Summary
Dar Al Riyadh is seeking a Cost Engineer in Yanbu to manage project budgets, estimates, forecasts, expenditure tracking and cost reporting. The role also covers contract administration, risk assessment, bid evaluation and coordination with procurement teams, clients and contractors. Applicants need a bachelor’s degree in engineering, construction management, quantity surveying or a related field, and at least 10 years of relevant experience, preferably in a PMC environment. RICS, AACE or PMP certification is desirable.
The posting
As published on daralriyadh.com. Pulled from the employer's site and shown as they wrote it.
Responsibilities:
- Develop and maintain project budgets, cost estimates, and forecasts. Monitor project expenditures and ensure costs are within approved budgets. Analyze and report on cost variances and recommend corrective actions. Prepare monthly cost reports and financial statements for stakeholders.
- Prepare, review, and negotiate contracts, subcontracts, and change orders. Ensure compliance with contract terms and conditions. Manage contract documentation, including bid proposals, contract agreements, and modifications. Evaluate contractor performance and resolve contract disputes.
- Identify potential cost, contract risks, and develop mitigation strategies. Conduct risk assessments and provide recommendations to the project management team.
- Coordinate with procurement teams to ensure timely acquisition of project materials and services. Evaluate bids and proposals to ensure cost-effectiveness and compliance with project requirements.
- Implement and maintain project cost control systems and procedures. Track project progress and ensure alignment with financial objectives. Provide input for project scheduling and resource allocation.
- Liaise with clients, contractors, and other stakeholders to ensure effective communication and project alignment. Prepare and present cost and contract reports to clients and senior management.
- Maintain accurate and up-to-date project cost records and documentation. Ensure timely and accurate reporting of project financials.
Minimum Requirements:
- Bachelor’s degree in engineering, Construction Management, Quantity Surveying, or a related field.
- Minimum of 10 years of experience in cost management and contract administration in the construction or engineering industry, preferably within a PMC environment.
- Professional certification such as RICS, AACE, or PMP is desirable.
- Strong knowledge of cost control principles, budgeting, and financial reporting.
- Excellent understanding of contract law and contract management.
- Proficiency in cost management software and tools (e.g., Primavera, MS Project, SAP).
- Advanced skills in MS Office Suite, particularly Excel.
- Strong analytical, negotiation, and problem-solving skills.
- Excellent communication and interpersonal skills.
- Ability to work independently and as part of a team.