Cost Analyst Job Description

cost analyst job description includes a detailed overview of the key requirements, duties, responsibilities, and skills for this role.

Last update : July 14, 2023

Cost Analyst Job Description

An analytical professional who anticipates and articulates the financial performance implications of proposed changes to the organization’s business strategy or operating plans.

Cost Analysts use a variety of tools and techniques to determine where and how changes will impact the organization’s financial health.

For example, they examine historical performance to determine patterns and trends.

They then model the likely financial impact of proposed changes.

They interpret the results and communicate them clearly and concisely, using dashboards, reports, and other visual aids.

In sum, Cost Analysts are financial professionals whose job is to provide insight about an organization’s costs and benefits of making changes.

Job Brief:

We’re looking for a Cost Analyst who can help us save money on our overhead costs. The ideal candidate will have experience working with numbers and be able to find creative ways to save money. If you have a passion for finding ways to save money and enjoy working with numbers, then we’d love to hear from you!

Cost Analyst Duties:

  • Review and analyze project bids and budgets for accuracy, quality control, and compliance with all laws and regulations
  • Proactively identify risks and opportunities for cost reduction
  • Perform cost analysis, forecasting, budgeting, and variance analysis
  • Work closely with project managers, controllers, and operations personnel
  • Write comprehensive monthly expense reports
  • Work closely with Purchasing Manager on preparing purchase orders, contracts, checks, and other documents
  • Prepare cost reports for management review
  • Provide support to project managers as needed
  • Approve or reject requisitions for services and materials

Cost Analyst Responsibilities:

  • Provide support to cost engineering team with budgeting, forecasting, and analysis of costs, schedules, and profitability
  • Develop and maintain cooperative relationships with external customers, internal customers, suppliers, and contractors
  • Assist in preparation of cost reports, requests for proposals, bids, and other documents
  • Perform cost analysis and manage labor, material, equipment, and indirect costs
  • Manage and maintain project cost database
  • Identify and analyze trends, make appropriate adjustments, and project future expenditures
  • Work with project managers to develop accurate cost projections and budgets
  • Develop and maintain cost models
  • Assist in developing and maintaining Risk Management Systems
  • Provide administrative support

Requirements And Skills:

  • Bachelor’s degree in accounting, finance, or a related field
  • 2+ years experience in cost accounting
  • Knowledge of construction cost accounting methods and techniques
  • Ability to forecast and monitor project budgets
  • Ability to prepare cost estimates, progress reports, and financial reports

At Company Name, we believe that diversity and inclusion are key to success. We are committed to building a team that reflects our values of diversity and inclusion. We encourage applications from people of all races, religions, national origins, genders, and ages, as well as veterans and individuals with disabilities.

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