Cost Engineer Work In saudi arabua

Cost Estimation & Budgeting:

• Prepare detailed cost estimates for projects, including materials, labor, equipment, and subcontractor costs.
• Develop and monitor project budgets, ensuring alignment with financial constraints and forecasts.
• Identify cost-saving opportunities without compromising quality or project objectives.

2. Cost Tracking & Analysis:

• Monitor actual costs vs. budgeted costs, identifying variances and potential risks.
• Conduct cost trend analysis and report deviations to management.
• Maintain cost breakdown structures (CBS) for accurate financial reporting.

3. Financial Reporting & Documentation:

• Generate weekly/monthly cost reports and present key findings to stakeholders.
• Maintain detailed cost records for auditing and reference purposes.
• Support the forecasting and cash flow analysis process to ensure financial stability.

4. Risk Management & Cost Control:

• Identify potential financial risks and recommend strategies to mitigate them.
• Ensure that project expenditures comply with contractual obligations and company policies.
• Assist in the review of change orders, claims, and contract variations.

5. Collaboration & Coordination:

• Work closely with procurement, finance, and project teams to align cost management strategies.
• Review supplier and subcontractor invoices to ensure cost accuracy.
• Support cost negotiations and provide recommendations for cost efficiency.

6. Process Improvement & Compliance:

• Implement cost control procedures and best practices to enhance project financial management.
• Stay updated on industry trends, inflation rates, and cost estimation techniques.
• Ensure compliance with financial regulations, contract terms, and internal policies