Cost Control Engineer

Role Overview

The Cost Control Engineer plays a crucial part in overseeing project budgets, tracking expenses, and analyzing any cost discrepancies to guarantee projects are executed within the set financial limits. This position supports the enforcement of cost control procedures, enhances resource distribution, and manages financial risks to uphold project profitability and conformity with fiscal goals.

Key Responsibilities

• Collaborate with project managers and relevant stakeholders to devise and update project budgets.
• Keep track of project spending relative to approved budgets and flag any possible overspending.
• Conduct variance analyses to spot cost deviations and suggest corrective measures.
• Generate regular financial performance reports detailing budget versus actual spending and future cost projections.
• Assist in identifying financial risks and opportunities related to costs and support mitigation strategies.
• Ensure compliance with cost control standards, company regulations, and financial policies.
• Liaise with project teams including engineering and procurement to ensure cost control efforts align with overall project goals.
• Maintain systems for cost tracking and ensure precise documentation of project costs.
• Contribute to enhancing cost control processes by applying industry best practices for improved efficiency.
• Adhere to Health, Safety, and Environmental (HSE) initiatives and company safety and IMS policies.

Required Skills and Knowledge

• Familiarity with cost estimation tools like CCS (Candy) is preferred.
• Good understanding of cost management, estimation, and change control procedures.
• Competency with Microsoft Office suite; knowledge of Primavera P6 is beneficial.
• Experience with multi-project resource planning.
• Basic grasp of project management methodologies and techniques.
• ERP system knowledge, especially SAP, is an advantage.

Experience and Education

• At least 3 to 5 years of experience relevant to cost control or project financial management.
• Experience in the Gulf Cooperation Council (GCC) region is considered an advantage.
• A Bachelor’s degree in Civil Engineering or a related engineering field is required.