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Cost Engineer

5.00 to 10.00 Years   Dammam, Saudi Arabia   20 Dec, 2024
sraco
500 Jobs Openings
Job LocationDammam, Saudi Arabia
EducationNot Mentioned
Salary$2,000 - $3,000
IndustryConstruction & Building
Functional AreaNot Mentioned

Job Description

The Cost Engineer plays a critical role in the construction and building industry, particularly in managing project costs and ensuring financial efficiency. This position requires a blend of technical knowledge and analytical skills to estimate project expenses accurately and monitor ongoing costs. The Cost Engineer will work closely with project managers, contractors, and stakeholders to provide insights that drive decision-making and optimize resource allocation. With a minimum of 5 years and a maximum of 10 years of experience required, this role is ideal for professionals who are adept at financial analysis and project management.Responsibilities:

  1. Prepare detailed cost estimates for construction projects based on project specifications and drawings.
  2. Monitor project expenditures and compare them against the budget to identify variances.
  3. Conduct regular cost analysis and forecasting to ensure financial objectives are met.
  4. Collaborate with project managers to develop cost-effective strategies and solutions.
  5. Review and analyze subcontractor bids and proposals to ensure competitiveness and compliance.
  6. Assist in the preparation of financial reports and presentations for stakeholders.
  7. Implement cost control measures to minimize waste and optimize resource utilization.
  8. Participate in project meetings to provide updates on cost-related issues and strategies.
  9. Maintain accurate records of all financial transactions and project costs.
  10. Support the procurement process by evaluating supplier pricing and contract terms.
Preferred Candidate:
  1. Bachelor of Science Degree in Engineering/Architecture (as per required discipline) or equivalent acceptable by User Organization. Passing National Licensure or equivalent will be beneficial.
  2. Knowledgeable in various estimating software (i.e. Timberline)
  3. Well verse in Microsoft Office (Word and Excel)
  4. Ten (10) years? experience from the date of qualification with five (5) years of those experiences in the position as cost engineer in design and engineering or construction field.

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