Job Overview
alfanar Building Systems is looking for a Cost Control Engineer to support project financial management and help ensure projects are delivered within approved budgets. The role focuses on monitoring project expenditure, preparing cost forecasts, analyzing financial variances, and providing reliable information to project management.
Thank you for reading this post, don't forget to subscribe!The successful candidate will work closely with project management, procurement, contracts, quantity surveying, planning, and finance teams to improve cost visibility, identify financial risks, and support effective decision-making throughout the project lifecycle.
Key Responsibilities
Budget Control and Cost Monitoring
- Prepare and maintain project cost-control records, cost codes, and budget tracking systems.
- Monitor approved budgets, actual expenditure, commitments, accruals, and projected costs.
- Compare project financial performance against approved budgets and identify significant deviations.
- Investigate the reasons behind cost variances and recommend appropriate corrective actions.
- Maintain accurate and up-to-date project cost information.
Cost Forecasting and Financial Reporting
- Prepare regular project cost reports and financial performance updates.
- Develop cost-to-complete forecasts and estimate-at-completion reports.
- Support cash-flow forecasting and project financial planning.
- Provide management with information on cost trends, potential risks, and savings opportunities.
- Participate in monthly project reviews and communicate key cost-control findings.
- Coordinate with planning teams to align financial forecasts with project progress and schedules.
Procurement, Subcontract and Payment Cost Control
- Monitor financial commitments related to subcontractors and suppliers.
- Track purchase commitments, invoices, payment certificates, and associated project costs.
- Coordinate with procurement, contracts, quantity surveying, and finance teams to verify cost allocations.
- Review the financial impact of variations, claims, and change orders.
- Support the assessment of cost implications before variations or claims are approved.
- Maintain accurate records of contractual and procurement-related financial commitments.
Project Performance and Delivery
- Complete assigned cost-control activities according to project schedules and business requirements.
- Use available resources efficiently while supporting project cost and time objectives.
- Prepare periodic reports showing planned versus actual performance and significant deviations.
- Provide project teams with timely financial information to support operational decisions.
- Highlight emerging cost risks before they significantly affect project budgets.
Problem Solving
- Investigate cost-related issues and identify practical solutions.
- Analyze financial discrepancies and support corrective actions.
- Escalate complex financial or project-cost issues to the appropriate management team.
- Assist project stakeholders in resolving cost-control challenges.
Quality and Process Improvement
- Maintain accurate and consistent cost-control information and reporting.
- Follow established project financial procedures and quality requirements.
- Identify opportunities to improve cost-control processes and reporting efficiency.
- Support the use of digital tools and automation to improve financial monitoring and reporting.
- Contribute to continuous improvement initiatives within project cost management.
Compliance, Health, Safety and Environment
- Follow company policies, procedures, and approved work instructions.
- Ensure cost-control activities comply with applicable internal controls and business requirements.
- Support compliance with project quality, environmental, health, and safety procedures.
- Maintain professional standards while working with project and commercial teams.
- Report issues that may affect compliance, project performance, or business objectives.
Qualifications
- Bachelor’s degree in Civil Engineering or a relevant engineering or project-management discipline.
- Additional qualifications in cost management, quantity surveying, project controls, or financial management can be advantageous.
Experience Required
- 4–6 years of relevant professional experience in cost control, project controls, construction, engineering, or a related field.
- Experience with project budgeting, cost forecasting, variance analysis, and financial reporting.
- Exposure to procurement, subcontract management, variations, and project commercial activities is beneficial.
Key Skills
- Cost Control
- Cost Estimation
- Cost Forecasting
- Cost Variance Analysis
- Budget Management
- Project Financial Reporting
- Risk Management
- Financial Analysis
- Procurement Cost Tracking
- Subcontract Cost Management
- Problem Solving
- Data Analysis
- Stakeholder Coordination
- Process Improvement
Job Details
Job Title: Cost Control Engineer
Company: alfanar Building Systems
Location: Dubai, United Arab Emirates
Experience: 4–6 years
Education: Bachelor’s degree in Civil Engineering or relevant field
Employment Type: Full-time
Industry: Building Systems / Engineering / Construction