Senior Cost Manager - CAPEX and Cost Assurance

Parsons; Riyadh; On-site; SAR 40,000 - 58,000; Full time

Job summary

Parsons is seeking a Senior Cost Manager in Riyadh, Saudi Arabia to provide independent cost advice, oversee large CAPEX budgets, and strengthen cost governance across major projects.

You will lead forecasting, variance analysis, and contingency management while collaborating with delivery, planning, procurement, and risk teams to ensure alignment with approved scope and program objectives.

Qualifications

• Bachelor's degree in Quantity Surveying, Cost Management, Commercial Management, Engineering, Construction Management, or related.
• Minimum 15 years of cost management, QS, commercial management, or project controls experience.
• Strong background in major capital projects and CAPEX governance.
• Experience with client/owner organizations in cost advisory or controls roles.

Responsibilities

• Advise Client on CAPEX, budgets, expenditure, forecasts, and final cost.
• Govern project and program cost baselines and track variances.
• Review cost plans, estimates, budgets, and forecast models for credibility.
• Monitor expenditure, commitments, accruals, forecasts against funding.
• Identify budget overruns and financial exposure early.
• Recommend cost optimization and risk-mitigation measures.
• Maintain visibility of CAPEX position across packages and workstreams.
• Develop CAPEX dashboards and senior-level cost reporting.
• Challenge contractor/consultant forecasts with senior leadership.
• Provide independent cost assurance over contractor and team submissions.
• Quantify cost-related risks with risk management teams.
• Mentor Cost Engineers and QS personnel.

Skills

CAPEX management

Cost assurance

Cost planning

Cost control

Cost forecasting

Budget management

Expenditure monitoring

Commitment tracking

Cash flow forecasting

Final cost forecasting

Cost baseline management

Cost-loaded schedules

Cost variance analysis

Change management

Contingency management

Financial risk analysis

Value engineering

Cost optimization

Contractor cost validation

Consultant cost review

Executive cost reporting

CAPEX dashboards

Project financial governance

Quantity surveying

Commercial coordination

Major capital projects

Education

Bachelor's degree in Quantity Surveying/Cost Management/Construction Management

Tools

MRICS

PMP

CCP

Job description

Senior Cost Manager - CAPEX and Cost Assurance Job Snapshot Role: Senior Cost Manager - CAPEX and Cost Assurance Location: Riyadh, Saudi Arabia Industry: Construction Function: Cost Estimating Experience: 15 years in cost management, quantity surveying, commercial management, or project controls Job Type: Full-time

Senior Cost Manager - CAPEX and Cost Assurance in Riyadh, Saudi Arabia is a senior Construction opportunity for an experienced cost professional with deep expertise in major capital projects, CAPEX governance, forecasting, cost assurance, change management, contingency control, and financial reporting. Parsons Corporation is hiring a senior cost leader to provide independent cost advice to the Client, maintain control of large-scale budgets, strengthen cost governance, and ensure project expenditure remains aligned with approved scope, priorities, and overall program objectives.

Country: Saudi Arabia City: Riyadh Industry: Construction Function: Cost Estimating Salary: 40000-58000 Estimated salary range based on similar jobs in the job city; please confirm the final offer with the employer. Gender: Any Candidate Nationality: Any Job Type: Full-time

Role Context

The Senior Cost Manager will act as a key financial and commercial advisor across the project lifecycle, connecting technical delivery decisions with their budgetary and CAPEX consequences. The role requires independent scrutiny of cost data, contractor forecasts, consultant submissions, changes, contingencies, and projected outturn costs so that the Client has a reliable view of financial performance at all times. Strong governance and forward-looking analysis will be central to identifying cost pressure early, protecting approved budgets, and supporting informed investment decisions.

