• Cost analysis is key to a company's viability.financial analyst workplace image by luka from Fotolia.com
  
  A cost analyst estimates the cost and time frame of a project his company is considering. The analyst, also called a cost estimator in some organizations, can assess the profitability of a proposed product or contract. Based on her findings, management can take measures to prevent the company from incurring losses.
  
  

Projections

• The cost analyst determines what is involved in completing a project, such as materials, labor, location, time frame and equipment. She also analyzes bids made by subcontractors. If the project involves building, for example, the cost analyst will conduct a quantity survey and prepare a cost summary for the entire project. If this is a bidding project, she can use her findings to advise management whether the project is profitable or not
  
  

Auditing

• When a project is complete, a cost analyst will prepare documentation for auditing. If auditing is done by someone else, the cost analyst will interpret the findings. He is also involved in budgeting and plays a an active role in the development of a specialized cost accounting systems.
  
  

Technology

• The cost analyst is in charge of evaluating organizational systems and computer technology in order to develop cost accounting data. The technology is central to the operation and profitability of a business. The analyst can use the same system to manage inventory.