# Tasks & work activities — cost analyst

Source: O*NET 30.3, occupation 13-1051.00 (Cost Estimators).

## Task statements

- **[Core]** Collect historical cost data to estimate costs for current or future products.
- **[Core]** Analyze blueprints and other documentation to prepare time, cost, materials, and labor estimates.
- **[Core]** Assess cost effectiveness of products, projects or services, tracking actual costs relative to bids as the project develops.
- **[Core]** Consult with clients, vendors, personnel in other departments, or construction foremen to discuss and formulate estimates and resolve issues.
- **[Core]** Confer with engineers, architects, owners, contractors, and subcontractors on changes and adjustments to cost estimates.
- **[Core]** Prepare estimates used by management for purposes such as planning, organizing, and scheduling work.
- **[Core]** Prepare estimates for use in selecting vendors or subcontractors.
- **[Core]** Review material and labor requirements to decide whether it is more cost-effective to produce or purchase components.
- **[Core]** Prepare cost and expenditure statements and other necessary documentation at regular intervals for the duration of the project.
- **[Core]** Prepare and maintain a directory of suppliers, contractors and subcontractors.
- **[Core]** Set up cost monitoring and reporting systems and procedures.
- **[Core]** Establish and maintain tendering process, and conduct negotiations.
- **[Core]** Conduct special studies to develop and establish standard hour and related cost data or to reduce cost.
- **[Core]** Visit site and record information about access, drainage and topography, and availability of utility services.

## Detailed work activities

- Analyze business or financial data.
- Assess the cost effectiveness of products, projects, or services.
- Collect data about project sites.
- Confer with others about financial matters.
- Confer with personnel to coordinate business operations.
- Develop business or financial information systems.
- Establish business management methods.
- Estimate costs of goods or services.
- Inspect work sites to determine condition or necessary repairs.
- Maintain data in information systems or databases.
- Monitor financial indicators.
- Negotiate agreements to resolve disputes.
- Prepare financial documents.