Cost Manager

About the Company

Go Tech consists of businesses operating in the construction (https://gotech.ae/), facility management and Fit Out. The group has experienced significant growth over the last 2 years and is poised to continue this rapid expansion with opportunities already identified as part of the groups strategic vision. Go Tech is part of the 360 Holding conglomerate (https://www.360holding.ae/) and works closely with its affiliated businesses engaged in education (LFJM and 360 schools), business consultancy services (360 Consultancy) and DIFC based fund management (Tharaa).

Position: Cost Manager

Industry: Construction / Contracting

Reports To: Project Director/Project Manager

Job Summary

The Cost Manager will be responsible for managing and controlling the financial performance of construction projects throughout the project lifecycle. The role will oversee project budgeting, cost planning, forecasting, valuations, variations, commitments, and commercial reporting to ensure projects are delivered within approved budgets and financial targets.

The Cost Manager will work closely with Project Managers, Quantity Surveyors, Contracts, Procurement, Finance, Consultants, Subcontractors, and site teams to monitor project costs, identify financial risks and opportunities, and support effective commercial decision-making.

Key Responsibilities:

1. Project Cost Management

• Develop, establish, and maintain comprehensive project cost management and control systems.
• Prepare project budgets, cost plans, and cost breakdown structures in coordination with the project and commercial teams.
• Monitor actual project expenditure against approved budgets and contractual allowances.
• Track committed costs, actual costs, accruals, provisions, and projected expenditure.
• Ensure costs are correctly allocated to relevant projects, cost codes, work packages, and activities.
• Monitor labour, materials, plant, subcontractor, supplier, and other project-related costs.
• Identify cost overruns and potential financial issues at an early stage and recommend corrective actions.
• Ensure effective cost control throughout the project lifecycle.

2. Budgeting & Cost Planning

• Prepare initial project cost plans and detailed budgets.
• Establish cost baselines and monitor performance against approved budgets.
• Review project budgets regularly and recommend adjustments where required.
• Support project teams in developing cost-effective construction strategies.
• Analyse project scope, drawings, specifications, and programmes to identify cost implications.
• Monitor changes in project scope and assess their financial impact.

3. Cost Forecasting

• Prepare monthly and periodic cost forecasts for construction projects.
• Maintain accurate Estimate at Completion (EAC) and Cost to Complete (CTC) forecasts.
• Analyse current project performance and forecast the final project cost.
• Identify trends and potential cost overruns before they occur.
• Provide management with accurate financial forecasts to support decision-making.
• Review forecast assumptions with Project Managers, Quantity Surveyors, and Finance teams.

4. Variations & Change Management

• Monitor all project variations, change orders, additional works, omissions, and scope changes.
• Review and assess the cost impact of variations and proposed changes.
• Maintain a comprehensive variation/change register.
• Coordinate with Quantity Surveyors, Contracts, Consultants, and Project Managers on variation submissions and approvals.
• Track approved, pending, rejected, and potential variations.
• Ensure all variations are properly supported with relevant documentation.
• Monitor the financial impact of variations on project budgets and profitability.

5. Valuations & Payment Certification

• Review and monitor interim valuations and payment applications.
• Coordinate with Quantity Surveyors and commercial teams to ensure accurate project valuations.
• Review subcontractor and supplier payment applications against actual progress and contractual terms.
• Monitor certified amounts, retention, advances, deductions, and outstanding payments.
• Ensure project revenue and costs are accurately reflected in financial reports.
• Assist with preparation and review of final accounts.

6. Subcontractor & Procurement Cost Management

• Monitor subcontractor and supplier commitments against approved project budgets.
• Review purchase orders, subcontract agreements, and committed costs.
• Track subcontractor variations and additional costs.
• Coordinate with Procurement and Contracts teams to ensure commercial commitments are properly recorded.
• Monitor material procurement costs and identify potential cost-saving opportunities.
• Assess subcontractor performance from a cost and commercial perspective.

7. Commercial & Financial Reporting

• Prepare detailed monthly project cost and commercial reports for management.
• Provide analysis of budget versus actual expenditure and committed costs.
• Prepare cost variance analysis and explain significant deviations.
• Report project profitability, cost trends, risks, and opportunities.
• Provide senior management with clear recommendations based on project financial performance.
• Maintain accurate cost reports, dashboards, registers, and supporting documentation.
• Coordinate with Finance to ensure project financial information is reconciled and accurate.

8. Cost Risk & Opportunity Management

• Identify potential financial and commercial risks throughout the project lifecycle.
• Maintain project cost risk and opportunity registers.
• Quantify the potential financial impact of identified risks.
• Work with project teams to develop mitigation and cost-control measures.
• Identify opportunities for cost savings, value engineering, and improved resource utilization.
• Monitor factors such as material price increases, labour costs, delays, productivity, and subcontractor performance that may affect project profitability.

9. Value Engineering & Cost Optimization

• Support value engineering initiatives to achieve cost-effective project solutions without compromising quality, functionality, or specifications.
• Review alternative materials, construction methods, and procurement strategies.
• Identify opportunities to reduce unnecessary expenditure.
• Work with design and technical teams to assess the commercial impact of proposed alternatives.
• Monitor the financial benefits of approved cost-saving initiatives.

10. Project Controls & Coordination

• Work closely with Project Managers, Engineers, Quantity Surveyors, Contracts, Procurement, Finance, and site teams.
• Ensure cost information is aligned with project progress and programme information.
• Monitor project progress against financial milestones.
• Participate in project review meetings and provide commercial input.
• Ensure cost-related issues are escalated promptly to senior management.
• Support management in making informed commercial and operational decisions.

11. Project Close-Out

• Ensure all project costs, commitments, variations, and outstanding commercial matters are properly closed.
• Support preparation and agreement of final accounts.
• Reconcile final project costs against the approved budget.
• Review project profitability and identify key cost variances.
• Ensure outstanding subcontractor and supplier accounts are settled and closed.
• Prepare final project cost reports and lessons-learned documentation.

Qualifications & Experience

• Bachelor's degree in quantity surveying, Civil Engineering, Construction Management, Finance, Accounting, or a related discipline.
• Professional qualification such as RICS, CIOB, PMP, or equivalent is an advantage.
• Minimum 8–10 years of relevant experience in construction cost management, commercial management, quantity surveying, or project controls.
• Proven experience managing costs for medium to large-scale construction projects.
• Strong experience in budgeting, forecasting, variations, valuations, cost reporting, and commercial management.
• Experience working with subcontractors, consultants, suppliers, and construction project teams.
• UAE/GCC construction experience is highly preferred.
• Proficiency in Microsoft Excel and construction/project cost-control software.
• Experience with ERP systems and project management platforms is preferred.

Key Skills & Competencies

• Construction Cost Management
• Budgeting & Cost Planning
• Cost Forecasting
• Estimate at Completion (EAC)
• Cost to Complete (CTC)
• Commercial Management
• Variations & Change Management
• Valuations & Final Accounts
• Subcontractor Cost Management
• Cost Risk Management
• Value Engineering
• Financial & Commercial Reporting
• Negotiation & Commercial Awareness
• Leadership & Team Coordination