Creating and monitoring project budgets and expenses. Ensure the project is completed within the allocated budget by implementing effective cost-control measures. Study and analyze changes and variations to the contractual items. Prepare and submit reports to the management.

RESPONSIBILITIES

• Cost Budget Creation: coordinating with the related departments and engineers and being responsible for project cost budget creation covering all types of resources; material, manpower, equipment, …etc. Maintain and allocate cost codes properly to the cost items.
• Cost Monitoring: monitor and track the actual costs incurred against the budgeted amounts throughout the project. Review invoices, purchase orders, and other financial documents to ensure accuracy and identify any discrepancies.
• Variance Analysis: perform variance analysis by comparing actual and budgeted costs. Investigate the reasons for any cost overruns or savings and provide detailed reports to project stakeholders. Identify areas where corrective actions may be required to bring the project back on track financially.
• Change Order Management: evaluates change orders and assesses their impact on project costs. Provide recommendations to the project team regarding the cost implications and negotiate with vendors and subcontractors to ensure fair pricing.
• Forecasting: forecast the remaining costs required to complete the project based on the project's progress and cost analysis. Assess potential risks and propose strategies to mitigate cost overruns or delays.
• Reporting: prepare regular reports on project costs, budget status, and financial performance, and share them with project managers, clients, and other stakeholders to provide transparency and enable informed decision-making.
• Cost Control Strategies: Identify and implement cost-saving measures and efficiency improvements. Collaborate with project teams to explore alternative materials, methods, or suppliers that can reduce costs without compromising quality.
• Contract Management: contract administration by reviewing contract terms and conditions related to cost control. Ensure that contractors and subcontractors adhere to the agreed-upon financial terms and resolve any billing or payment disputes.
• Cost Database Maintenance: maintain databases and documentation related to project costs. Update cost records, including actual expenses, cost estimates, change orders, and any other relevant financial information for future reference and analysis.

REQUIREMENTS

• BSc Degree in Engineering subject or equivalent
• Minimum of 7 years cost engineering experience in similar field
• Competent in all MS Office applications
• Good communication skills in English language - written and verbal
• Excellent technical numeracy
• Excellent time management and planning skills
• PMP certificate is preferred
• Preferred to have experience in ERP systems