Sorry! This position is no longer accepting applications.

Principal Cost Engineer

Parsons International

Yanbu, Saudi Arabia

Ref: HP094-3063

Job description / Role

Employment: Full Time

Ready to put your estimating expertise to work on marquee infrastructure projects that will change the fabric of our community? Would you enjoy being involved on a wide variety of estimation tasks on large scale, complex projects? Parsons is now hiring a Principal Cost Engineer for our rapidly expanding portfolio of projects.

Since 1976, Parsons has served the Royal Commission for Yanbu and recently, Jazan as the program management, master planning, design, engineering and construction management consultant for the Yanbu Industrial City and Jazan Economic City. The Yanbu Industrial City is the longest running contract in Parsons' history and reflects the strong client/consultant partnership that has evolved through the years. Our responsibilities are similar to those of a Public Works Department of municipalities. We assist in long-range strategic and master planning, project initiation, the hiring and management of design consultants, tendering for construction and oversight of all construction projects. These projects range through the full spectrum of infrastructure and facilities that would be expected in a city of 80,000+ population - roads and utilities, residences, schools, health care facilities, police and fire stations, colleges, public buildings, sports facilities and retail centers.

The Principal Cost Eningeer will be responsible for cost control, forecasting and review of contractor’s invoices. The Principal Cost Engineer provides a major role in enforcing the contractual responsibilities of the RCHQ Contractor’s cost performance. Within the framework of the assigned project area, he monitors and advises the RCHQ contractor on cost, change order and invoice matters – collecting, evaluating, forecasting and estimating cost/ invoice data as requested by management.


• Develops systems which provide project management with needed cost and invoice control information.
• Directs contractor through the post-award conference and subsequent meetings on establishing a contract breakdown for progress monitoring, cash flow preparation, work estimate preparation, documentation requirements and other financial related matters.
• Prepares commitment and expenditure fiscal requirements forecast which eventually become the annual budget.
• Performs variance analyses offering explanations for deviation from planned levels of commitments and expenditures.
• Reviews and validates contractor’s work estimates, change order requests and invoices for accuracy, consistency and continuity of cost data. Participates in field surveys of completed work to verify contractor claimed quantities on work estimates.
• Established and maintains cost control tracking on unit price contracts – monitoring the latest estimate-to-complete quantities vs. contract quantities and alerting management of any potential overruns well before they occur.
• Assists the Senior Resident Construction Manager in identifying, preparing and documenting change orders which affect cost. Closely coordinates with the Contractor’s Estimator on those estimates requiring his expertise.
• Responsible for establishing the CVFC (Contracts Value Forecast at Completion by assigning trends to all forecast changes affecting cost, scope or schedule.
• Responsible to alert management to any potential Royal Commission financial exposure relating to a particular contract be it due to contractor’s financial instability, claims, over-billing or failing to follow contractual requirements.
• Responsible for updating relevant CSR’s (Contract Status Reports) on all active contracts in the Program Progress Report by indicating contract values, forecast values, scheduled and actual expenditures and percentage progress billed.
• Responsible for updating forecast values of active contracts in the cost reimbursable/unit price contract report by incorporating potential modifications and updating actual expenditures.


• Candidate must have Bachelor’s Degree in Engineering, Business Administration or related field.
• Candidate must have a minimum of 10 years of experience in project cost controls with at least (6) years of directly related senior cost engineering experience.
• Membership in a professional association such as the Association of American Cost Engineering (AACE) is desirable.
• Candidate must be fluent in English (writing, reading and speaking).
• Candidate must be computer literate and skilled with MS Word, MS Excel and PowerPoint. Cost analysis software will be plus.

About the Company

Parsons is a leader in many diverse markets such as infrastructure, transportation, water, telecommunications, aviation, commercial, environmental, planning, industrial manufacturing, education, healthcare, life sciences and homeland security.

Parsons provides technical and management solutions to federal, regional and local government agencies as well as private industries worldwide.

Get personalised updates on latest vacancies
Job Alerts by Email
  • Personalised updates on latest career opportunities
  • Insights on hiring and employment activity in your industry
  • Typically sent twice a month
Engineer salaries in Saudi Arabia

Average monthly compensation
SAR 9,000

Breakdown available for industries, cities and years of experience