Senior Project / Cost Controls Engineer (Commercial/ Internal) - SA - Jeddah | Parsons Job

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Job Description:

Parsons is looking for an amazingly talented Senior Project / Cost Controls Engineer (Commercial/ Internal) to join our team! In this role, you will provide project controls support across cost, schedule, risk, revenue, margin, cash flow, and change management.

The role establishes reliable project baselines, converts operational data into accurate forecasts and P&L insights, and supports timely risk management decisions throughout the project lifecycle. Working closely with Project Management, Project Controls, Engineering, Procurement, Commercial, Contracts, and Finance teams, the position ensures that project performance is measured consistently, financial exposure is identified early, and corrective actions are clearly owned and tracked. The role is expected to operate with a high degree of independence while maintaining compliance with contractual requirements, internal governance, and established project controls processes.

What You’ll Be Doing:

• Budgeting and WBS Management: Develop and maintain project budgets, cost breakdown structures, and Work Breakdown Structures. Align budgets with scope, schedule, procurement strategy, resource plans, and contractual deliverables.
• Monthly Forecasting and P&L:Prepare accurate monthly forecasts, including estimate to complete (ETC), estimate at completion (EAC), revenue, gross profit, margin, cash flow, and headcount assumptions. Explain material variances against the approved budget, prior forecast, and quarterly outlook.
• Cost Monitoring and Control: Track commitments, actual costs, accruals, and forecast costs. Identify unfavorable trends early, quantify financial exposure, and recommend practical corrective actions to protect project performance and P&L.
• Earned Value Management: Apply Earned Value Management principles and other performance-measurement techniques to evaluate cost and schedule performance, test forecast reliability, and highlight emerging delivery risks.
• Revenue Recognition and Accruals:Support the application of the appropriate revenue-recognition method based on contract type and project status. Prepare and validate accruals, assess P&L impact, and ensure accurate and timely monthly reporting.
• Commercial and Contract Review:Interpret key contractual and subcontract terms affecting revenue, margin, billing, cash collection, working capital, liabilities, and risk allocation. Escalate material commercial exposure and support mitigation planning.
• Change Management:Identify, quantify, document, and track client and internal changes. Ensure changes are reflected in project forecasts, risk registers, budgets, schedules, and commercial records in accordance with approved governance processes.
• Risk and Contingency Management:Facilitate the identification and assessment of project risks and opportunities. Maintain risk registers, quantify probable cost and schedule impacts, and monitor the use and adequacy of contingency.
• Billing, Collections and Working Capital:Interpret payment terms, support accurate and compliant invoicing, forecast collections, monitor accounts receivable and unbilled balances, and coordinate actions to improve cash conversion and working capital.
• Planning and Scheduling:Interpret project schedules, progress data, critical milestones, and resource requirements. Assess the cost and commercial impact of schedule movement and ensure alignment between cost and schedule forecasts.
• Performance Reporting: Prepare concise dashboards and management reports covering cost, schedule, revenue, margin, cash, risks, opportunities, changes, and required actions. Ensure data is accurate, traceable, and decision-focused.
• Stakeholder Collaboration:Partner with Project Directors, Project Managers, technical leads, Finance, Commercial, Contracts, Procurement, and other stakeholders to validate assumptions, resolve data gaps, and agree recovery actions.
• Project Closeout:Reconcile revenue, gross profit, final costs, commitments, accounts receivable, unbilled balances, risks, and changes. Confirm that financial and project-controls closeout requirements are completed and documented.
  

What Required Skills You’ll Bring:

• Bachelor’s degree in engineering, construction management, quantity surveying, finance, accounting, or a related discipline. Equivalent relevant experience may be considered.
• Minimum of 10 years of relevant experience in project controls, cost engineering, quantity surveying, commercial management, project finance, or corporate finance supporting construction, infrastructure, engineering, or consultancy projects.
• Demonstrated experience in cost control, forecasting, budget management, variance analysis, revenue and margin reporting, accruals, cash flow, and management reporting.
• Candidates from consultancy or contractor environments are welcome. Transferable corporate finance or accounting experience will be considered where it includes strong exposure to project-based financial performance and controls.
• Technical Project Controls:Strong knowledge of cost control, forecasting, budgeting, EVM, change control, risk management, cash flow, and performance reporting.
• Financial and Commercial Acumen:Ability to understand project P&L, revenue recognition, margin drivers, accruals, working capital, contract terms, and the financial consequences of project decisions.
• Data and Systems:Advanced Microsoft Excel capability and practical experience producing clear Power BI dashboards. Working knowledge of project controls, scheduling, ERP, and cost-management systems is preferred.
• Analytical Thinking:Ability to interpret complex data, challenge assumptions, identify trends and root causes, and translate analysis into clear actions.
• Accuracy and Governance:Strong attention to detail, disciplined documentation, and commitment to reliable, auditable, and timely reporting.
• Communication and Influence:Clear written and verbal communication, with the confidence to explain financial and project-control issues to technical and non-technical stakeholders.

What Desired Skills You’ll Bring:

• Collaboration: Ability to work effectively across project, technical, commercial, finance, and leadership teams while maintaining constructive challenge and accountability.
• Prioritization and Adaptability:Ability to manage competing deadlines, respond to changing project conditions, and maintain reporting quality in a demanding environment.
• Problem-Solving: Practical approach to resolving complex project-controls issues, closing data gaps, and developing proportionate recovery or mitigation actions.

Parsons equally employs representation at all job levels no matter the race, color, religion, sex (including pregnancy), national origin, age, disability or genetic information.

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!

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