Job Opportunities in Saudi Arabia
October 19, 2024
Projects Pioneers Contracting Company
الدمام
FULL TIME
Lead Cost Manager / Cost Director
Job Title: Senior Cost Manager
Location: Dammam
Job Summary:
The Cost Lead Manager is responsible for the financial planning, management, and tracking of project costs in a contracting company. They work closely with project managers, estimators, and procurement teams to control project expenses, ensure cost-efficiency, and support the delivery of projects within the defined financial parameters. The role requires excellent analytical skills, financial acumen, and a thorough understanding of construction industry practices.
Key Responsibilities:
Pay: ﷼20.00 - ﷼25.00 per month
Location: Dammam
Job Summary:
The Cost Lead Manager is responsible for the financial planning, management, and tracking of project costs in a contracting company. They work closely with project managers, estimators, and procurement teams to control project expenses, ensure cost-efficiency, and support the delivery of projects within the defined financial parameters. The role requires excellent analytical skills, financial acumen, and a thorough understanding of construction industry practices.
Key Responsibilities:
- Budget Management:
- Develop and manage project budgets, ensuring cost control from project inception to completion.
- Monitor project expenditures and compare them with initial estimates to ensure that the project stays within the budget.
- Prepare periodic cost forecasts and variance analyses, reporting to senior management.
- Cost Estimation and Control:
- Collaborate with the estimating team to develop accurate project cost estimates.
- Review and evaluate project costs on a continual basis, identifying areas for cost-saving and optimization.
- Manage cost tracking systems, ensuring that all expenditures are recorded and monitored.
- Financial Reporting:
- Prepare detailed financial reports and updates on project costs for both internal stakeholders and clients.
- Present cost-related data to project teams and senior management in a clear and concise manner.
- Report financial progress and flag potential risks to stakeholders.
- Procurement and Vendor Management:
- Liaise with procurement teams to ensure that subcontractor and supplier contracts are cost-effective.
- Negotiate pricing and contract terms with vendors and subcontractors to maximize project profitability.
- Manage vendor payment processes, ensuring accurate and timely payments.
- Risk Management:
- Identify potential financial risks related to the project and develop mitigation strategies.
- Perform cost risk assessments to proactively manage project finances.
- Collaboration and Communication:
- Work closely with project managers, engineers, and other stakeholders to understand project requirements and provide financial guidance.
- Communicate cost-related matters clearly to non-financial stakeholders.
- Compliance and Auditing:
- Ensure that all cost management processes comply with company policies, industry standards, and legal requirements.
- Support internal and external audits by providing detailed financial documentation.
- Educational Background:
- Bachelor's degree in Accounting, Finance, Quantity Surveying, Construction Management, or related fields.
- Professional certifications (CMA, CPA, or MRICS) are a plus.
- Experience:
- 15-18 years of experience in cost management or financial planning, ideally within the construction or contracting industry.
- Proven track record of managing large-scale construction project costs.
- Technical Skills:
- Proficiency in cost management software (SAP, Oracle, or Procore).
- Strong knowledge of cost estimation, budgeting, forecasting, and financial reporting.
- Excellent Excel and financial modeling skills.
- Key Competencies:
- Strong analytical skills and attention to detail.
- Ability to manage multiple projects simultaneously.
- Excellent negotiation and communication skills.
- Strong leadership and teamwork skills.
Pay: ﷼20.00 - ﷼25.00 per month
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