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Job Description:

Parsons is seeking a highly skilled Cost Specialist (CAPEX/O&M) to support the successful execution of major rail infrastructure projects in the UAE. This role plays a critical part in overseeing capital expenditures (CAPEX) and operational & maintenance (O&M) costs, ensuring accurate cost control, financial planning, and budget management throughout the project lifecycle.

Reporting directly to the Commercial Director, the Cost Specialist will be responsible for tracking, analyzing, and optimizing project costs, providing strategic financial insights, and ensuring compliance with contractual and regulatory requirements. The ideal candidate will have extensive experience in cost management, forecasting, and financial reporting within large-scale rail or infrastructure projects.

What You'll Be Doing:

• Oversee and manage all aspects of cost control for CAPEX and O&M phases of rail projects, ensuring financial discipline and budget alignment.

• Develop, maintain, and update detailed cost estimates, financial forecasts, and cash flow projections to support project planning and execution.

• Conduct cost estimation, cost-benefit analysis, and financial modeling for both capital expenditures and long-term operational costs.

• Identify potential financial risks related to cost overruns, delays, and operational inefficiencies; implement strategies to mitigate these risks.

• Prepare and present cost reports, financial statements, and variance analysis to senior management, ensuring compliance with contractual obligations, financial regulations, and industry best practices.

• Support procurement teams by assessing cost implications of supplier/vendor contracts, verifying compliance with project budgets, and advising on cost-effective sourcing strategies.

• Compare project costs against industry benchmarks and historical data to identify cost-saving opportunities and drive efficiency improvements.

• Evaluate change orders, claims, and variations in project scope, ensuring their financial impact is properly assessed and documented.

• Work closely with project managers, engineers, finance teams, and external consultants to ensure cost control measures are aligned with project goals.

• Utilize cost management software (such as Primavera P6, SAP, CostX, or similar) to maintain accurate cost tracking and reporting

What Required Skills You'll Bring:

• Bachelor’s degree in Finance, Quantity Surveying, Civil Engineering, Construction Management, or a related field.

• A Master’s degree or professional certification (e.g., RICS, CCP, PMP, AACE, or CMA) is highly preferred.

• 15+ years of experience in cost management, financial planning, and cost control within large-scale rail, transportation, or infrastructure projects.

• Strong expertise in CAPEX planning, O&M cost analysis, and life-cycle cost modeling for complex engineering project.

• Proven ability to analyze financial data, generate reports, and forecast project costs using advanced cost estimation techniques.

• Experience working with contractual frameworks (FIDIC, NEC, or similar) and knowledge of cost implications of change orders and claims management.

• Proficiency in cost management tools such as Primavera P6, SAP, CostX, MS Excel (advanced), or equivalent financial software.

Skills / Competencies:

• Strong analytical skills with the ability to interpret complex financial data and provide strategic insights.

• Excellent communication and presentation skills, capable of conveying financial concepts to non-financial stakeholders.

• Keen attention to detail and accuracy, ensuring cost estimates and financial reports are precise and well-documented.

• Problem-solving mindset, with the ability to assess risks and propose cost-effective solutions.

• Ability to work under pressure, meet tight deadlines, and manage multiple tasks in a fast-paced project environment.

• Collaborative approach, working effectively with multidisciplinary teams across different project phases.

• Ability to interface effectively with all levels of the project team, clients, and other stakeholders.

• Skilled in reading, analyzing, and interpreting complex documents.

• Capable of responding effectively to sensitive inquiries or complaints.

• Ability to apply principles of logical or scientific thinking to a wide range of support function problems.

• Ability to function in a multi-organizational environment by developing relationships that comply with the client’s proactive, collaborative culture.

Parsons equally employs representation at all job levels no matter the race, color, religion, sex (including pregnancy), national origin, age, disability or genetic information.

We truly invest and care about our employee’s wellbeing and provide endless growth opportunities as the sky is the limit, so aim for the stars! Imagine next and join the Parsons quest—APPLY TODAY!

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