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Cost Officer (Saudi National)
Parsons Corporation
Manage project cost estimates, budgeting, control, forecasting, and reporting.
6d ago
Intermediate (4-7 years)
Full Time
Riyadh, Riyadh, Saudi Arabia
Office Full-Time
Company Size
19,600 Employees
Service Specialisms
Engineering
Consulting
Construction services
Project Management
Technical Services
Design
Architecture
Turnkey
Sector Specialisms
National Security
Defense
Cybersecurity
Intelligence
Transportation
Environmental Remediation
Urban Development
Geospatial Solutions
Role
What you would be doing
cost estimating
budget management
invoice verification
change orders
cost reporting
risk analysis
- Ensure alignment of financial goals with overall project objectives, proactively identifying opportunities for cost reduction or optimization.
- Review and verify contractor invoices and work progress, ensuring that payments are aligned with the contractual agreements and work completed.
- Provide technical expertise on cost analysis and budgeting during project planning and execution.
- Continuously review cost management processes and recommend improvements to increase efficiency and cost savings.
- Collaborate closely with project managers, engineers, and other stakeholders to understand the project requirements and contribute to cost-related decision-making.
- Update project cost estimates and budgets as changes or modifications occur, ensuring that any variations in cost are communicated promptly.
- Prepare financial reports for senior management and stakeholders, providing insights into the overall financial health of the project.
- Manage and assess all change orders and their impact on project costs, ensuring that any variations from the original scope are documented and justified.
- Develop accurate cost estimates for all stages of the project, from conceptual design to final delivery, ensuring that all materials, labor, and overhead costs are considered.
- Work with contractors and suppliers to ensure that costs align with agreed-upon terms and that procurement processes are efficient and cost-effective.
- Monitor and track project costs, ensuring that expenditures align with the approved budget.
- Ensure proper documentation of financial transactions for audit purposes and for compliance with company policies.
- Monitor changes in project scope, schedule, and design, analyzing their impact on costs and making necessary adjustments to financial plans.
- Maintain records of all change orders and variations, ensuring proper documentation is available for audits.
- Provide regular reports to management on the status of project costs, highlighting any variances and recommending corrective actions when necessary.
- Establish and maintain cost control systems, ensuring accurate and timely recording of all project costs.
- Stay updated on industry trends, cost management techniques, and tools to ensure that best practices are implemented.
- Collaborate with project managers, engineers, and other stakeholders to develop detailed project budgets, taking into account the scope of work and resources needed.
- Prepare regular cost forecasts, analyzing project trends to predict potential cost overruns or savings.
- Recommend cost-effective solutions to potential risks, ensuring the project stays on budget.
- Work with the project team to ensure that change orders are properly evaluated, approved, and implemented.
- Review and analyze project design and scope to ensure the estimated costs are comprehensive and realistic.
- Collaborate with procurement teams to negotiate and assess vendor quotations to ensure the best value for the project.
- Maintain accurate records of all cost-related documentation, including invoices, receipts, change orders, and contract modifications.
- Prepare and present cost reports, ensuring that they are accurate and aligned with the project’s progress and financial objectives.
- Identify potential risks related to cost overruns and work with the project team to mitigate them.
What you bring
cost estimating
lean construction
cost software
mrics
2+ years
bachelor's
- Experience with large-scale construction projects or infrastructure programs.
- Strong analytical skills, with the ability to assess financial data and identify trends, risks, and opportunities.
- Knowledge of lean construction practices and their application to cost management.
- Strong experience in cost estimating, budget preparation, and cost tracking for large-scale projects.
- Minimum of 2 years of experience as a cost engineer, cost estimator, or in a similar financial management role, ideally within construction, infrastructure, or engineering projects.
- Professional certifications in cost management or project management (e.g., MRICS, AACE, PMP).
- Strong understanding of cost estimating principles, techniques, and project cost management processes.
- Ability to work in a fast-paced, deadline-driven environment and handle multiple priorities.
