Summary
Dar Al Riyadh is seeking a Cost Control Manager for its project team in Riyadh. The role oversees cost estimation, budgeting, forecasting, expense monitoring, cost reviews, and financial reporting throughout the project lifecycle. It also involves reviewing contractor and supplier bids, supporting project teams with cost procedures and contract administration, and identifying savings opportunities. Applicants need a relevant bachelor’s degree and at least 15 years of construction or infrastructure cost management experience; a master’s degree is preferred.
The posting
As published on daralriyadh.com. Pulled from the employer's site and shown as they wrote it.
We are seeking a highly experienced Cost Control Manager to join our Project team. The ideal candidate will have a minimum of 15 years of relevant experience in cost management within the construction or infrastructure sector. In this role, you will be responsible for overseeing all aspects of cost estimation, budgeting, forecasting, and control. You will work closely with project managers, engineers, contractors, and other stakeholders to ensure that project costs are effectively managed and controlled throughout the project lifecycle.
Responsibilities:
- Develop comprehensive project cost estimates based on project scope, specifications, and requirements.
- Collaborate with project managers to establish project budgets and ensure alignment with organizational goals and objectives.
- Conduct regular cost reviews and analysis to identify variances and potential cost overruns, and implement corrective actions as necessary.
- Monitor project expenses, commitments, and cash flow to ensure adherence to approved budgets.
- Prepare accurate and timely financial reports, forecasts, and cost projections for project stakeholders.
- Review and evaluate contractor and supplier bids to ensure competitiveness and compliance with project requirements.
- Provide cost-related guidance and support to project teams, including cost control procedures, change management, and contract administration.
- Participate in project meetings and presentations to provide updates on project cost performance and outlook.
- Maintain accurate and up-to-date records of all project costs, including invoices, contracts, change orders, and other relevant documentation.
- Identify opportunities for cost savings and efficiency improvements within the project and make recommendations for implementation.
Minimum Requirements:
- Bachelor's degree in Construction Management, Engineering, Finance, or related field. Master's degree preferred.
- Minimum of 15 years of experience in cost management within the construction or infrastructure industry, with a proven track record of successfully managing large-scale projects.
- Strong understanding of project cost estimation techniques, cost control principles, and financial analysis.
- Proficiency in project management software and financial modeling tools.