Cost Control Manager

Al Bawani Construction.

With three decades of contracting experience, Al Bawani Construction is proud to hold a Class-1 rating – this is the highest ranking in the Saudi turnkey-project classification system. The company is also ISO9001:2015 certified for its Quality Management System.

Job Title: Cost Control Manager

Division: Project control

Department: Budgeting & Cost Control

Budgeting & Cost Control: Director, Budgeting & Cost Control

Supervises (titles): Senior Cost Control Engineers, Cost Control Engineers, Budgeting Engineers, Cost controller.

Role Purpose:

A Cost Control Manager is responsible for monitoring, analyzing, and managing project costs of Albawani Construction Company's comprehensive project budgeting and cost control systems to ensure financial efficiency and budget compliance. The primary goal is to optimize project expenditures, minimize cost overruns, and enhance profitability while maintaining quality standards.

Job Accountabilities

• Develop project budgets and establish cost baselines.
• Define a Cost Breakdown Structure (CBS) aligned with the Work Breakdown Structure (WBS).
• Ensure all cost elements, including direct and indirect costs, are properly allocated.
• Track project expenditures against the approved budget.
• Identify cost variances, trends, and potential overruns.
• Implement corrective actions to mitigate financial risks.
• Perform earned value management (EVM) to measure project performance
• Prepare cost forecasts and ensure accurate cash flow projections.
• Generate periodic financial reports, including Cost Performance Reports (CPR) and variance analyses.
• Provide management with real-time insights into decision-making.
• Assess and documents the financial impact of scope changes and variations.
• Ensure change orders are evaluated and approved before execution.
• Maintain strict adherence to contractual cost control measures.
• Ensure compliance with financial policies, project contracts, and industry standards.
• Maintain audit-ready financial records for internal and external reviews.
• Coordinate with finance, procurement, and project teams to uphold cost control policies.
• Collaborate with project managers, engineers, finance teams, and procurement to ensure cost efficiency.
• Provide cost insights to support negotiation strategies with vendors and subcontractors.
• Act as a financial advisor to senior management on cost-related decisions.
• Would you like me to tailor this to a specific industry or project type?
• Fast-paced and detail-oriented
• Project sites and other offices for cost reviews and audits.
• Heavy reliance on cost management tools and software for real-time tracking and forecasting.
• Medium Risk (traveling and projects site visits)

JOB SPECIFICATIONS

Industry / Domain

Construction residential, commercial, medical, Entertainment, infrastructure Projects

Necessary Knowledge and Experience

• Budgeting & Cost Estimation – Understanding of cost breakdown structures (CBS) and work breakdown structures (WBS).
• Forecasting & Cost Tracking – Ability to analyze financial trends and predict cost overruns.
• Variance Analysis – Identifying cost deviations and implementing corrective measures.
• Cash Flow Management – Ensuring sufficient project funding and financial stability.
• Project Lifecycle & Phases – Knowledge of project planning, execution, and closeout.
• Earned Value Management (EVM) – Measuring project performance against budget and schedule.
• Risk Management – Identifying cost-related risks and mitigation strategies.

• Contract Management – Understanding contract types (Lump Sum, Cost-Plus, Unit Price, etc.) and financial clauses.
• Change Order & Claims Management – Assessing cost impact of variations and scope changes.
• Procurement Strategies – Managing supplier and subcontractor costs effectively.
• Construction Methods & Materials – Understanding cost implications of different construction techniques.
• Labor & Equipment Costing – Knowledge of labor productivity rates, equipment rental costs, and depreciation.
• Quality & Safety Standards – Ensuring compliance without unnecessary cost increases.
• Cost Control Software – Proficiency in tools like Oracle Primavera (P6), SAP, CostX, Procore, or Aconex.
• ERP & Accounting Systems – Experience with financial software for cost tracking.
• MS Excel & Data Analysis – Strong skills in spreadsheets, pivot tables, and financial modeling.

Education and Certification Minimum Requirements

1.Bachelor’s Degree (Mandatory) A degree in one of the following fields is usually required:

• Civil Engineering
• Construction Management
• Quantity Surveying
• Finance or Accounting
• Business Administration (with a focus on cost control or finance)
• Industrial Engineering

2. Master’s Degree (Optional, but Preferred)

• A master’s in business administration (MBA), Construction Management, or Project Management can be an added advantage for career growth and leadership roles.

3. Professional Certifications (Highly Recommended)

To enhance expertise and credibility, the following certifications are beneficial:

• Certified Cost Professional (CCP) – AACE International
• Project Management Professional (PMP) – PMI
• Chartered Quantity Surveyor (MRICS) – RICS
• Certified Estimating Professional (CEP) – AACE International
• Certified Cost Engineer (CCE) – AACE International
• Primavera P6 Certification – Oracle (for cost scheduling and control)

4. Additional Training & Courses

• Construction Cost Estimation & Budgeting
• Earned Value Management (EVM)
• Financial Risk Management
• Contracts & Claims Management (FIDIC, NEC, etc.)

Job Specific Technical Skills

1. Cost Management & Financial Analysis

• Cost Estimation & Budgeting – Ability to prepare and manage project budgets, including cost breakdown structures (CBS).
• Cost Tracking & Monitoring – Ensuring actual costs align with the budget through real-time tracking.
• Variance Analysis – Identifying and explaining differences between planned and actual costs.
• Earned Value Management (EVM) – Measuring project performance based on scope, cost, and schedule.
• Cash Flow Analysis – Managing cash flow forecasts to ensure project financial stability.

2. Project Planning & Scheduling

• Work Breakdown Structure (WBS) – Structuring projects into manageable cost elements.
• Primavera P6 & MS Project – Proficiency in scheduling tools to align cost tracking with project timelines.
• Resource Allocation & Cost Loading – Assigning cost values to labor, materials, and equipment.

3. Procurement & Contract Administration

• Contract Cost Management – Understanding FIDIC, NEC, and other contract types.
• Change Order & Claims Analysis – Evaluating cost impact of variations and contractual claims.
• Supplier & Subcontractor Cost Control – Managing procurement costs and evaluating financial performance.

4. Data Analysis & Reporting

• Financial Reporting & Dashboards – Preparing cost reports, S-curves, and key financial metrics.
• MS Excel (Advanced) – Using pivot tables, VLOOKUP, and financial modeling for cost analysis.
• Power BI & Data Visualization – Creating cost performance dashboards for management reporting.

5. Software & Tools Proficiency

• ERP Systems – SAP, Oracle ERP, JD Edwards for cost tracking and financial reporting.
• Cost Management Software – CostX, Procore, Candy CCS, or Aconex.
• Scheduling & Planning Tools – Primavera P6, MS Project.

6. Risk Management & Forecasting

• Risk-Based Cost Forecasting – Identifying financial risks and preparing mitigation strategies.

Scenario Analysis & Sensitivity Analysis – Evaluating different financial outcomes based on project variables.

Benefits

• Competitive salary and comprehensive benefits package
• Opportunities for professional development and growth
• Collaborative and innovative work environment