Senior Cost Manager - CAPEX and Cost Assurance

Senior Cost Manager - CAPEX and Cost Assurance Job Snapshot Role:
Senior Cost Manager - CAPEX and Cost Assurance

Location:

Riyadh, Saudi Arabia Industry: Construction Function:
Cost Estimating

Experience:

15 years in cost management, quantity surveying, commercial management, or project controls Job Type: Full-time

Senior Cost Manager - CAPEX and Cost Assurance in Riyadh, Saudi Arabia is a senior Construction opportunity for an experienced cost professional with deep expertise in major capital projects, CAPEX governance, forecasting, cost assurance, change management, contingency control, and financial reporting. Parsons Corporation is hiring a senior cost leader to provide independent cost advice to the Client, maintain control of large-scale budgets, strengthen cost governance, and ensure project expenditure remains aligned with approved scope, priorities, and overall program objectives.

Country:
Saudi Arabia City:
Riyadh Industry: Construction Function:
Cost Estimating Salary:  Estimated salary range based on similar jobs in the job city; please confirm the final offer with the employer. Gender: Any Candidate Nationality:
Any Job Type: Full-time

The Senior Cost Manager will act as a key financial and commercial advisor across the project lifecycle, connecting technical delivery decisions with their budgetary and CAPEX consequences. The role requires independent scrutiny of cost data, contractor forecasts, consultant submissions, changes, contingencies, and projected outturn costs so that the Client has a reliable view of financial performance at all times. Strong governance and forward-looking analysis will be central to identifying cost pressure early, protecting approved budgets, and supporting informed investment decisions.

• Advise the Client on project CAPEX, approved budgets, expenditure, commitments, forecasts, and anticipated final cost.
• Support establishment and governance of project and program cost baselines.
• Review cost plans, estimates, financial assumptions, budgets, and forecast models for completeness and credibility.
• Monitor actual expenditure, commitments, accruals, forecasts, and projected final costs against approved funding.
• Identify potential budget overruns, cost pressures, and financial exposure at an early stage.
• Recommend practical cost optimization, funding allocation, and financial risk mitigation measures.
• Maintain clear visibility of the overall CAPEX position across packages, work streams, and delivery stages.
• Lead ongoing review of expenditure profiles, commitments, accruals, and final account projections.
• Develop CAPEX dashboards and senior-level cost reporting for Client and project leadership.
• Analyze material cost movements and explain variances against approved budgets and baselines.
• Assess the financial effect of scope development, design evolution, schedule changes, procurement strategies, and project risks.
• Provide independent cost assurance over information submitted by contractors, consultants, and project teams.
• Reconcile cost data across multiple packages to prevent duplication, omissions, or inconsistent assumptions.
• Review monthly cost reports, forecasts, commitments, accruals, and expenditure data.
• Challenge contractor and consultant forecasts in coordination with senior commercial leadership.
• Produce forward-looking analysis of expected final project cost and emerging financial trends.
• Review cost-loaded schedules and confirm alignment between cost reporting and program performance.
• Analyze budget variances and work with delivery teams to define corrective and mitigation actions.
• Establish cost coding structures, cost breakdown structures, and reporting hierarchies that support traceable financial control.
• Integrate cost information with planning, procurement, change, commercial, and risk management processes.
• Review the cost impact of proposed variations, claims, scope changes, and design development before approval.
• Determine whether proposed changes can be absorbed within approved budgets or contingency allowances.
• Monitor cumulative changes and quantify their effect on overall CAPEX and projected outturn cost.
• Verify that change-control submissions include sufficient cost substantiation and supporting evidence.
• Identify emerging changes and potential financial liabilities before they become committed costs.
• Support effective contingency governance and advise on appropriate contingency utilization.
• Work closely with leadership, finance, commercial, procurement,…