Value Engineer

Client of Alliance Recruitment Agency; Riyadh; On-site; SAR 60,000 - 100,000; Full time

Job summary

An established industry player is seeking a skilled Value Engineer to oversee project costs and ensure financial efficiency. In this dynamic role, you will manage cost estimation, budgeting, and financial analysis while collaborating with project teams to optimize resources and align with company goals. Your expertise will support decision-making, improve cost efficiency, and enhance project delivery within budget constraints. If you have a strong background in cost engineering and a passion for driving financial performance, this opportunity is perfect for you to make a significant impact in the construction sector.

Qualifications

• 3-5 years of experience in cost engineering or cost control.
• Bachelor's degree in a relevant field is required.

Responsibilities

• Prepare detailed cost estimates and develop project budgets.
• Track project expenditures and conduct cost variance analysis.
• Collaborate with teams to align costs with project objectives.

Skills

Cost Management Tools

Cost Estimation

Budgeting

Financial Analysis

Advanced Excel Skills

Analytical Skills

Problem-Solving Skills

Communication Skills

Negotiation Skills

Organizational Skills

Education

Bachelor’s degree in Civil Engineering

Bachelor’s degree in Construction Management

Bachelor’s degree in Quantity Surveying

Tools

CostX

Primavera Cost Manager

Job description

Job Description: We are seeking a highly skilled and experienced Value Engineer to manage and control project costs, ensuring budgets are adhered to and providing accurate cost forecasts. The successful candidate will be responsible for estimating costs, monitoring project expenditures, and analyzing financial data to support decision-making and improve cost efficiency. This role will collaborate with project teams to deliver projects within financial constraints and align with company objectives.

Key Responsibilities:

Cost Estimation and Budgeting:

• Prepare detailed cost estimates during the project’s feasibility and design stages.
• Develop project budgets based on scope, resource requirements, and market conditions.
• Work closely with project managers to finalize budgets and cost plans.

Cost Monitoring and Control:

• Track and monitor project expenditures to ensure adherence to approved budgets.
• Conduct cost variance analysis to identify and address deviations.
• Recommend cost-saving measures to optimize project efficiency and reduce waste.

Forecasting and Reporting:

• Prepare regular cost reports and forecasts to provide insights into financial performance.
• Generate cash flow projections and expenditure forecasts for project phases.
• Present cost analyses and updates to senior management.

Tendering and Procurement Support:

• Assist in preparing tender documents and evaluating contractor bids.
• Analyze cost implications of procurement decisions, including materials, equipment, and services.
• Support contract negotiations by providing accurate cost data and recommendations.

Risk Analysis and Mitigation:

• Identify cost risks and propose mitigation strategies to minimize financial exposure.
• Conduct what-if scenarios to evaluate the financial impact of potential project changes.
• Monitor contingency allowances and recommend adjustments as necessary.

Collaboration and Communication:

• Collaborate with project teams, procurement staff, and vendors to align costs with project objectives.
• Work with the Planning Engineer to integrate cost data into project schedules.
• Ensure all stakeholders are informed of cost implications for project decisions.
• Review and improve cost management processes and tools to enhance accuracy and efficiency.
• Stay updated on industry trends, cost estimation techniques, and market pricing.

Required Qualifications:

• Education: Bachelor’s degree in Civil Engineering, Construction Management, Quantity Surveying, or a related field.
• Experience: Minimum of 3-5 years of experience in cost engineering or cost control, preferably in the construction or real estate sector.
• Certifications: Certification in cost engineering (e.g., CCP by AACE) or equivalent is a plus.

Skills:

• Proficiency in cost management tools and software (e.g., CostX, Primavera Cost Manager, or similar).
• Strong understanding of cost estimation, budgeting, and financial analysis principles.
• Advanced Excel skills for data analysis and financial modeling.
• Strong analytical and problem-solving skills to address cost-related challenges.
• Attention to detail and accuracy in cost calculations and financial reporting.
• Excellent organizational skills to manage multiple projects and deadlines.
• Effective communication and negotiation skills for working with teams, contractors, and vendors.
• Proactive and results-driven mindset with the ability to work under pressure.