Summary
Estithmar Holding is seeking a Lead Cost Control Engineer for work in KSA. The role manages project budgets, estimates, forecasts, expenditure tracking, cost reports, invoice reviews, and the cost impact of variations, while recommending corrective and cost-saving measures. Candidates should have a bachelor’s degree in engineering or a related field, at least 8 years of work experience including 5 relevant years, and knowledge of cost control tools such as Primavera or Procore; SAP functional skills are preferred. Two years of GCC experience is a plus.
The posting
As published on estithmarholding.com. Pulled from the employer's site and shown as they wrote it.
Job Summary
The Lead Cost Control Engineer is responsible to manage and optimize project expenditures throughout the construction lifecycle, ensuring adherence to budgetary constraints, including overseeing cost estimation, tracking, and reporting processes, identifying variances and implementing corrective actions to maintain financial targets. Through meticulous analysis and strategic planning, the role maximizes cost efficiency and support the timely delivery of high-quality projects.
Job Responsibilities 1
Develop and implement cost control procedures and systems to monitor project expenditures and ensure adherence to budgetary constraints.
Collaborate with project managers and stakeholders to establish project budgets, cost forecasts, and expenditure plans.
Conduct detailed cost estimation and analysis for project components, materials, labor, and overhead expenses.
Track and analyze project costs, identifying variances, trends, and potential cost-saving opportunities.
Prepare regular cost reports and presentations for project stakeholders, highlighting key financial metrics and performance indicators.
Review contractor and vendor invoices, verifying accuracy and adherence to contract terms and pricing agreements.
Evaluate change orders and variations to assess their impact on project costs and timelines, and negotiate with stakeholders as necessary.
Implement cost control measures to mitigate risks and minimize cost overruns, including value engineering and cost-saving initiatives.
Provide guidance and support to project teams on cost-related matters, offering recommendations for cost-effective solutions and strategies.
Continuously monitor market trends, pricing fluctuations, and regulatory changes that may impact project costs, and adjust cost control strategies accordingly.
Support the implementation of HSE initiatives, participate in safety awareness activities, and contribute to incident reporting and resolution in alignment with company and IMS policies
Job Knowledge & Skills
Proficiency in financial analysis techniques to assess project costs, identify trends, and analyze variances. This includes knowledge of financial modeling, cost estimation methodologies, and understanding of accounting principles.
Strong project management skills to effectively plan, organize, and prioritize tasks related to cost control activities. This includes the ability to coordinate with multiple stakeholders, manage timelines, and ensure alignment with project objectives.
Familiarity with cost control software and tools such as Primavera, Procore, or similar platforms used for budget tracking, forecasting, and reporting. Proficiency in using spreadsheets and database software for data analysis and reporting is also essential.
Knowledge of contract management principles and experience in reviewing contracts, change orders, and vendor agreements to ensure compliance with cost control objectives. This includes the ability to negotiate terms and resolve disputes related to project costs.
Excellent communication and interpersonal skills to effectively liaise with project teams, contractors, vendors, and other stakeholders. The ability to convey complex cost-related information clearly and concisely, as well as collaborate with cross-functional teams, is crucial for success in this role.
ERP knowledge preferably SAP functional skills are a requirement to be successful in this role.
Job Experience
Minimum 8 year(s) working experience, 5 year(s) relevant working experience, 2 year (s) GCC is a plus.
Competencies
Agility
AI Fluency
Build High-Performing Teams
Change Management L3_371007384
Claim Studies L3
Cost Control L3
Financial Reporting L3_323747999
Leadership_321977503
Provide Direction
Quality_321977507
Resilience
Time and Task Management L3
Education
Bachelor's Degree in Engineering or any related field