Engineer I, Cost Control

AL-AYUNI Investment and Contracting Company; Saudi Arabia; On-site; SAR 120,000 - 180,000; Full time

Job summary

AL-AYUNI Investment and Contracting Company seeks a cost control professional to assist in planning, monitoring and reporting on project costs. The role involves developing cost control plans, managing variations and ensuring alignment with budgets and schedules.

You will work with Oracle ERP, monitor all costs (fixed and variable), and prepare monthly/annual cost forecasts while coordinating with project and financial teams to address deviations and risks.

Responsibilities

• Assisting in planning, monitoring, analysis and controlling project costs, and regularly providing project-related reports on cost control.
• Assist in developing cost control plans, procedures, systems and tools used to determine potential cost scope, schedule and reporting.
• Assisting in all requests for changes in the established total cost and impact on the schedule.
• Adhering to approved plans for each project to ensure cost and performance for the agreed-upon scope of work.
• Change management (variations and claims) regarding any financial aspect.
• Experience in working with and utilizing Oracle ERP.
• Monitoring all fixed and variable costs.
• Resource utilization management in coordination with operations team.
• Reviewing direct and indirect cost items.
• Contributing to monthly and annual cost forecast preparation.
• Identify and analyse deviations from the budget, risk analysis and reporting with corrective actions.
• Compare actual prices with budget studies and study cost adjustment feasibility.
• Coordinate with project manager on schedules, claims and work items; study impact on expenses.
• Coordinate with financial management to obtain current cost data for reporting.
• Develop cost control systems, procedures, and error detection/correction.
• Monitor total project expenses and verify invoices and claims in Oracle ERP.
• Prepare/update the cost control management database and monthly cost accounting/forecasting reports.
• Ensure timely submission of reports and prepare them for obstacles or financial risks.
• Review manpower and equipment productivity on-site and provide related reports.

Job description

• Assisting in planning, monitoring, analysis, and controlling project costs, and regularly providing project-related reports on cost control.
• Assist in developing project cost control plans, procedures, systems, and tools used to determine the potential cost scope, project schedule, and reporting.
• Assisting in all requests for changes in the established total cost and the impact on the schedule.
• Adhering to approved plans for each project to ensure compliance with costs and performance for the agreed-upon scope of work in all project functions.
• Change Management (Variations and Claims) regarding any financial aspect.
• Experience in working and utilizing Oracle ERP.
• Monitoring all fixed and variable costs.
• Resource utilization management in coordination with operations team.
• Reviewing direct and indirect cost items.
• Contributing to the process of preparing monthly and annual cost forecasts.
• Assist in identifying and analysing deviations from the project budget, their causes, risk analysis, and raising the necessary reports, as well as suggesting corrective and preventive actions.
• Comparing actual prices for project requirements with the prices specified in the studies, highlighting deviations from the budget, and studying the feasibility of cost adjustment.
• Coordinating with project manager regarding schedules, claims, and work items, and studying the impact on direct and indirect expenses.
• Coordinating with the financial management to obtain current and accurate cost data for cost reporting.
• Developing cost control systems, procedures, and error detection and correction.
• Monitoring the total project expenses and participating in verifying invoices and claims, ensuring their proper recording in Oracle ERP.
• Preparing and updating the cost control management database and preparing monthly cost accounting and forecasting reports.
• Ensuring the completion and timely submission of reports and preparing reports in case of any obstacles or financial risks.
• Reviewing Manpower and equipment productivity on-site and providing related reports.