Project Cost Control Specialist - Budgeting and Financial Reporting

Project Cost Control Specialist
- Budgeting and Financial Reporting Job Snapshot
- Role:
Project Cost Control Specialist

- Location:

Riyadh, Saudi Arabia
- Industry: Engineering
- Function:
Budgeting/Cost Control

- Experience:

Minimum 10 years
- Job Type: Full Time
- Work Arrangement:
On-site Position Overview Parsons is seeking an experienced Project Cost Control Specialist to support project budgeting, cost monitoring, financial forecasting, and performance reporting in Riyadh, Saudi Arabia. In this role, you will help maintain accurate project budgets and forecasts, track financial commitments and expenditures, analyze cost variances, and prepare reports that support effective project management decisions. You will work closely with Project Managers, Project Controls Managers, Senior Project Control Engineers, finance teams, consultants, and other stakeholders to ensure project costs are accurately recorded, monitored, and reported.

The position requires strong knowledge of project cost control, Earned Value Management, cash-flow forecasting, invoicing, and financial reporting, together with advanced Microsoft Excel skills and the ability to communicate complex financial information clearly.

Job Details
- Country:
Saudi Arabia
- City:
Riyadh
- Industry: Engineering
- Function:
Budgeting/Cost Control
- Salary:
Not disclosed
- Gender: No Preference
- Candidate Nationality:
Not specified
- Job Type: Full Time
- Work Arrangement:
On-site

• Monitor project budgets, allowances, commitments, expenditures, actual costs, change orders, and financial forecasts.
• Establish baseline budgets for project resources, revenue, and costs in coordination with the Project Manager.
• Apply an appropriate Work Breakdown Structure (WBS) to organize and monitor project budgets.
• Track financial performance against approved cost baselines and identify significant variances.
• Coordinate with the Project Controls Manager to review cost deviations and support corrective actions.
• Maintain accurate cost-control information throughout project execution.
• Support Senior Project Control Engineers and Project Controls Managers in developing and updating project budgets and forecasts.

• Prepare and maintain project cost forecasts based on current financial information and performance trends.
• Develop and update program-level cash-flow forecasts using historical data and relevant cost trends.
• Monitor forecast changes and assess their impact on project financial performance.
• Track labor, consultant, subconsultant, and other project-related costs.
• Maintain accurate records of actual expenditures, commitments, and anticipated costs.
• Support financial planning by providing reliable cost information and forecast updates.
• Identify and explain differences between approved budgets, actual costs, and projected expenditures.

• Apply Earned Value Management (EVM) principles to assess project cost performance.
• Calculate and report Earned Value (EV), Estimate at Completion (EAC), and Estimate to Complete (ETC).
• Analyze financial performance against established project baselines.
• Identify cost trends and potential budget concerns.
• Prepare cost variance analyses and supporting explanations for management reviews.
• Coordinate with project controls personnel to evaluate performance information and recommended actions.
• Present cost performance findings in a clear and accurate manner.

• Prepare and update weekly and monthly project cost reports.
• Develop financial status reports, cost-control dashboards, spreadsheets, and management presentations.
• Maintain accurate reporting information for project reviews and management discussions.
• Use Microsoft Excel to analyze financial data and prepare structured reports.
• Support the use of Power BI for basic reporting and dashboard activities.
• Prepare cost summaries and financial information for project management and senior stakeholders.
• Ensure financial reports are accurate, consistent, and submitted within established deadlines.

• Review subcontractor and consultant payment applications.
• Coordinate monthly invoicing activities with relevant project and finance personnel.
• Support invoice preparation and billing processes.
• Assist with collection-related coordination and follow-up activities.
• Maintain records of payment applications, invoices, and associated…