Project Cost Control Specialist - Budgeting and Financial Reporting

Parsons; Riyadh; On-site; SAR 250,000 - 400,000; Full time

Job summary

Parsons is seeking a seasoned Project Cost Control Specialist to oversee budgeting, cost monitoring, and financial reporting for major engineering projects in Riyadh. You will track commitments, expenditures, and forecasts while ensuring accurate cost baselines and WBS application.

The role requires strong Excel skills, familiarity with EVM and Power BI, and the ability to clearly communicate financial information to stakeholders. On-site work in Riyadh is expected.

Qualifications

• Strong knowledge of project cost control, budgeting, financial forecasting, and reporting.
• Experience with invoicing, cost reporting, and change management processes.
• Advanced Microsoft Excel skills, including PivotTables and charts.
• Excellent written and verbal English communication skills.

Responsibilities

• Monitor project budgets, commitments, expenditures, and forecasts.
• Establish baseline budgets with the Project Manager.
• Apply WBS to organize budgets and monitor performance.
• Produce cost reports and dashboards with Excel/Power BI.
• Coordinate invoicing and payment activities with finance teams.
• Support cost-control documentation and variance explanations.

Skills

Project budgeting

Cost control

Financial forecasting

Earned Value Management

Excel

Power BI

Communication skills

Education

CAF/ACCA or Finance degree

Bachelor's degree in Finance

Tools

Power BI

Excel (PivotTables/Charts)

Job description

Project Cost Control Specialist - Budgeting and Financial Reporting Job Snapshot - Role: Project Cost Control Specialist - Location: Riyadh, Saudi Arabia - Industry: Engineering - Function: Budgeting/Cost Control - Experience: Minimum 10 years - Job Type: Full Time - Work Arrangement: On-site Position Overview Parsons is seeking an experienced Project Cost Control Specialist to support project budgeting, cost monitoring, financial forecasting, and performance reporting in Riyadh, Saudi Arabia. In this role, you will help maintain accurate project budgets and forecasts, track financial commitments and expenditures, analyze cost variances, and prepare reports that support effective project management decisions. You will work closely with Project Managers, Project Controls Managers, Senior Project Control Engineers, finance teams, consultants, and other stakeholders to ensure project costs are accurately recorded, monitored, and reported. The position requires strong knowledge of project cost control, Earned Value Management, cash-flow forecasting, invoicing, and financial reporting, together with advanced Microsoft Excel skills and the ability to communicate complex financial information clearly.

Job Details - Country: Saudi Arabia - City: Riyadh - Industry: Engineering - Function: Budgeting/Cost Control - Salary: Not disclosed - Gender: No Preference - Candidate Nationality: Not specified - Job Type: Full Time - Work Arrangement: On-site

What You 'll Be Doing

Project Budgeting and Cost Control

• Monitor project budgets, allowances, commitments, expenditures, actual costs, change orders, and financial forecasts.
• Establish baseline budgets for project resources, revenue, and costs in coordination with the Project Manager.
• Apply an appropriate Work Breakdown Structure (WBS) to organize and monitor project budgets.
• Track financial performance against approved cost baselines and identify significant variances.
• Coordinate with the Project Controls Manager to review cost deviations and support corrective actions.
• Maintain accurate cost-control information throughout project execution.
• Support Senior Project Control Engineers and Project Controls Managers in developing and updating project budgets and forecasts.

Financial Forecasting and Cash-Flow Management

• Prepare and maintain project cost forecasts based on current financial information and performance trends.
• Develop and update program-level cash-flow forecasts using historical data and relevant cost trends.
• Monitor forecast changes and assess their impact on project financial performance.
• Track labor, consultant, subconsultant, and other project-related costs.
• Maintain accurate records of actual expenditures, commitments, and anticipated costs.
• Support financial planning by providing reliable cost information and forecast updates.
• Identify and explain differences between approved budgets, actual costs, and projected expenditures.

Earned Value Management and Cost Performance Analysis

• Apply Earned Value Management (EVM) principles to assess project cost performance.
• Calculate and report Earned Value (EV), Estimate at Completion (EAC), and Estimate to Complete (ETC).
• Analyze financial performance against established project baselines.
• Identify cost trends and potential budget concerns.
• Prepare cost variance analyses and supporting explanations for management reviews.
• Coordinate with project controls personnel to evaluate performance information and recommended actions.
• Present cost performance findings in a clear and accurate manner.

Cost Reporting and Management Dashboards

• Prepare and update weekly and monthly project cost reports.
• Develop financial status reports, cost-control dashboards, spreadsheets, and management presentations.
• Maintain accurate reporting information for project reviews and management discussions.
• Use Microsoft Excel to analyze financial data and prepare structured reports.
• Support the use of Power BI for basic reporting and dashboard activities.
• Prepare cost summaries and financial information for project management and senior stakeholders.
• Ensure financial reports are accurate, consistent, and submitted within established deadlines.

