Cost Manager

Job Description

The Cost Manager will act as the client-side commercial lead for post-contract delivery of Mixed-use developments in Latvia. The role is responsible for overseeing all commercial and cost-related matters from contract award through to project close-out, ensuring robust commercial and cost control, governance, and risk management.

This position will lead and manage external consultants, including but not limited to cost consultants, ensuring their outputs are accurate and aligned with project objectives. The role will also support commercial due diligence, reporting, and strategic decision-making at the project and portfolio level.

Key Responsibilities

• Act as the primary client-side on site commercial lead across assigned projects/packages.
• Establish and maintain commercial governance frameworks, processes, and reporting standards.
• Provide support and strategic commercial advice to management on cost, risk, and commercial/contractual matters.
• Ensure alignment of all commercial activities with project objectives and financial targets.

• Lead, manage, and oversee appointed consultants including but not limited to LDC, cost consultants etc.
• Review and validate cost reports, payment certifications, variation assessments, and final accounts prepared by consultants.
• Challenge assumptions, ensure consistency, and drive accuracy in all consultant deliverables.
• Ensure consultants are meeting contractual obligations, KPIs, and reporting timelines.

• Monitor overall project cost performance against approved budgets and business plans.
• Review and consolidate cost forecasts, cash flows, and financial reports.
• Identify cost risks and opportunities, ensuring proactive mitigation strategies are implemented.
• Maintain oversight of commitments, expenditures, and cost-to-complete.

• Support in the administration of FIDIC contracts.
• Ensure support in application of contractual mechanisms including: variations and change control, payment certifications, claims and extensions of time.
• Provide commercial input on contractual correspondence and key notices.
• Support dispute avoidance and resolution strategies in coordination with project and HO teams.

• Provide strategic oversight on evaluation and negotiation of variations and contractor claims.
• Ensure all changes are commercially justified, properly instructed, and documented.
• Review entitlement, quantum, and contractual compliance of claims.
• Lead high-value or sensitive negotiations where required.

• Support commercial due diligence for design development, procurement strategies, and delivery approaches.
• Assess cost implications of design changes, value engineering proposals, and scope adjustments.
• Identify commercial risks across packages and implement mitigation strategies.
• Ensure alignment between project budgets, feasibility studies, and ongoing delivery costs.

• Prepare and present high-level commercial reports to senior management.
• Provide clear insights on project financial status, risks, and forecasts.
• Liaise with internal stakeholders (development, design, finance, legal, project management) and external parties (consultants, contractors, local authorities).
• Support reporting where required.

• Oversee the agreement of final accounts prepared by cost consultants.
• Ensure timely and efficient commercial close-out of all contracts.
• Capture lessons learned, benchmarking data, and cost intelligence for future projects.

• Bachelor's degree in Quantity Surveying, Commercial Management, Engineering, or related discipline.
• 8–15 years of relevant experience, preferably with a developer, client-side organization, leading consultancy or contractor.
• Strong experience in post-contract commercial management of large-scale developments (residential/mixed-use/masterplan).
• Proven experience working with and managing external cost consultants.
• In-depth knowledge of FIDIC contracts and European construction practices.
• Experience in claims, variations, and final account negotiations.
• Familiarity with EU procurement and regulatory environments is an advantage.

• Strong commercial leadership and strategic thinking.
• Excellent understanding of commercial processes and contract mechanisms.
• High level of analytical and financial acumen.
• Confident in challenging consultants and contractors constructively.
• Strong negotiation and stakeholder management skills.
• Ability to operate at both strategic and detailed levels.
• Clear and concise reporting and communication skills.
• Experience in liaising with local authorities and regulatory bodies, with a commercial understanding of permitting, approvals, and compliance requirements within European project environments.
• Ability to support the commercial and contractual aspects of authority approvals, including managing cost implications.

• MRICS (Member of the Royal Institution of Chartered Surveyors) or equivalent professional accreditation.
• Experience delivering projects in Europe or similar regulatory environments.
• Experience in large-scale master-planned communities or infrastructure-led developments.