| Job Location | Yanbu, Saudi Arabia |
| Education | Not Mentioned |
| Salary | Not Mentioned |
| Industry | Business Consultancy Services |
| Functional Area | Not Mentioned |
RINCIPAL OBJECTIVE:Responsible for cost control, forecasting and review of contractor?s invoices. The Principal Cost Engineer provides a major role in enforcing contractual responsibilities of the project Contractor?s cost performance. Within the framework of the assigned project area, he monitors and advises the project contractor on cost, change order and invoice matters ? collecting, evaluating, forecasting and estimating cost/ invoice data as requested by management.ORGANIZATIONAL RELATIONSHIP:The Principal Cost Engineer is assigned to Construction project (s) staff. He works directly for the Project Manager. A close relationship is maintained with the project Contractor and the SRCM. During budget reviews and presentations, frequent contact with Construction Dept. management takes place.MAJOR ACTIVITIES PERFORMED:1. Develops systems which provide project management with needed cost and invoice control information.2. Directs contractor through the post-award conference and subsequent meetings on establishing a contract breakdown for progress monitoring, cash flow preparation, work estimate preparation, documentation requirements and other financial related matters.3. Prepares commitment and expenditure fiscal requirements forecast which eventually become the annual budget. Performs variance analyses offering explanations for deviation from planned levels of commitments and expenditures.?4. Reviews and validates contractor?s work estimates, change order requests and invoices for accuracy, consistency and continuity of cost data. Participates in field surveys of completed work to verify contractor claimed quantities on work estimates.5. Established and maintains cost control tracking on unit price contracts ? monitoring latest estimate-to-complete quantities vs. contract quantities and alerting management of any potential overruns well before they occur.6. Assists the Senior Resident Construction Manager in identifying, preparing and documenting change orders which affect cost. Closely coordinates with the Contractor?s Estimator on those estimates requiring his expertise.7. Responsible for establishing the CVFC (Contracts Value Forecast at Completion by assigning trends to all forecast changes affecting cost, scope or schedule.8. Responsible to alert management to any potential Royal Commission financial exposure relating to a particular contract be it due to contractor?s financial instability, claims, over-billing or failing to follow contractual requirements.9. Responsible for updating relevant CSR?s (Contract Status Reports) on all active contracts in the Program Progress Report by indicating contract values, forecast values, scheduled and actual expenditures and percentage progress billed.10. Responsible for updating forecast values of active contracts in the cost reimbursable/unit price contract report by incorporating potential modifications and updating actual expenditures.
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