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Job Description:
Parsons is looking for an amazingly talented Cost Engineer (Saudi National) to join our team!
The Cost Engineer will support the planning, monitoring, control, and reporting of project costs across the Airport / Infrastructure / Airfield project. The role will ensure that project costs, commitments, variations, forecasts, and commercial changes are accurately monitored and reported against the approved budget and project baseline.
The position will work closely with the Commercial, Contracts, Planning, Procurement, Engineering, Construction, Project Controls, Finance, Contractors, and Client teams to maintain effective cost control and provide accurate financial visibility to project management.
Key ResponsibilitiesMonitor and control project costs against the approved budget.
Maintain accurate cost reports and cost control systems.
Monitor actual costs, commitments, accruals, forecasts, and budget movements.
Prepare regular cost reports for Project Management and senior management.
Maintain the Project Cost Breakdown Structure (CBS).
Monitor costs by package, discipline, workstream, and project area.
Track commitments and actual expenditure.
Monitor approved and pending Variations / Change Orders.
Assess cost impacts of design changes, Client instructions, and project changes.
Support preparation of cost estimates and forecasts.
Identify cost trends, risks, and potential overruns.
Provide early warnings on potential budget impacts.
Coordinate with Commercial and Contract teams regarding claims and variations.
Reconcile cost reports with Finance and Commercial records.
Support monthly project cost forecasting and reporting.
Establish and maintain cost control procedures.
Monitor:
Approved Budget
Actual Cost
Committed Cost
Accrued Cost
Forecast Cost
Remaining Cost
Variations
Contingency
Potential Changes
Monitor budget transfers and cost movements.
Review cost performance against approved budgets.
Identify cost variances and investigate causes.
Prepare variance analysis and management commentary.
Ensure cost information is accurate, timely, and traceable.
Maintain the project Variation / Change Register from a cost perspective.
Review cost impacts of Client instructions and design changes.
Prepare or support preparation of cost estimates for variations.
Review Contractor variation submissions.
Validate quantities, rates, resources, and supporting documentation.
Coordinate with Contracts and Commercial teams on variation assessments.
Track:
Proposed Variations
Submitted Variations
Under Review
Approved Variations
Rejected Variations
Pending Client Approval
Monitor the financial impact of approved and pending changes.
Ensure approved changes are reflected in the project forecast.
Prepare monthly cost forecasts.
Maintain Estimate at Completion (EAC).
Monitor Estimate to Complete (ETC).
Identify forecast movements and cost risks.
Assess potential cost exposure from outstanding changes and claims.
Coordinate with Planning and Commercial teams to align cost and schedule forecasts.
Provide management with forward-looking cost information.
Support development of recovery and mitigation strategies where cost risks are identified.
Review Contractor and Subcontractor payment applications.
Monitor commitments and contractual values.
Support assessment of progress payment applications.
Validate quantities and reported progress against approved records.
Coordinate with Quantity Surveyors and Commercial teams.
Monitor Contractor variations and claims.
Track approved and pending commercial changes.
Identify discrepancies between physical progress and reported cost.
Support reconciliation of Contractor accounts.
Coordinate closely with Planning Engineers and Project Controls teams.
Integrate cost information with project schedule and progress data.
Support development of Earned Value Management (EVM) where applicable.
Monitor:
Planned Value (PV)
Earned Value (EV)
Actual Cost (AC)
Cost Variance (CV)
Schedule Variance (SV)
CPI / SPI
Analyze cost performance and trends.
Support management decisions through integrated cost and schedule analysis.
Monitor procurement commitments against approved budgets.
Coordinate with Procurement regarding purchase orders and commitments.
Track long-lead equipment and major procurement packages.
Monitor committed values against forecast costs.
Identify procurement cost risks and potential budget impacts.
Support reconciliation between purchase orders, commitments, invoices, and project cost records.
Prepare weekly and monthly cost reports.
Maintain cost dashboards and management reports.
Provide cost variance analysis.
Prepare cost forecasts and EAC updates.
