Cost Control Engineer

About Alfanar Projects

Since 1976, we’ve grown and diversified our business to meet the evolving needs of a changing world. Alfanar Projects is an integrated global project developer and engineering, construction, and technology solutions provider with a robust portfolio of landmark projects across the energy, water, and infrastructure sectors.

From Saudi Arabia to the rest of the world, we work closely with governments and partners to deliver strategic projects that support national goals and long-term visions. Our work directly contributes to sustainable development and infrastructure modernization in multiple countries.

At the heart of our success are more than 10,000 professionals—diverse, skilled, and united by purpose. Our global teams are committed to delivering impact-driven solutions that shape a better, more sustainable future.

Role Overview

We are seeking a qualified and detail-oriented Cost Control Engineer to join our project execution team. The role is responsible for developing, monitoring, and controlling project budgets, conducting variance and performance analyses, and ensuring cost efficiency throughout the project lifecycle in accordance with Alfanar’s standards and financial procedures.

Key Responsibilities

Foundations of Cost Management

• Build and maintain project budgets and approved cost baselines.

• Structure and manage Cost Breakdown Structures (CBS) and Work Breakdown Structures (WBS) in line with contracts and Bills of Quantities (BOQs).

• Set up and maintain cost codes to ensure proper allocation of costs across activities, disciplines, and resources.

Cost Tracking & Reporting

• Record, validate, and reconcile actual costs, commitments, and accruals.

• Prepare weekly and monthly cost reports, dashboards, and S-curves to track project performance.

• Consolidate quantities, unit rates, and productivity data to support accurate reporting and cost forecasting.

Variance, Forecasting & Earned Value Management (EVM)

• Perform variance analysis (budget vs. actual vs. commitment) and report key deviations.

• Apply Earned Value Management principles (CPI, SPI, EAC, ETC) to forecast cost and schedule performance.

• Identify cost trends and recommend corrective actions to maintain project financial targets.

Change, Risks & Controls

• Track and evaluate change orders, claims, and variations for their cost impact.

• Identify and quantify cost risks and opportunities, developing mitigation or optimization strategies.

• Support internal and external cost audits, ensuring compliance with Alfanar’s controls, policies, and procedures.

Collaboration & Systems

• Coordinate closely with Planning, Procurement, and Site teams to reconcile quantities, progress, and costs.

• Maintain organized cost documentation including invoices, purchase orders, material receipts, and variation backups.

• Work with ERP and Primavera systems to integrate and automate project cost reporting processes.

Qualifications and Skills

• Bachelor’s Degree in Engineering (Civil, Electrical, Mechanical, or Construction Management).

• Minimum of 5 years of experience in project cost control, preferably in EPC, construction, or industrial environments.

• Proven experience working on large-scale power, infrastructure, or energy projects.

• Experience in Substation and OHTL (Overhead Transmission Line) projects is a strong advantage.

• Strong understanding of cost estimation, budgeting, forecasting, and earned value methodologies.

• Skilled in using ERP systems and project control tools (Oracle, SAP, or Primavera).

• Proficient in MS Excel and MS Office Suite, with advanced analytical and reporting skills.

• Excellent communication and interpersonal abilities with strong command of English.

• High attention to detail, strong numerical aptitude, and problem-solving mindset.

• Ability to collaborate effectively across cross-functional teams and meet strict deadlines.