Location: Riyadh, Saudi Arabia
Employment Type: Full-time
Job Summary
We are seeking a highly analytical and detail-oriented Project Cost Control Specialist to oversee and manage project costs, ensuring alignment with approved budgets and financial objectives. The role involves monitoring expenditures, analyzing variances, supporting forecasting activities, and maintaining effective cost control processes across projects.
Key Responsibilities
- Monitor and control project costs to ensure alignment with approved budgets.
- Prepare and maintain cost reports, forecasts, and cash flow projections.
- Analyze cost variances and provide recommendations for corrective actions.
- Track and allocate costs across different project cost centers.
- Support budgeting and financial planning activities for ongoing and upcoming projects.
- Review and validate invoices, payments, and financial transactions related to projects.
- Coordinate with project teams, procurement, and finance to ensure accurate cost tracking.
- Manage change orders and assess their cost impact on project budgets.
- Identify potential financial risks and support risk mitigation strategies.
- Maintain accurate cost control documentation and reporting systems.
Qualifications & Requirements
- Bachelor's degree in Finance, Accounting, Industrial Engineering, or related field.
- 3–6 years of experience in project cost control or cost management.
- Strong understanding of budgeting, forecasting, and financial reporting.
- Experience in construction, engineering, or large-scale projects is preferred.
- Proficiency in Excel and cost management systems (SAP is a plus).
- Knowledge of contracts and procurement processes is an advantage.
Skills
- Strong analytical and problem-solving skills
- Attention to detail and accuracy
- Excellent communication and coordination skills
- Ability to work under pressure and meet deadlines
- Strong organizational and reporting skills
Preferred Certifications (Plus)
- PMP, CFA (Level I or above), or relevant certifications
- SAP or ERP system certifications
