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Cost Controller
3 weeks ago
Job Description
Position: Cost Control Engineer
Company: Al Sahraa Group (ASG)
The Cost Control Engineer at Al Sahraa Group (ASG) is responsible for monitoring and controlling project costs to ensure budget adherence and financial efficiency. This role involves cost estimation budgeting forecasting and financial reporting to optimize project expenditures. The Cost Control Engineer will work closely with project managers finance teams and procurement departments to track costs analyze variances and develop mitigation strategies. The ideal candidate must have a strong analytical mindset attention to detail and expertise in cost management methodologies.
Key Responsibilities Cost Estimation & Budgeting- Develop accurate cost estimates for projects based on scope materials labor and overhead costs.
- Prepare project budgets and ensure alignment with financial constraints and business objectives.
- Review and validate cost estimates from subcontractors and vendors.
- Track and monitor project costs against the approved budget.
- Analyze cost variances and identify causes of budget overruns.
- Implement corrective actions to ensure cost control and minimize financial risks.
- Maintain a detailed cost database for benchmarking and future project planning.
- Prepare periodic financial reports including cost performance reports cash flow forecasts and variance analyses.
- Provide insights and recommendations to project management based on financial data.
- Ensure compliance with company policies and industry cost control standards.
- Collaborate with procurement teams to ensure costeffective purchasing of materials and services.
- Review supplier and contractor invoices to verify cost compliance with agreements.
- Support contract negotiations by providing cost analysis and recommendations.
- Identify potential costrelated risks and develop mitigation strategies.
- Optimize resource allocation to maximize project profitability.
- Evaluate financial impact of scope changes and recommend budget adjustments.
- Budget Adherence: Maintaining cost control while ensuring project quality and timeline compliance.
- Cost Variability: Managing fluctuations in material and labor costs due to market changes.
- Stakeholder Coordination: Balancing cost control objectives with project requirements and stakeholder expectations.
- Regulatory Compliance: Ensuring adherence to financial regulations and internal cost control policies.
- Data Accuracy: Maintaining precise financial records for effective cost tracking and reporting.
This role requires a proactive and detailoriented professional with strong financial acumen and expertise in cost control strategies. If you have a passion for cost management and optimizing financial performance we invite you to join Al Sahraa Group.
