Cost Engineer
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Key skills for this role
About the Role
Seeking an experienced Cost Engineer to join the project controls team in Makkah, Saudi Arabia. Responsible for cost tracking, budget performance, financial accountability, and reporting across engineering, procurement, and construction initiatives.
Key Skills for This Role
Responsibilities
- Take ownership of cost tracking, commitments, actuals, and incurred costs against approved budgets, ensuring accuracy and transparency across all project phases
- Monitor and analyse cost performance throughout engineering, procurement, construction, and commissioning stages, identifying variances, trends, and emerging risks
- Validate invoices, progress claims, and contractor payment applications against work performed with rigorous attention to detail, supporting cost claim management and dispute resolution
- Prepare comprehensive weekly and monthly cost reports, including detailed cost summaries, variance analysis, and forecast updates tailored to stakeholder requirements
- Proactively highlight cost trends, deviations from budget, and potential risks to project stakeholders, supporting strategic decision making and mitigation planning
- Lead the preparation of cash flow forecasts and cost to complete analyses, applying advanced forecasting methodologies to guide project planning and resource allocation
- Evaluate and analyse change notices, change orders, and emerging trends, assessing their cost impacts and supporting change management processes
- Assess cost implications of scope changes, schedule delays, and productivity variances, providing data driven recommendations to project leadership
- Maintain accurate change management logs and ensure strict alignment with established project controls procedures and governance frameworks
- Lead Earned Value Management (EVM) calculations and drive integration between cost and schedule metrics, ensuring alignment across project controls disciplines
Requirements
- Bachelor's degree in Engineering, Finance, Accounting, Construction Management, or related field
- Minimum 7 years of professional experience in cost control, cost engineering, or project controls
- Extensive experience working on large scale EPC/EPCM projects in mining, oil & gas, energy, infrastructure, or industrial sectors
- Advanced proficiency in Microsoft Excel, including pivot tables, complex formulas, and sophisticated dashboard development
- Demonstrated expertise with cost control systems such as Prism, EcoSys, SAP, Oracle, or similar enterprise platforms
- Advanced proficiency in Earned Value Management (EVM) principles, calculations, and strategic applications
- Master's degree in a related field
- Professional certification in project management or cost engineering (PMP, AACE, or equivalent)
Full Job Posting
Job Description
- We are seeking an experienced and analytically rigorous Cost Engineer to join our dynamic project controls team in Makkah, Saudi Arabia.
- In this role, you will take ownership of project cost management, driving budget performance and ensuring financial accountability across all phases of our engineering, procurement, and construction initiatives.
- You will work collaboratively with cross functional teams to deliver transparent, accurate cost reporting and drive informed decision making throughout the project lifecycle.
Responsibilities
- Take ownership of cost tracking, commitments, actuals, and incurred costs against approved budgets, ensuring accuracy and transparency across all project phases
- Monitor and analyse cost performance throughout engineering, procurement, construction, and commissioning stages, identifying variances, trends, and emerging risks
- Validate invoices, progress claims, and contractor payment applications against work performed with rigorous attention to detail, supporting cost claim management and dispute resolution
- Prepare comprehensive weekly and monthly cost reports, including detailed cost summaries, variance analysis, and forecast updates tailored to stakeholder requirements
- Proactively highlight cost trends, deviations from budget, and potential risks to project stakeholders, supporting strategic decision making and mitigation planning
- Lead the preparation of cash flow forecasts and cost to complete analyses, applying advanced forecasting methodologies to guide project planning and resource allocation
- Evaluate and analyse change notices, change orders, and emerging trends, assessing their cost impacts and supporting change management processes
- Assess cost implications of scope changes, schedule delays, and productivity variances, providing data driven recommendations to project leadership
- Maintain accurate change management logs and ensure strict alignment with established project controls procedures and governance frameworks
- Lead Earned Value Management (EVM) calculations and drive integration between cost and schedule metrics, ensuring alignment across project controls disciplines
- Conduct in depth analysis of cost and schedule variances, preparing performance indices (CPI, SPI) and trend forecasts for stakeholder review and strategic planning
- Collaborate strategically with planning teams to ensure accurate progress measurement, cost tracking, and integrated project controls
Required Qualifications
- Bachelor's degree in Engineering, Finance, Accounting, Construction Management, or related field
- Minimum 7 years of professional experience in cost control, cost engineering, or project controls
- Extensive experience working on large scale EPC/EPCM projects in mining, oil & gas, energy, infrastructure, or industrial sectors
- Advanced proficiency in Microsoft Excel, including pivot tables, complex formulas, and sophisticated dashboard development
- Demonstrated expertise with cost control systems such as Prism, EcoSys, SAP, Oracle, or similar enterprise platforms
- Strong analytical and quantitative skills with exceptional attention to detail and data integrity
- Comprehensive understanding of project progress measurement, forecasting methodologies, and change management processes
- Advanced proficiency in Earned Value Management (EVM) principles, calculations, and strategic applications
- Excellent communication and documentation skills, with proven ability to present complex cost data clearly to diverse stakeholders
- Proven ability to work independently and collaboratively while effectively supporting multiple stakeholders and project teams
- Strong organizational skills and demonstrated capability to manage multiple priorities and competing demands in fast paced environments
- Strategic problem solving mindset with capability to analyze cost trends, identify root causes, and recommend data driven solutions
Preferred Qualifications
- Master's degree in a related field
- Experience mentoring junior cost engineers or leading cost control teams
- Proven expertise in invoice validation, payment application review, and cost claim management
- Advanced knowledge of forecasting methodologies and cost to complete analysis techniques
- Extensive experience with multi discipline industrial projects and complex, matrix managed EPC/EPCM environments
- Track record of supporting internal and external project audits and regulatory compliance reviews
- Professional certification in project management or cost engineering (PMP, AACE, or equivalent)
- Experience implementing or optimizing cost control systems and process improvements
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