Cost Control Engineer

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Senior Project Control Engineer Experience: 3-5 Years MAX Position. Please READ before you apply and Good Luck. Purpose The Senior Project Control Engineer is responsible for establishing and maintaining effective project cost planning and control throughout the project lifecycle. The role ensures that development and construction activities remain aligned with approved budgets, financial targets, project plans, and overall company objectives. The position will work closely with Development, Design, Procurement, Finance, and Project Execution teams to provide accurate cost visibility, identify financial risks at an early stage, and support management in making informed commercial and project-related decisions. Key Responsibilities Cost Planning & Budgeting  Prepare and review detailed cost estimates during the feasibility, concept, design, and development stages of projects.  Develop project cost plans and establish appropriate cost baselines in coordination with relevant stakeholders.  Prepare and monitor project budgets in alignment with approved development plans and financial objectives.  Develop and update project cash flow forecasts, ensuring alignment with project schedules and anticipated expenditure. Cost Control & Monitoring  Establish and maintain effective project cost control systems, procedures, and reporting mechanisms.  Monitor actual project expenditure against approved budgets, cost plans, and commitments.  Identify cost variances, trends, and potential financial risks, and provide timely recommendations for corrective action.  Monitor commitments, forecast final project costs, and highlight potential budget overruns at an early stage.  Maintain accurate and up-to-date cost data and project financial records. Commercial & Contractual Review  Review contractors' payment applications and payment certificates in coordination with the relevant technical and project teams.  Review variation orders, claims, and other cost-related contractual matters and assess their financial impact.  Support the evaluation of contractor and consultant commercial submissions where required.  Ensure that approved variations and commercial decisions are properly reflected in project cost forecasts and budgets. Value Engineering & Cost Optimization  Participate in value engineering initiatives throughout the design and execution phases.  Identify opportunities to optimize project costs while maintaining the required quality, functionality, design intent, and development objectives.  Provide cost-based recommendations to support design and procurement decisions. Reporting & Management Support  Prepare periodic project cost reports, forecasts, dashboards, and management summaries.  Provide management with clear analysis of project financial performance, key variances, risks, and anticipated cost exposures.  Support senior management in project planning, budgeting, and financial decision making.  Ensure timely escalation of material cost risks and deviations. Cross-Functional Coordination  Coordinate with Design, Procurement, Project Management, Finance, and other relevant functions to ensure effective cost management.  Work collaboratively with project teams to ensure that cost implications are considered during key project decisions.  Support the integration of project schedules, procurement plans, and cost forecasts. Key Competencies  Strong project cost control and commercial awareness.  Excellent analytical and numerical skills.  Strong planning, forecasting, and problem-solving capabilities.  Ability to interpret project information and translate it into meaningful financial and commercial insights.  Strong attention to detail and accuracy.  Effective communication and stakeholder management skills.  Ability to challenge assumptions and identify potential cost risks proactively.  Ability to manage multiple projects and competing priorities.  Strong understanding of real estate development and construction processes. Preferred Technical Skills  Advanced proficiency in Microsoft Excel.  Good working knowledge of Primavera P6 or equivalent project planning software.  Familiarity with cost control and project management systems.  Knowledge of construction contracts, payment procedures, variations, and claims.  Working understanding of development feasibility, project budgeting, and cash flow management. Show more

A Cost Control Engineer oversees project expenses to ensure adherence to budgetary constraints. They analyze costs, track expenditures, and implement strategies to maintain financial efficiency throughout a construction project.