Senior Cost Engineer

Location: Jeddah, Saudi Arabia

Job Category: Construction & Real Estate;
Engineering & Technical;
Finance & Accounting

A contracting company is seeking a highly experienced and results-oriented Senior Cost Engineer to join its project team in Jeddah, Saudi Arabia. The role focuses on project cost management, budget control, financial forecasting, and cost performance analysis to ensure construction and infrastructure projects are delivered within approved budgets and contractual requirements.

The successful candidate will oversee project cost baselines, monitor expenditures, prepare cost reports, and develop cash flow projections and Estimate at Completion (EAC) forecasts. The position requires extensive experience in construction cost engineering, financial modeling, change management, and Earned Value Management (EVM), including the use of Cost Performance Index (CPI) and Schedule Performance Index (SPI) to evaluate project performance.

Candidates with 10–20 years of professional experience in project cost engineering and a bachelor’s degree in Civil Engineering or a related discipline are encouraged to apply. This opportunity offers scope for professional development in project financial management, cost optimization, forecasting, and strategic project controls within the construction and infrastructure sector.

• Oversee project cost management and cost control activities throughout the project lifecycle.
• Establish, maintain, and monitor project cost baselines and approved budgets.
• Prepare detailed cost estimates, financial forecasts, and expenditure projections.
• Monitor actual project expenditure against approved budgets and identify variances.
• Prepare periodic cost reports, cash flow projections, cost-to-complete forecasts, and EAC reports.
• Analyze cost performance and recommend corrective measures to address budget deviations.
• Apply Earned Value Management (EVM) principles and monitor CPI, SPI, and other relevant performance indicators.
• Assess the financial impact of variation orders, contractual changes, and scope adjustments.
• Support project budget reviews and financial planning activities.
• Use Microsoft Excel for financial modeling, data analysis, and cost reporting.
• Utilize project management and cost control systems to improve reporting and monitoring.
• Coordinate with project managers, quantity surveyors, planning engineers, procurement teams, and finance departments.
• Identify opportunities to improve cost efficiency and support informed project decisions.
• Maintain accurate cost documentation and ensure reporting aligns with contractual and project requirements.

• Bachelor’s degree in Civil Engineering or a related engineering discipline.
• 10–20 years of professional experience in project cost engineering, cost management, and cost control.
• Proven experience in construction and infrastructure projects, preferably large-scale or complex developments.
• Strong knowledge of project budgeting, cost estimation, forecasting, and expenditure monitoring.
• Extensive experience preparing cost reports, cash flow projections, cost-to-complete forecasts, and EAC reports.
• Ability to establish cost baselines, identify budget deviations, and recommend corrective measures.
• Familiarity with Earned Value Management and cost performance indicators, including CPI and SPI.
• Good understanding of construction contracts, variation orders, change management, and associated financial implications.
• Advanced proficiency in Microsoft Excel, financial modeling, and data analysis.
• Familiarity with Primavera P6, Power BI, or ERP platforms is an advantage.
• Strong analytical, problem-solving, communication, and reporting skills.
• Ability to coordinate effectively with multidisciplinary project teams.
• Immediate availability or a short notice period is preferred.

The salary package and employee benefits have not been specified in the original job description. Candidates should confirm compensation, allowances, and other employment terms with the recruitment team.

This position offers opportunities to strengthen expertise in project financial management, cost forecasting, budget optimization, and project controls. Continued professional development in EVM, advanced cost reporting, financial modeling, and project management systems can support career progression into Lead Cost Engineer, Project Controls Manager, or Cost Management Manager positions.