Key Responsibilities

• Advise the Client on project CAPEX, approved budgets, expenditure, commitments, forecasts, and anticipated final cost.
• Support establishment and governance of project and program cost baselines.
• Review cost plans, estimates, financial assumptions, budgets, and forecast models for completeness and credibility.
• Monitor actual expenditure, commitments, accruals, forecasts, and projected final costs against approved funding.
• Identify potential budget overruns, cost pressures, and financial exposure at an early stage.
• Recommend practical cost optimization, funding allocation, and financial risk mitigation measures.
• Maintain clear visibility of the overall CAPEX position across packages, workstreams, and delivery stages.
• Lead ongoing review of expenditure profiles, commitments, accruals, and final account projections.
• Develop CAPEX dashboards and senior-level cost reporting for Client and project leadership.
• Analyze material cost movements and explain variances against approved budgets and baselines.
• Assess the financial effect of scope development, design evolution, schedule changes, procurement strategies, and project risks.
• Provide independent cost assurance over information submitted by contractors, consultants, and project teams.
• Reconcile cost data across multiple packages to prevent duplication, omissions, or inconsistent assumptions.
• Review monthly cost reports, forecasts, commitments, accruals, and expenditure data.
• Challenge contractor and consultant forecasts in coordination with senior commercial leadership.
• Produce forward-looking analysis of expected final project cost and emerging financial trends.
• Review cost-loaded schedules and confirm alignment between cost reporting and program performance.
• Analyze budget variances and work with delivery teams to define corrective and mitigation actions.
• Establish cost coding structures, cost breakdown structures, and reporting hierarchies that support traceable financial control.
• Integrate cost information with planning, procurement, change, commercial, and risk management processes.
• Review the cost impact of proposed variations, claims, scope changes, and design development before approval.
• Determine whether proposed changes can be absorbed within approved budgets or contingency allowances.
• Monitor cumulative changes and quantify their effect on overall CAPEX and projected outturn cost.
• Verify that change-control submissions include sufficient cost substantiation and supporting evidence.
• Identify emerging changes and potential financial liabilities before they become committed costs.
• Support effective contingency governance and advise on appropriate contingency utilization.
• Work closely with leadership, finance, commercial, procurement, planning, engineering, and delivery teams.
• Coordinate with Delivery Partner cost, project management, commercial, and planning functions.
• Participate in Client governance meetings, investment reviews, project steering committees, and senior cost reviews.
• Present clear cost commentary covering significant movements, risks, opportunities, and management actions.
• Support cost and financial audits by providing traceable records and supporting documentation.
• Quantify cost-related project risks in collaboration with risk management teams.
• Contribute to value engineering by assessing alternatives from both cost and delivery perspectives.
• Challenge unnecessary cost growth while protecting required scope, quality, and project outcomes.
• Mentor Cost Engineers, Quantity Surveyors, and other commercial or cost personnel.
• Escalate significant financial trends, budget impacts, and emerging cost risks to senior management.

Ideal Profile

• Bachelor 's degree in Quantity Surveying, Cost Management, Commercial Management, Engineering, Construction Management, or a related discipline.
• Minimum 15 years of relevant experience in cost management, quantity surveying, commercial management, or project controls.
• Strong background in major capital projects, infrastructure, airports, transportation, or large-scale development programs.
• Demonstrated experience working directly with Client or Owner organizations in a cost advisory, assurance, or project controls role.
• Proven capability managing and monitoring substantial CAPEX budgets across complex programs.
• Strong knowledge of cost planning, forecasting, cash flow, expenditure, commitments, accruals, contingency, and final cost forecasting.
• Experienced in reviewing contractor and consultant forecasts, variations, claims, and financial submissions.
• Strong understanding of change control and the cumulative impact of project changes on approved budgets.
• Familiarity with structured Client governance, investment approvals, and financial control frameworks.
• Able to challenge cost data independently and provide evidence-based recommendations to senior stakeholders.
• Experience in Delivery Partner, PMC, consultant, or Client-side environments is highly desirable.
• Strong commercial and financial judgment with the ability to translate technical changes into measurable cost impact.
• MRICS, PMP, CCP, or equivalent professional certification is desirable.
• Confident communicating complex cost information through dashboards, reports, and executive-level presentations.

Skills Set

• CAPEX management
• Cost assurance
• Cost planning
• Cost estimating
• Cost control
• Cost forecasting
• Budget management
• Expenditure monitoring
• Commitment tracking
• Accrual management
• Cash flow forecasting
• Final cost forecasting
• Cost baseline management
• Cost-loaded schedules
• Cost variance analysis
• Cost coding structures
• Cost breakdown structures
• Change management
• Variation assessment
• Claims cost review
• Contingency management
• Financial risk analysis
• Value engineering
• Cost optimization
• Contractor cost validation
• Consultant cost review
• Executive cost reporting
• CAPEX dashboards
• Project financial governance
• Quantity surveying
• Commercial coordination
• Major capital projects

Why Join Us

Riyadh 's expanding portfolio of major infrastructure and development programs creates sustained demand for senior cost professionals who can provide independent financial assurance across complex delivery environments. This position offers direct exposure to Client-side governance, high-value CAPEX oversight, strategic cost decisions, and multidisciplinary project interfaces. It is particularly suited to an experienced cost manager seeking influence over financial performance, contingency strategy, and long-term value on a major Construction program in Saudi Arabia.

About the Company

Parsons Corporation delivers engineering, infrastructure, program management, and technology solutions for complex projects across global markets. In Saudi Arabia, the company supports major development programs where disciplined cost governance, commercial oversight, financial assurance, and integrated project controls are essential to successful delivery.