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Parsons Corporation Principal Cost Engineer in Yanbu, United States

Principal Cost Engineer


Yanbu, Al Madinah, Saudi Arabia

Requisition #:


Post Date:

Parsons’ engineering and construction management staff members create innovative, safe, and sustainable infrastructure in the Kingdom of Saudi Arabia, the United Arab Emirates, Qatar, Oman, Bahrain, and Kuwait. We deliver rail, transit, road, and highway transportation; water conveyance and wastewater treatment; oil and gas; land development; public; and aviation infrastructure to our customers and communities.Parsons creates interconnected communities and world-class infrastructure.

Principal objective:

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.

Major Activities Performed:

  • Develops systems which provide project management with needed costand invoice control information.

  • Directs contractor through the post-award conference andsubsequent meetings on establishing a contract breakdown for progressmonitoring, cash flow preparation, work estimate preparation, documentationrequirements and other financial related matters.

  • Prepares commitment and expenditure fiscal requirements forecastwhich eventually become the annual budget.Performs variance analyses offering explanations for deviation fromplanned levels of commitments and expenditures.

  • Reviews and validates contractor’s work estimates, change orderrequests and invoices for accuracy, consistency and continuity of cost data. Participatesin field surveys of completed work to verify contractor claimed quantities onwork estimates.

  • Established and maintains cost control tracking on unit pricecontracts – monitoring the latest estimate-to-complete quantities vs. contractquantities and alerting management of any potential overruns well before theyoccur.

  • Assists the Senior Resident Construction Manager in identifying,preparing and documenting change orders which affect cost. Closely coordinateswith the Contractor’s Estimator on those estimates requiring his expertise.

  • Responsible for establishing the CVFC (Contracts Value Forecast atCompletion by assigning trends to all forecast changes affecting cost, scope orschedule.

  • Responsible to alert management to any potential Royal Commissionfinancial exposure relating to a particular contract be it due to contractor’sfinancial instability, claims, over-billing or failing to follow contractualrequirements.

  • Responsible for updating relevant CSR’s (Contract Status Reports)on all active contracts in the Program Progress Report by indicating contractvalues, forecast values, scheduled and actual expenditures and percentageprogress billed.

  • Responsible for updating forecast values of active contracts inthe cost reimbursable/unit price contract report by incorporating potentialmodifications and updating actual expenditures.

Organizational Relationship:

The Principal Cost Engineer is assigned to the RCHQ Construction Staff. He works directly for the Project Manager. A close relationship is maintained with the RCHQ Contractor and the SRCM. During budget reviews and presentations, frequent contact with program management takes place.

Experience and Qualifications:

  • Candidate must have Bachelor Degree in Engineering, BusinessAdministration or related field from a recongized western university or college.

  • Candidate must have a minimum of 10 years of experience in projectcost controls with at least (6) years of directly related senior costengineering experience

  • Membership in a professional association such as the Associationof American Cost Engineering (AACE) is desirable

  • Candidate must be fluent in English (writing, reading andspeaking)

  • Candidate must be computer literate and skilled with MS Word, MSExcel and PowerPoint. Cost analysis software will be plus.

Parsons is a digitally enabled solutions provider focused on the defense, security, and infrastructure markets. With nearly 75 years of experience, Parsons is uniquely qualified to deliver cyber/converged security, technology-based intellectual property, and other innovative services to federal, regional, and local government agencies, as well as to private industrial customers worldwide.

Parsons is an equal opportunity, drug-free employer committed to diversity in the workplace. Minority/Female/Disabled/Protected Veteran/LGBT.

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Parsons is an equal opportunity, drug-free employer committed to diversity in the workplace. Minority/Female/Disabled/Protected Veteran/LGBT

Parsons is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regards to an individual's race, color, religion, national origin, ethnicity, union affiliation, age, sex, sexual orientation, gender identity and expression, pregnancy, employable physical or mental disability, veteran status, genetic information, immigration status, or any other basis protected by applicable laws.