Cost Control Engineer

Cost Control Engineer

Location:

Project-Based

The Cost Control Engineer is responsible for planning, monitoring, and controlling project costs to ensure projects are completed within approved budgets. The role involves cost forecasting, variance analysis, reporting, and supporting project management by providing accurate financial and performance information to facilitate informed decision‑making. The incumbent will ensure compliance with company procedures and client requirements while contributing to the continuous improvement of cost control systems.

• Prepare and maintain project cost control plans, budgets, and cost breakdown structures.
• Develop project cost baselines in coordination with project planning and engineering teams.
• Establish cost coding structures aligned with the Work Breakdown Structure (WBS).

• Monitor actual project costs against approved budgets and identify cost variances.
• Analyze committed costs, accrued costs, and booked costs to ensure accurate financial reporting.
• Track project expenditures and recommend corrective actions to maintain budget compliance.
• Perform trend analysis to identify potential cost overruns and savings opportunities.

• Prepare periodic cost forecasts, Estimate at Completion (EAC), Estimate to Complete (ETC), and cash flow projections.
• Develop and issue accurate cost reports for project management and senior leadership.
• Highlight cost deviations, financial risks, and recommend mitigation strategies.

• Monitor project performance using Earned Value Management (EVM) techniques.
• Analyze and report key performance indicators including:
  • Cost Performance Index (CPI)
  • Schedule Performance Index (SPI)
  • Cost Variance (CV)
  • Schedule Variance (SV)
• Develop and issue KPIs related to cost allocation, productivity, resource utilization, and overall project performance.

• Assess the financial impact of project changes, variations, and claims.
• Support change management by preparing cost impact assessments.
• Conduct cost risk analysis and maintain contingency allocations throughout the project lifecycle.

• Review subcontractor and supplier costs to ensure compliance with project budgets.
• Assist in evaluating cost proposals, payment applications, and procurement expenditures.

• Participate in developing and improving cost control procedures, templates, and reporting systems.
• Ensure accurate cost coding and compliance with company financial procedures.
• Utilize ERP systems to maintain project cost records and reporting accuracy.

• Coordinate with project managers, planners, quantity surveyors, procurement, finance, and engineering teams to validate project cost information.
• Provide guidance and training to junior cost engineers.
• Contribute to the continuous improvement of project cost control processes and best practices.

• Bachelor's Degree in Engineering or a related discipline.
• Minimum 5 years of experience in project cost control.
• Proven experience in construction, road, and infrastructure projects.
• Mandatory experience in Ashghal Road Projects.
• Strong understanding of project cost management principles, budgeting, forecasting, and earned value analysis.
• Experience using JD Edwards (JDE) ERP System
  .
• Training or certification in cost control software and forecasting techniques is preferred.
• Proficiency in Microsoft Excel and project reporting tools.

• Strong analytical and problem‑solving skills.
• Excellent numerical and financial analysis capabilities.
• Knowledge of Earned Value Management (EVM).
• Strong reporting and presentation skills.
• Ability to work effectively in multidisciplinary project teams.
• Excellent communication and coordination skills.
• High level of accuracy and attention to detail.
• Ability to manage multiple priorities in a fast‑paced project environment.
• Strong organizational and time management skills.