Invoicing, Billing, and Payment Coordination

• Review subcontractor and consultant payment applications.
• Coordinate monthly invoicing activities with relevant project and finance personnel.
• Support invoice preparation and billing processes.
• Assist with collection-related coordination and follow-up activities.
• Maintain records of payment applications, invoices, and associated financial information.
• Work with relevant stakeholders to resolve invoicing and cost-recording discrepancies.
• Support accurate tracking of project financial transactions and outstanding commitments.

Contract, Purchase Order, and Change Tracking

• Maintain purchase-order, contract, and change-order trackers.
• Monitor project commitments and related cost information.
• Track changes affecting approved budgets and financial forecasts.
• Maintain issue trackers and supporting cost-control documentation.
• Coordinate with relevant project departments to ensure costs are charged correctly.
• Support the accurate reconciliation of cost information across project records.
• Provide updated financial information for project reviews and change management activities.

Project Reviews and Business Planning

• Participate in monthly and quarterly project performance reviews.
• Support project teams in explaining cost variances and preparing financial justifications.
• Prepare financial summaries, spreadsheets, and presentations for management discussions.
• Assist the Project Director in reviewing and finalizing the project business plan.
• Coordinate with project management, finance and other departments to maintain accurate cost information.
• Provide cost-control insights to support project decisions and financial planning.
• Perform other duties associated with the position, as appropriate.

Required Qualifications and Experience

• CAF or ACCA qualification, or a bachelor 's degree in Finance or a related field. Equivalent relevant experience may also be considered.
• Minimum 10 years of experience in project finance, cost control, or a related project-support position.
• Strong knowledge of project cost control, budgeting, financial forecasting, and reporting.
• Experience monitoring project commitments, actual costs, expenditures, labor costs, and financial changes.
• Knowledge of invoicing, cost reporting, and change management processes.
• Advanced Microsoft Excel skills, including formulas, lookup functions, PivotTables, and charts.
• Proficiency in Microsoft Office applications.
• Basic working knowledge of Power BI.
• Strong analytical, data reconciliation, and organizational skills.
• Excellent attention to detail and commitment to financial data accuracy.
• Excellent written and verbal English communication skills.
• Strong presentation and stakeholder coordination abilities.
• Ability to follow established procedures and meet financial reporting deadlines.
• Ability to work effectively with Project Managers, project teams, design discipline leads, and project controls personnel.

Desired Skills and Experience

• Strong practical understanding of Earned Value Management and project performance measurement.
• Experience developing and maintaining project budgets, cost forecasts, and cash-flow projections.
• Experience supporting project reviews and preparing management-level financial reports.
• Ability to develop and maintain cost-control dashboards and analytical spreadsheets.
• Strong ability to identify, analyze, and clearly communicate cost and forecast variances.
• Effective coordination skills when working with project management, finance, consultants, subcontractors, and other stakeholders.

Technical Skills

• Project budgeting and baseline cost development.
• Work Breakdown Structure-based cost control.
• Project cost forecasting and financial performance monitoring.
• Earned Value Management and performance analysis.
• Earned Value, Estimate at Completion, and Estimate to Complete calculations.
• Cash-flow forecasting and expenditure tracking.
• Labor, consultant, and subcontractor cost monitoring.
• Purchase-order, contract, and change-order tracking.
• Payment application review and invoicing coordination.
• Financial data reconciliation and cost variance analysis.
• Advanced Microsoft Excel formulas, lookups, PivotTables, and charts.
• Microsoft Office reporting and presentation tools.
• Basic Power BI reporting and dashboard capabilities.

Key Professional Competencies

• Financial analysis and attention to detail.
• Accurate budget monitoring and cost reporting.
• Strong organizational and data reconciliation skills.
• Ability to identify and explain financial variances.
• Effective communication and presentation skills.
• Stakeholder management and cross-functional coordination.
• Ability to manage reporting deadlines and competing priorities.
• Consistent application of established financial procedures.
• Collaborative working relationships with project and finance teams.
• Clear communication of cost performance information to management.

Working at Parsons At Parsons, you will have the opportunity to contribute to project financial management and cost-control activities while working with multidisciplinary project teams. The company promotes a collaborative environment that values professional expertise, adaptability, innovation, and continuous development. Parsons emphasizes employee wellbeing and supports opportunities for professional growth.

Equal Employment Opportunity Parsons is committed to equal employment opportunity and fair representation at all job levels without discrimination based on race, color, religion, sex, pregnancy, national origin, age, disability, or genetic information.