Maintain:
Cost Report
Cost Breakdown Structure
Commitment Register
Variation Register
Forecast Register
Change Register
Payment Tracking
Cost Risk Register
Highlight key cost risks and required management actions.
Present cost status and trends to Project Management when required.
Identify potential cost risks and opportunities.
Monitor financial exposure from:
Design Changes
Client Instructions
Delays
Claims
Procurement Changes
Market Conditions
Productivity
Rework
Scope Growth
Quantify potential cost impacts.
Support development of mitigation strategies.
Ensure significant cost risks are escalated to management.
Bachelor's Degree in Engineering, Quantity Surveying, Construction Management, Finance, or a related discipline.
Minimum 5 years of relevant experience in cost engineering, project controls, quantity surveying, or commercial management.
Experience on major construction, infrastructure, airport, transportation, or large-scale development projects is preferred.
Strong understanding of construction cost control and project commercial processes.
Experience with variations, claims, forecasting, commitments, and cost reporting.
Good understanding of WBS / CBS and project cost structures.
Experience with Contractor payment applications and commercial assessments.
Knowledge of Earned Value Management is preferred.
Proficiency in Excel and project cost control systems.
Strong analytical, reporting, communication, and problem-solving skills.
We truly invest and care about our employee’s wellbeing and provide endless growth opportunities as the sky is the limit, so aim for the stars! Imagine next and join the Parsons quest—APPLY TODAY!
Parsons is aware of fraudulent recruitment practices. To learn more about recruitment fraud and how to report it, please refer to https://www.parsons.com/fraudulent-recruitment/.
Skills Required
- Saudi National
- Bachelor's degree in Engineering, Quantity Surveying, Construction Management, Finance, or related discipline
- Minimum 5 years of relevant experience in cost engineering, project controls, quantity surveying, or commercial management
- Experience on major construction, infrastructure, airport, transportation, or large-scale development projects
- Strong understanding of construction cost control and project commercial processes
- Experience with variations, claims, forecasting, commitments, and cost reporting
- Good understanding of WBS / CBS and project cost structures
- Experience with Contractor payment applications and commercial assessments
- Knowledge of Earned Value Management (EVM)
- Proficiency in Excel and project cost control systems
- Strong analytical, reporting, communication, and problem-solving skills
Parsons Corporation Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about Parsons Corporation and has not been reviewed or approved by Parsons Corporation.
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Retirement Support — Retirement programs are framed as a major value driver, with an ESOP alongside a 401(k) match and additional stock-purchase options contributing meaningfully to total rewards. This structure is positioned as especially attractive for employees who value long-term wealth-building over immediate cash.
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Healthcare Strength — Health coverage is described as broad and choice-rich, with multiple plan types (PPO, HDHP, and some HMO networks) plus dental, vision, EAP, and wellness resources. The availability of different plan designs and national-carrier coverage supports varied employee needs.
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Leave & Time Off Breadth — Time-off offerings are portrayed as competitive, including PTO, holidays, flexible schedules such as a 9/80 option for eligible roles, and floating holidays in the U.S. Paid parental leave of 160 hours is also highlighted as a meaningful component of the overall package.
Parsons Corporation Insights
What We Do
Parsons is a digitally enabled solutions provider with a focus on making the world safer, smarter, healthier, more sustainable, and more connected. Founded in 1944, Parsons primarily serves the defense, security, and infrastructure markets. Uniquely qualified to deliver cyber/converged security, technology-based intellectual property, and other innovative services, the corporation delivers state-of-the-art solutions to federal, regional, and local government agencies as well as to private industrial customers worldwide. Parsons has a reputation for inclusion and diversity and has been named to the Ethisphere Institute’s list of World’s Most Ethical Companies for 10 consecutive years. Parsons facilitates a culture of innovation by encouraging collaboration among its employees and providing opportunities for career growth. With offices around the globe, people of varied talents and backgrounds, and a wide range of exciting projects, the possibilities at Parsons are endless. For more about Parsons, visit www.parsons.com. Mission: Delivering innovative infrastructure, defense, and security solutions to enable a more sustainable, safer, smarter, and more connected world.
