Cost Engineer
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Key skills for this role
About the Role
The Cost Engineer is responsible for preparing cost estimates, tender pricing, budgeting, cost analysis, and monitoring project costs throughout the project lifecycle.
Key Skills for This Role
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Overview
The Cost Engineer is responsible for preparing cost estimates, tender pricing, budgeting, cost analysis, and monitoring project costs throughout the project lifecycle.
The role requires strong experience in the commercial and tendering functions of construction projects, ensuring accurate cost forecasting, competitive bid preparation, and effective cost management to maximize project profitability.
Tendering & Estimation
- Review tender documents, drawings, specifications, and contract requirements.
- Prepare detailed cost estimates and pricing for construction projects.
- Analyze material, labor, equipment, subcontractor, and indirect costs.
- Obtain and evaluate quotations from suppliers and subcontractors.
- Prepare Bills of Quantities (BOQ) pricing and tender submissions.
- Participate in tender clarification meetings and commercial negotiations.
- Conduct cost benchmarking and market price analysis.
Commercial & Cost Management
- Develop project budgets and cost plans.
- Monitor project expenditures against approved budgets.
- Prepare cost reports, forecasts, and cash flow projections.
- Identify cost variances and recommend corrective actions.
- Support the preparation and evaluation of variation orders and claims.
- Coordinate with project teams to ensure cost-effective project execution.
- Assist in contract administration and commercial risk assessment.
Reporting & Analysis
- Prepare periodic cost performance reports for management.
- Track committed costs, actual costs, and forecasted costs.
- Analyze project profitability and financial performance.
- Maintain accurate cost databases and historical records.
Qualifications
- Bachelor’s Degree in Civil Engineering
Experience Requirements
- Minimum 5 years of experience as a Cost Engineer within the construction industry.
- Minimum 3 years of experience in Saudi Arabia with a contracting company.
- Proven experience in commercial management, tendering, and cost estimation.
- Strong experience in preparing construction cost estimates and tender submissions.
- Experience in infrastructure, building, or large-scale construction projects is preferred.
- Experience in cost control, budgeting, and project financial monitoring.
Technical Skills
- Strong knowledge of construction methods, BOQs, and contract documents.
- Proficiency in Microsoft Excel and cost estimation software.
- Knowledge of ERP systems and project cost management tools.
- Familiarity with FIDIC contracts is preferred.
- Excellent analytical and numerical skills.
Competencies
- Commercial awareness.
- Strong analytical and problem-solving skills.
- Attention to detail and accuracy.
- Negotiation and communication skills.
- Ability to work under pressure and meet tender deadlines.
- Teamwork and stakeholder management.
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