control of complex projects by connecting budgets, actual expenditure, revenue, resource planning, invoicing, forecasting, and earned value information within a structured project controls environment. Working closely with Project Managers, planners, finance teams, and other disciplines, the role will help maintain dependable cost data and provide early visibility of deviations from approved baselines. The position offers practical exposure to the commercial and financial mechanics of major projects while developing strong project controls capabilities.

Key Responsibilities

• Coordinate with project, finance, planning, and other departments to ensure costs are accurately allocated to the correct projects.
• Maintain complete visibility of expenditure, commitments, revenue, and financial performance for the cost control team.
• Establish baseline budgets for resources, revenue, and project costs using an appropriate Work Breakdown Structure.
• Coordinate budget development with Project Managers, schedulers, finance personnel, and technical disciplines.
• Establish resource and revenue projections based on approved project plans and delivery requirements.
• Analyze actual cost performance against approved baselines and current forecasts.
• Prepare weekly and monthly project cost tracking reports.
• Produce cost forecasts and regularly update expected final project expenditure.
• Identify deviations from cost baselines and investigate the underlying causes of significant variances.
• Recommend corrective measures when financial performance differs from planned targets.
• Use historical performance data and cost trends to support realistic planning and forecasting.
• Participate in monthly and quarterly project performance reviews.
• Assist project teams in preparing explanations and supporting information for cost and revenue variances.
• Provide financial analysis to support project management decisions.
• Prepare earned value and cost performance information for inclusion in project controls reports.
• Monitor project budgets and ensure approved cost limits remain visible throughout delivery.
• Support invoicing activities and track financial status against planned revenue.
• Maintain change control information and assess the potential cost implications of project changes.
• Support preparation of project forecasts covering resource demand, revenue, expenditure, and cash requirements.
• Coordinate with planning personnel to align schedule progress with cost performance.
• Analyze project status against established baselines and identify trends requiring management attention.
• Support the Project Director in reviewing and finalizing project business plans.
• Provide cost control input to business planning, budgeting, and project performance discussions.
• Attend Client meetings and provide accurate cost information when requested.
• Prepare statistical reports, cost summaries, dashboards, and supporting management information.
• Assist in configuring project control systems and reporting structures to meet project-specific requirements.
• Verify that project cost data is complete, traceable, and suitable for management reporting.
• Use Microsoft Excel to analyze project financial data, identify trends, and prepare detailed cost reports.
• Develop or maintain Power BI dashboards that improve visibility of project cost and financial performance.
• Help resolve complex cost control issues through structured analysis and coordination with appropriate stakeholders.
• Maintain accurate project records supporting budgets, forecasts, invoices, changes, and cost reporting.
• Contribute to continuous improvement of cost control processes, reporting formats, and data quality.

Ideal Profile

• Bachelor 's degree in Accounting, Finance, or a related discipline from an accredited institution.
• Saudi National as specified for this position.
• 0-2 years of relevant experience in budgeting, forecasting, financial reporting, or project cost control.
• Exposure to major engineering, construction, infrastructure, or entertainment development projects is advantageous.
• Good understanding of budgeting, financial analysis, cost tracking, and forecasting principles.
• Familiarity with Work Breakdown Structures and project-based cost allocation.
• Understanding of baseline budgets, actual costs, commitments, forecasts, and variance analysis.
• Awareness of earned value and project performance measurement concepts is beneficial.
• Ability to work confidently with numerical and financial information.
• Strong Microsoft Excel capability for analysis, reconciliation, reporting, and data presentation.
• Working knowledge of Power BI for dashboards and project performance visualization.
• Able to coordinate effectively with project management, planning, finance, and technical teams.
• Strong attention to accuracy when managing financial and project controls data.
• Good written and verbal English communication skills.
• Comfortable preparing reports and presenting financial information in a clear and structured manner.
• Willing to develop deeper expertise in cost engineering, commercial management, and project controls.

Skills Set

• Project cost control
• Cost estimating
• Budget management
• Cost forecasting
• Financial reporting
• Variance analysis
• Cost baseline management
• Work Breakdown Structure
• Resource forecasting
• Revenue forecasting
• Earned Value Management
• Cost performance reporting
• Project budgeting
• Invoicing
• Change control
• Cost tracking
• Financial analysis
• Project controls
• Cost trend analysis
• Forecast at Completion
• Budget variance reporting
• Business planning
• Management reporting
• Microsoft Excel
• Power BI
• Data analysis
• Project dashboards
• Statistical reporting
• Cost data reconciliation
• Construction project finance

Why Join Us

Saudi Arabia 's major construction and development programs offer strong demand for professionals who understand both financial analysis and project controls. This position provides a Saudi National graduate or early-career professional with hands-on exposure to project budgeting, forecasting, earned value, invoicing, change control, and performance reporting within a major international organization. The role creates a practical foundation for progression into cost engineering, commercial management, financial controls, and broader project controls responsibilities.

About the Company

Parsons Corporation delivers engineering, infrastructure, program management, and technology solutions for major projects worldwide. In Saudi Arabia, its teams support large construction and development programs through engineering, project controls, cost management, commercial oversight, digital reporting, and coordinated project delivery.