Cost Specialist - Project Cost Control

Cost Specialist
- Project Cost Control Job Snapshot Role:
Cost Specialist
- Project Cost Control

Location:

Riyadh, Saudi Arabia Industry: Construction Function:
Cost Estimating

Experience:

0-2 years in budgeting, forecasting, cost control, or financial reporting Job Type: Full-time

Position Overview Cost Specialist
- Project Cost Control in Riyadh, Saudi Arabia is an early-career Construction opportunity focused on budgeting, cost forecasting, earned value analysis, financial reporting, invoicing, and project performance monitoring. Parsons Corporation is hiring a Saudi National Cost Specialist to support major engineering and construction programs by maintaining reliable cost baselines, tracking expenditure and revenue, analyzing variances, and providing project leadership with accurate financial information for planning and decision-making.

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:
Saudi National Job Type: Full-time

The Cost Specialist will support the financial control of complex projects by connecting budgets, actual expenditure, revenue, resource planning, invoicing, forecasting, and earned value information within a structured project controls environment. Working closely with Project Managers, planners, finance teams, and other disciplines, the role will help maintain dependable cost data and provide early visibility of deviations from approved baselines. The position offers practical exposure to the commercial and financial mechanics of major projects while developing strong project controls capabilities.

• Coordinate with project, finance, planning, and other departments to ensure costs are accurately allocated to the correct projects.
• Maintain complete visibility of expenditure, commitments, revenue, and financial performance for the cost control team.
• Establish baseline budgets for resources, revenue, and project costs using an appropriate Work Breakdown Structure.
• Coordinate budget development with Project Managers, schedulers, finance personnel, and technical disciplines.
• Establish resource and revenue projections based on approved project plans and delivery requirements.
• Analyze actual cost performance against approved baselines and current forecasts.
• Prepare weekly and monthly project cost tracking reports.
• Produce cost forecasts and regularly update expected final project expenditure.
• Identify deviations from cost baselines and investigate the underlying causes of significant variances.
• Recommend corrective measures when financial performance differs from planned targets.
• Use historical performance data and cost trends to support realistic planning and forecasting.
• Participate in monthly and quarterly project performance reviews.
• Assist project teams in preparing explanations and supporting information for cost and revenue variances.
• Provide financial analysis to support project management decisions.
• Prepare earned value and cost performance information for inclusion in project controls reports.
• Monitor project budgets and ensure approved cost limits remain visible throughout delivery.
• Support invoicing activities and track financial status against planned revenue.
• Maintain change control information and assess the potential cost implications of project changes.
• Support preparation of project forecasts covering resource demand, revenue, expenditure, and cash requirements.
• Coordinate with planning personnel to align schedule progress with cost performance.
• Analyze project status against established baselines and identify trends requiring management attention.
• Support the Project Director in reviewing and finalizing project business plans.
• Provide cost control input to business planning, budgeting, and project performance discussions.
• Attend Client meetings and provide accurate cost information when requested.
• Prepare statistical reports, cost summaries, dashboards, and supporting management information.
• Assist in configuring project control systems and reporting structures to meet project-specific requirements.
• Verify that project cost data is complete, traceable, and suitable for management reporting.
• Use Microsoft Excel to analyze project financial data, identify trends, and prepare detailed cost reports.
• Develop or maintain Power BI dashboards that improve visibility of project cost and financial performance.
• Help resolve…