---
name: cost-analyst
description: "Occupational skill for the role 'cost analyst' (also: quantity surveyor, cost accountant, cost accounting clerk, cost recovery estimator, cost and budget analyst, cost accounting officer). Use when the user asks for typical cost analyst work such as: Collect historical cost data to estimate costs for current or future products.; Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.; Assess cost effectiveness of products, projects or services, tracking actual costs relative to bids as the project develops."
---

# Cost Analyst

Cost analysts prepare regular costs, budgeting analyses and reports in order to contribute to the overall cost planning and forecasting activities of a business. They review and reconcile key balance sheets and identify new opportunities to save costs.

## Core workflow

1. Collect historical cost data to estimate costs for current or future products.
2. Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.
3. Assess cost effectiveness of products, projects or services, tracking actual costs relative to bids as the project develops.
4. Consult with clients, vendors, personnel in other departments, or construction foremen to discuss and formulate estimates and resolve issues.
5. Confer with engineers, architects, owners, contractors, and subcontractors on changes and adjustments to cost estimates.
6. Prepare estimates used by management for purposes such as planning, organizing, and scheduling work.
7. Prepare estimates for use in selecting vendors or subcontractors.
8. Review material and labor requirements to decide whether it is more cost-effective to produce or purchase components.

## How to use this skill

- Read `references/profile.md` for the occupation profile and scope.
- Consult `references/tasks.md` for the full task and activity inventory.
- Check `references/skills.md` for essential vs. optional competences.
- Check `references/tools.md` for the software commonly used in this role.

## Key competences (essential)

- assess financial viability
- company policies
- control of expenses
- cost management
- evaluate budgets
- financial department processes
- identify process improvements
- interpret financial statements
- liquidity management
- perform cost accounting activities
- prepare cost-plus pricing models
- provide cost benefit analysis reports
- synthesise financial information

## Hot technologies

- Intuit QuickBooks
- Procore software
- Autodesk AutoCAD
- Autodesk Revit
- Microsoft Access
- Adobe Acrobat
- Microsoft Outlook
- SAP software
- Trimble SketchUp Pro
- Microsoft Office software

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*Sources: ESCO v1.2.1 (http://data.europa.eu/esco/occupation/84871c2a-abd1-45eb-b03a-65e51a26fd84), O*NET 30.3 (13-1051.00). See manifest.json for licensing/attribution.*
