Job Description:

Parsons is looking for an amazingly talented Senior Cost Engineer to join our team! In this role you will get to work on one of the fastest growing projects in the kingdom. The Senior Cost Engineer is responsible for evaluating and managing the financial aspects of construction projects. This role involves analyzing project costs, preparing cost estimates, monitoring budgets, identifying variances and ensuring that projects are completed within their financial constraints. The successful candidate will work closely with project managers, contractors, and stakeholders to provide accurate financial information and support decision-making processes.

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.