About the job
Position : Value Engineer / Cost Engineer
Location : Riyadh, Saudi Arabia
Candidates Presently in Dubai but ready to relocate to Riyadh.
Industry : Real Estate or Construction sector
Key Responsibilities:
Cost Estimation and Budgeting:
• Prepare detailed cost estimates during the project’s feasibility and design stages.
• Develop project budgets based on scope, resource requirements, and market conditions.
• Work closely with project managers to finalize budgets and cost plans.
Cost Monitoring and Control:
• Track and monitor project expenditures to ensure adherence to approved budgets.
• Conduct cost variance analysis to identify and address deviations.
• Recommend cost-saving measures to optimize project efficiency and reduce waste.
Forecasting and Reporting:
• Prepare regular cost reports and forecasts to provide insights into financial performance.
• Generate cash flow projections and expenditure forecasts for project phases.
• Present cost analyses and updates to the Planning & Cost Manager and senior management.
Tendering and Procurement Support:
• Assist in preparing tender documents and evaluating contractor bids.
• Analyze cost implications of procurement decisions, including materials, equipment, and services.
• Support contract negotiations by providing accurate cost data and recommendations.
Risk Analysis and Mitigation:
• Identify cost risks and propose mitigation strategies to minimize financial exposure.
• Conduct “what-if” scenarios to evaluate the financial impact of potential project changes.
• Monitor contingency allowances and recommend adjustments as necessary.
Collaboration and Communication:
• Collaborate with project teams, procurement staff, and vendors to align costs with project objectives.
• Work with the Planning Engineer to integrate cost data into project schedules.
• Ensure that all stakeholders are informed of cost implications for project decisions.
Continuous Improvement:
• Review and improve cost management processes and tools to enhance accuracy and efficiency.
• Stay updated on industry trends, cost estimation techniques, and market pricing.
Required Qualifications:
• Education: Bachelor’s degree in Civil Engineering, Construction Management, Quantity
Surveying, or a related field.
• Experience: Minimum of 3-5 years of experience in cost engineering or cost control, preferably in the construction or real estate sector.
• Certifications: Certification in cost engineering (e.g., CCP by AACE) or equivalent is a plus.
• Skills:
o Proficiency in cost management tools and software (e.g., CostX, Primavera Cost
Manager, or similar).
o Strong understanding of cost estimation, budgeting, and financial analysis principles.
o Advanced Excel skills for data analysis and financial modeling
About The Author
