Senior Cost Engineer

7 days ago


تبوك, Saudi Arabia Parsons Full time

**What You'll Be Doing**:

- Develop accurate and comprehensive cost estimates for projects, considering all relevant factors and variables.
- Collaborate with project managers, engineers, and other stakeholders to establish project budgets.
- Conduct cost analysis and benchmarking to ensure competitiveness and cost effectiveness.
- Review and validate cost estimates provided by contractors and suppliers.
- Monitor project costs throughout the project lifecycle, ensuring adherence to budgetary constraints.
- Analyze and report on cost variances, identifying potential cost overruns or savings opportunities.
- Track and manage change orders, assessing their impact on project costs.
- Implement cost control measures to optimize project costs and minimize financial risks.
- Prepare regular financial reports, including cost forecasts, budget updates, and expenditure analysis.
- Provide accurate and timely cost data to support financial decision-making and reporting requirements.
- Conduct financial analysis to identify trends, patterns, and opportunities for cost optimization.
- Collaborate with finance and accounting teams to ensure accurate cost allocation and reporting.
- Identify and assess potential risks and uncertainties that may impact project costs.
- Collaborate with project teams to develop risk mitigation strategies and contingency plans.
- Evaluate the financial impact of risks and propose appropriate cost control measures.
- Monitor and report on the effectiveness of risk mitigation actions.
- Identify opportunities to enhance cost engineering processes, methodologies, and tools.
- Implement best practices and standardized procedures to improve cost estimation accuracy.
- Conduct lessons learned sessions to capture and share cost-related insights and recommendations.
- Stay updated on industry trends and innovations in cost engineering practices.
- Collaborate with project managers, engineers, procurement teams, and other stakeholders to gather cost-related information.
- Provide cost-related guidance and support to project teams and stakeholders.
- Communicate cost-related information effectively to non-technical stakeholders.
- Foster strong relationships with internal and external stakeholders to ensure collaboration and alignment.

**Budget Management**:

- Monitor project budgets and expenditures, ensuring that costs are controlled and aligned with the project’s financial goals.
- Identify cost variances and provide recommendations for corrective actions to keep projects within budget.
- Collaborate with project managers to forecast project costs and manage budget changes.

**Cost Control and Reporting**:

- Implement cost control processes to track and manage project costs throughout the project lifecycle.
- Prepare regular financial reports, including cost analyses, forecasts, and budget updates.
- Conduct financial analysis to support project decision-making and optimize resource allocation.

**Risk Management**:

- Identify potential cost risks and develop strategies to mitigate financial exposure.
- Work with the project team to assess the financial impact of changes in project scope or schedule.

**What Required Skills You'll Bring**:

- Bachelor's Degree in Engineering or Construction Management or related field (or equivalent experience).
- Typically 10 years of related work experience.
- Proficient PC skills including proficiency in various Project Controls software and Microsoft Office Suite.

**What Desired Skills You'll Bring**:

- Excellent Oral and Written Communication Skills
- Prior PMC experience is advantageous
- Ability to multi task as and when required

**Minimum Clearance Required to Start**:
Not Applicable/None

Parsons is an equal opportunity employer committed to diversity in the workplace. Minority/Female/Disabled/Protected Veteran.


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