- Excellent attention to detail, organizational, and time-management skills.
- Bachelor’s degree in Civil Engineering, Construction Management, Quantity Surveying, or a related field.
- Strong written and verbal communication skills, with the ability to present financial information to senior management.
- Familiarity with cost management software (e.g., Procore, Oracle Primavera, CostX) and project management tools
- In-depth knowledge of construction contracts, procurement processes, and financial reporting.
Information not given or found
Training + DevelopmentInformation not given or found
Interview process
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Visa SponsorshipInformation not given or found
Security clearanceInformation not given or found
Company
Overview
1944 Founded
Year of Establishment
The company was established in 1944 by Ralph M. Parsons in California.
$6 Billion Annual
Revenue Figure
The firm generates an average of $6 billion in annual revenue.
Free Space Shuttle Move
Notable Achievement
The company successfully transported the Space Shuttle Endeavour at no cost.
- Over decades it expanded into oil, petrochemical, water and infrastructure projects across the US and globally.
- It leverages digital tools such as AI platforms, utility data systems, and drone integration alongside traditional design and construction.
- Parsons completed high‑profile projects like major bridge, tunnel, and transit works.
- Specializing in transportation, energy, environmental remediation, urban development, industrial, and cybersecurity projects.
- The firm has delivered hundreds of mega‑projects worldwide, including infrastructure in the Middle East and environmental cleanup contracts.
- Safety: We adeptly avoid risk through our high‑value technical and management solutions and a companywide, personal commitment to maintaining a safe and healthy culture and environment in all our offices and on each of our projects.
- Quality: We’re on a never‑ending quest to improve our processes, services, and products. Our quality management systems ensure ISO 9001 compliance every time…
- Integrity: Having integrity means that we remain transparent in our practices by openly communicating with each other, our customers, and stakeholders; that we prioritize the quality of every job; and that we do the right thing each time we’re faced with a tough decision.
- Innovation: Through intensive research and development, partnerships, and rapid prototyping, we confidently provide inventive processes and unique solutions that offer unrivaled value to our customers.
- Sustainability: We operate in accordance with best practices to deliver solutions while addressing environmental risk and minimizing our carbon footprint.
50% Reduction
Absolute Scope 1 & 2 GHG Emissions by 2030
Aims to reduce absolute Scope 1 and Scope 2 greenhouse gas emissions by 50% by 2030, referencing a 2019 base year.
100% Renewable
Electricity Sourcing by 2028
A commitment to sourcing 100% of electricity from renewable sources by 2028, having started from 0% in 2019.
90% Reduction
Absolute GHG Emissions by 2045
Long-term goal to reduce absolute Scope 1 and Scope 2 greenhouse gas emissions by 90% by 2045.
Net-Zero Goal
GHG Emissions by 2045
Comprehensive target to achieve net-zero greenhouse gas emissions across the entire value chain by 2045.
- Purchased renewable energy certificates and reduced market-based Scope 2 emissions in 2023.
- Achieved significant diversion of shredded paper and repurposed electronics in 2023.
- Recycled or repurposed hardware units in Middle East offices in 2023.
34% increase
Diversity Representation
The organization achieved a significant 34% increase in diversity representation across the enterprise in 2021.
33% increase
Women in Leadership
Women in leadership roles grew by 33% within the organization in 2021, reflecting progress in gender diversity.
50% diverse
Executive Leadership
The executive leadership team was 50% diverse and demonstrated a strong commitment to inclusion in early 2022.
100% score
Human Rights Campaign Index
The organization earned a perfect score of 100 on the Human Rights Campaign Corporate Equality Index for 2023–2024, highlighting its dedication to LGBTQ+ equality.
- Created a DEI Council in 2017 to unify efforts around diversity and inclusion.
- Supports Employee Business Resource Groups such as MILVET, HOLA, PRIDE Alliance, BELONG, PWR, SOAR, and FORCE to foster networking, mentorship, and professional development.
- Recognized as one of Forbes' 2023 Best Employers for Diversity.
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