Cost Engineer

Black & Grey HR is hiring for a dynamic construction company in KSA. Our client is looking to hire a Value Engineer who will be responsible for managing project costs, ensuring budgets are adhered to, and providing accurate forecasts. This role includes estimating costs, monitoring expenditures, and analyzing financial data to support decision-making and improve cost efficiency. The Value Engineer works with project teams to ensure projects are delivered within financial constraints and align with company objectives.

Key Responsibilities:

1. Prepare accurate cost estimates during the project's feasibility and design stages to clarify financial needs.
2. Develop project budgets based on scope, resources, and market conditions.
3. Work with project managers to finalize budgets and ensure alignment with project goals.
4. Monitor project spending to keep it within the approved budget.
5. Analyze cost variances and take corrective actions when needed.
6. Suggest cost-saving strategies to improve efficiency and reduce waste.
7. Provide regular cost reports and forecasts to track financial progress.
8. Generate cash flow projections and forecasts for each project phase.
9. Present financial updates to the Planning & Cost Manager and senior management for decision-making.
10. Help prepare tender documents and evaluate contractor bids for accurate cost assessments.
11. Analyze the cost impact of procurement decisions for materials, equipment, and services.
12. Support contract negotiations with accurate cost data and recommendations.
13. Identify cost risks and propose strategies to minimize financial impact.
14. Evaluate financial impacts of project changes through "what-if" scenarios.
15. Monitor contingency allowances and suggest adjustments to protect the budget.
16. Work with project teams, procurement staff, and vendors to align costs with project goals.
17. Collaborate with the Planning Engineer to integrate cost data into schedules for better planning.
18. Keep all stakeholders informed about cost implications to ensure transparent communication.
19. Continuously improve cost management processes, tools, and practices for better efficiency.
20. Stay updated on industry trends, cost estimation techniques, and market pricing to apply best practices.

Requirements

1. Bachelor’s degree in Civil Engineering, Construction Management, Quantity Surveying, or related field.
2. 3-5 years in cost engineering or cost control, preferably in construction or real estate.
3. Cost engineering certification (e.g., CCP by AACE) is a plus.
4. Proficiency in cost management tools (e.g., CostX, Primavera), advanced Excel skills, and strong understanding of budgeting and financial analysis.
5. Strong analytical, problem-solving, and organizational skills.
6. Attention to detail, effective communication, and negotiation abilities.
7. Proactive, results-driven with the ability to work under pressure.

Benefits

Attractive Salary + Benefits.