OVERVIEW
NEOM is an accelerator of human progress and a vision of what a new future might look like. A region in northwest Saudi Arabia on the Red Sea, NEOM is being built from the ground up to include hyperconnected, cognitive cities, ports, next-generation infrastructure and industries, enterprise zones, research centers, sports and entertainment venues and tourist destinations.
As a destination, it will be a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses and reinventing environmental conservation.
As a workplace, it is a place for people who share our core values of care, curiosity, diversity, passion, respect, and becoming a catalyst for change.
Are you ready to help NEOM find solutions to the world’s most pressing challenges? Are you prepared to create a lasting legacy that benefits generations to come? Then we want to hear from you!
ROLE OVERVIEW
- Strategic leadership role responsible for driving the company's cost planning, budgeting, cost control and driving optimization initiatives ensuring maximum financial performance across all developments.
- Responsible for advising and articulating to executive management on the foreseeable cost of the assigned project(s) and translating project requirements into robust figures with ease, whilst adhering to financial constraints without compromising NEOM’s high standards.
- Responsible for overseeing the management of cost planning advice and expertise to support THE LINE Development team from the conceptual stage through design, construction, and closeout of the assigned project(s).
- Responsible for overseeing the management of all aspects of cost planning and control within property development projects; whereby, expertise and attention to detail are vital in facilitating successful and financially sound outcomes.
- Responsible for maintaining a close liaison with THE LINE Construction Commercial team, the fostering of a collaborative relationship, and maintaining communication cadence to ensure that cost control remains a priority.
KEY ACCOUNTABLITIES AND ACTIVITIES
- Develop and implement comprehensive cost planning strategies aligned with the company's overall business objectives.
- Establish and maintain accurate cost models and databases to support decision-making.
- Conduct in-depth cost analyses to identify potential cost-saving opportunities and risks.
- Lead and develop comprehensive cost plans and estimates for new development projects, including land acquisition, design, construction, and financing costs.
- Analyze historical cost data, market trends, and industry benchmarks to establish accurate cost models.
- Utilize advanced cost estimating software and techniques to optimize cost projections.
- Develop contingency plans to address potential cost risks and uncertainties.
- Responsible for ensuring the cost planning team work closely with the THE LINE Development team to develop accurate cost estimates for each phase of the project, maintaining communication cadence with THE LINE Construction Commercial team to ensure cost control remains a priority.
- Prepare detailed project budgets, including direct and indirect costs, labor, materials, and equipment, allocating funds to various cost categories.
- Monitor actual costs against budgeted amounts, identifying variances and taking corrective actions, providing regular updates to senior management.
- Develop accurate forecasts for future project costs and overall company expenses.
- Implement robust cost control measures to minimize variances from the approved budget.
- Track and analyze cost trends to identify potential issues and take corrective actions.
- Conduct regular cost reviews and audits to ensure compliance with company policies and industry standards.
- Identify and assess potential cost risks and develop mitigation strategies.
- Monitor market fluctuations, commodities, economic conditions, regulatory changes, supply chain disruptions and market volatility to anticipate potential cost impacts.
- Implement robust risk management processes to ensure financial stability.
- Collaborate with project teams to proactively manage risks and uncertainties.
- Lead and mentor a team of cost planning professionals.
- Excellent communication and presentation skills.
- Have a strategic mindset and a passion for driving operational excellence.
- Foster a culture of continuous improvement and innovation within the team.
- Provide guidance and support to team members to achieve their goals.
- Build strong relationships with key stakeholders, including Development, Design and Projects delivery.
- Effectively communicate complex financial information to diverse audiences.
- Collaborate with external consultants and experts as needed.
- Required to focus on development cost planning rather than more traditional construction cost planning.
Culture and Values
- Embrace NEOM’s culture and Values https://www.neom.com/en-us/about.
- Act with honesty and integrity by following best practices, and upholding the robust standards and expectations set out in NEOM’s Code of Conduct.
- Maintain fair, ethical and professional work practices in accordance with NEOM’s Values and Code of Conduct.
- Adhere to NEOM’s Policies, procedures, and controls to ensure compliance with rules.
EXPERIENCE & QUALIFICATIONS
KNOWLEDGE, SKILLS AND EXPERIENCE
- 12+ years of relevant full-time work experience.
- Strong knowledge of the construction process, including construction estimating, design parameters and applicable codes and regulations, as applied to engineering/building projects.
- Proven track record of successful project delivery, including cost control and risk management.
- The ability to work under pressure to meet set goals, budgets, and deadlines and to work to individual objectives, in addition to being a strong team player.
- Strong analytical, lateral, and critical thinking skills with an attention to detail.
- Skilled in creating educated guesses rather than reacting to whatever comes through from stakeholders.
- Willing and able to be a "doer" and "influencer".
- Excellent time management organization and focus on ability to prioritise and multi-task, with the ability to focus on detail.
- Excellent communication skills with the ability to draft and edit a variety of written reports and communications and to articulate ideas clearly and concisely.
- Strong character traits to be able to convey opinions to development management team and other stakeholders.
- Proficiency in relevant software applications, including cost estimating software, financial analysis tools and project management software.
QUALIFICATIONS
- Bachelor's degree in Surveying, Engineering, building related, or closely related.
- Preferably Chartered (RICS, CICES, CIOB).
- Experience of working in a fast-paced development team is advantageous.
