Cost Engineer

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Job Description We are seeking an experienced and analytically rigorous Cost Engineer to join our dynamic project controls team in Makkah, Saudi Arabia. In this role, you will take ownership of project cost management, driving budget performance and ensuring financial accountability across all phases of our engineering, procurement, and construction initiatives. You will work collaboratively with cross-functional teams to deliver transparent, accurate cost reporting and drive informed decision-making throughout the project lifecycle. This is an excellent opportunity for a seasoned professional who thrives in a fast-paced, goal-oriented environment and is committed to supporting project success through meticulous cost management, strategic analysis, and continuous process improvement.

• Take ownership of cost tracking, commitments, actuals, and incurred costs against approved budgets, ensuring accuracy and transparency across all project phases
• Monitor and analyse cost performance throughout engineering, procurement, construction, and commissioning stages, identifying variances, trends, and emerging risks
• Validate invoices, progress claims, and contractor payment applications against work performed with rigorous attention to detail, supporting cost claim management and dispute resolution
• Prepare comprehensive weekly and monthly cost reports, including detailed cost summaries, variance analysis, and forecast updates tailored to stakeholder requirements
• Proactively highlight cost trends, deviations from budget, and potential risks to project stakeholders, supporting strategic decision-making and mitigation planning
• Lead the preparation of cash flow forecasts and cost-to-complete analyses, applying advanced forecasting methodologies to guide project planning and resource allocation
• Evaluate and analyse change notices, change orders, and emerging trends, assessing their cost impacts and supporting change management processes
• Assess cost implications of scope changes, schedule delays, and productivity variances, providing data-driven recommendations to project leadership
• Maintain accurate change management logs and ensure strict alignment with established project controls procedures and governance frameworks
• Lead Earned Value Management (EVM) calculations and drive integration between cost and schedule metrics, ensuring alignment across project controls disciplines
• Conduct in-depth analysis of cost and schedule variances, preparing performance indices (CPI, SPI) and trend forecasts for stakeholder review and strategic planning
• Collaborate strategically with planning teams to ensure accurate progress measurement, cost tracking, and integrated project controls
• Maintain and optimise project cost databases with meticulous attention to data accuracy, integrity, and accessibility
• Lead implementation and optimisation of cost control software and tools, including Excel, ERP systems, and project controls platforms, driving process improveme