Cost Analyst Job Description Template
The Cost Analyst will be responsible for working with the project team to develop and track the project budget. They will also be responsible for performing cost analysis on various projects and providing recommendations to management on ways to improve project cost efficiency.
Cost Analyst Job Responsibilities
- Reviewing and analyzing costs associated with production processes
- Identifying cost saving opportunities within the organization
- Working with managers to develop budgets and track spending
- Conducting cost analysis studies to support decision making
- Preparing reports detailing findings of cost analysis studies
Objectives
- To support the development and implementation of cost-effective systems
- To track and analyze costs associated with production processes
- To develop cost models and establish cost baseline estimates
- To support the negotiation of contracts with suppliers
- To monitor supplier performance and costs
- To identify opportunities for cost savings and process improvements
Cost Analyst Job Skills & Qualifications Needed
- The skills and qualifications needed for the role of cost analyst vary depending on the specific industry and company. However, most cost analysts need at least a bachelor's degree in business administration, accounting, finance, or a related field. Additionally, cost analysts should have strong analytical and problemsolving skills. They must be able to effectively communicate their findings to others in both written and verbal form.