Cost Control Engineer

Role Overview

The Cost Control Engineer is tasked with overseeing project budgeting, expenditure monitoring, and cost variance analysis to ensure projects remain within authorized financial limits. The position involves enforcing cost control protocols, optimizing allocation of resources, and minimizing financial risks to uphold project profitability and meet fiscal goals.

Key Responsibilities

• Collaborate with project managers and stakeholders to develop and sustain project budgets.
• Track project spending in relation to approved budgets and identify any potential budget overruns.
• Conduct variance analyses to detect cost deviations and propose corrective measures.
• Generate regular reports detailing project financial status, including comparisons of budgeted versus actual costs and future cost forecasts.
• Help identify risks and opportunities related to costs and contribute to plans mitigating these risks.
• Ensure compliance with cost control procedures, company policies, and relevant financial regulations.
• Coordinate cost control activities with project teams such as engineering and procurement to ensure alignment with project goals.
• Maintain accurate cost tracking systems documenting all project expenses.
• Assist in refining cost control methodologies and adopting best practices to enhance efficiency.
• Support Health, Safety, and Environmental (HSE) initiatives and adhere to company safety and Integrated Management System (IMS) policies.

Required Knowledge and Skills

• Preferred familiarity with cost estimating tools like CCS (Candy).
• Understanding of cost management principles including estimation and change control processes.
• Proficient in Microsoft Office; experience with Primavera P6 is advantageous.
• Knowledge of multi-project resource planning.
• Fundamental understanding of project management techniques and principles.
• ERP experience, preferably with SAP, is beneficial.

Experience and Education

• At least 3 to 5 years of relevant experience in cost control or project financial management.
• Experience working in the GCC region is a plus.
• Bachelor’s degree in Civil Engineering or a closely related engineering field.