Cost Control Engineer

1 week ago

Mumbai, India HamdanGlobal Full time

Job Location : Jeddah, KSA


Our team is hiring Cost Control Engineer for one of leading firm based in Jeddah, KSA.


Summary :

The Cost Control Engineer is responsible for monitoring, managing, and controlling the costs associated with construction or engineering projects. This role involves preparing cost estimates, budgets, and reports, as well as analysing variances and implementing cost control measures to ensure that projects are completed within the allocated budget.


Key Responsibilities:


Cost Estimation:

 Prepare detailed cost estimates for projects based on designs, specifications, and project requirements.

 Collaborate with the project team to ensure that all cost elements are accurately captured and accounted for in the budget.

Budget Development:

 Develop and maintain project budgets, ensuring alignment with project objectives and financial constraints.

 Update budgets as project scope and requirements change.


Cost Monitoring and Reporting:

 Track and monitor project costs, expenditures, and commitments against the budget.

 Prepare regular cost reports, including forecasts, cost variance analysis, and cash flow projections.

 Identify potential cost overruns and recommend corrective actions.


Cost Control:

 Implement cost control measures to ensure that project costs are managed effectively.

 Review and approve project cost allocations and expenditures.

 Monitor changes in project scope, design, or schedule that may impact costs and adjust budgets accordingly.


Risk Management:

 Identify and assess financial risks associated with projects, including cost escalations and unforeseen expenses.

 Develop and implement strategies to mitigate financial risks and control costs.


Collaboration and Communication:

 Work closely with project managers, engineers, and other stakeholders to ensure cost control objectives are met.

 Communicate cost-related information and recommendations to project teams and senior management.


Compliance and Documentation :

 Ensure compliance with company policies, industry standards, and regulatory requirements related to cost management.

 Maintain accurate and up-to-date records of all cost-related activities and documentation.


Qualifications:

 Bachelor’s degree in engineering, Construction Management, Finance, or a related field.

 10+ years of experience in cost control, project management, or a related role in the engineering or water treatment industry.

 Strong knowledge of cost estimation techniques, budgeting, and financial analysis.

 Proficiency in cost control software and tools (e.g., Primavera, SAP, MS Excel).

 Excellent analytical and problem-solving skills.

 Strong communication and interpersonal skills.

 Attention to detail and accuracy in financial reporting.

 Certification in cost management (e.g., CCP, PMP) is a plus

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