Job Description

Cost Analyst

Job Role

A Cost Analyst is responsible for evaluating project and operational costs, identifying cost-saving opportunities, monitoring budget performance, and supporting management with accurate financial insights for decision-making. The role involves working closely with engineering, procurement, and project teams to ensure cost efficiency and financial control.

Key Responsibilities

1. Cost Estimation & Analysis

Prepare detailed cost estimates for projects, materials, labor, equipment, and overheads. Analyze project budgets, forecasts, and actual expenditures to identify variances. Conduct cost-benefit analysis, feasibility studies, and profitability assessments. Develop cost models, rate analysis, and unit cost calculations.

2. Budgeting & Monitoring

Assist in developing project budgets and financial plans. Track and monitor project cost performance against approved budgets. Identify cost overruns, deviations, and propose corrective actions.

3. Financial Reporting

Prepare periodic cost reports, MIS reports, dashboards, and variance summaries. Present cost insights to management for informed decision-making. Maintain updated records of cost data, benchmarks, and financial documentation.

4. Procurement & Vendor Coordination

Coordinate with the procurement team for material price comparison and vendor costing. Evaluate quotations, negotiate pricing support, and ensure cost accuracy. Review supplier invoices, work orders, and certification for cost justification.

5. Process Improvement & Cost Control

Identify potential areas for cost reduction and productivity improvement. Support implementation of cost-control procedures and tracking mechanisms. Contribute to internal audits, compliance reviews, and financial standardization.

6. Cross-Department Collaboration

Work with engineering teams for BOQ verification, material optimization, and rate calculations. Collaborate with project teams for progress monitoring and cost updates. Coordinate with finance for billing, budgeting, and financial reconciliation.

Required Qualifications

Bachelor's degree in engineering

(Civil / Mechanical / Industrial)

or

Finance / Accounting

. Preferred:

MBA in Finance

, certification in

Cost Accounting

, or related specialization.

Skills Required

Strong knowledge of cost estimation, budgeting, and financial analysis. Proficiency in MS Excel, Power BI, ERP systems (SAP / Oracle / Tally preferred). Good understanding of project costing, BOQ, rate analysis, and MIS reporting. Analytical thinking, attention to detail, and problem-solving skills. Good communication and coordination skills.

Experience Requirement

2-3 years of experience

in cost analysis, cost control, project costing, or financial planning. Experience in

construction, manufacturing, steel structures

, or engineering projects is an added advantage.
Job Types: Full-time, Permanent

Pay: ₹20,000.00 - ₹25,000.00 per month

Benefits:

Health insurance Provident Fund
Work Location: In person