Project analysts are responsible for managing the development of new projects through special research, data analysis, and data collection to facilitate strategic decision-making for their organizations. They also actively research and design new projects using logical framework approaches and other tools made available by the organization.
Project analysts must be comfortable preparing and presenting new ideas to improve current strategic planning processes while taking into account different scenarios to anticipate any impact they may have on the business. They are also responsible for collecting the information needed for projects using various approaches, such as interviews, statistical data and market trends, or legislation applicable to projects, and analyzing the information collected.
Project analysts must also assess any project for financial and economic feasibility, as well as its investment budget, and are responsible for administrative activities (estimates and cost control) and monitoring the activities set for each project. Although project analysts work on teams, they must be able to coordinate with departments within the company and, in some cases, teams from outside the organization who are contracted for research purposes.
Those in this position may arrange the operational and field tests needed to ensure the safe development and implementation of projects at work, and also prepare and submit reports on projects' progress to their superiors within set deadlines. A bachelor’s degree in business is generally required for this position, though this varies by industry, and some employers may prefer those who have a master's degree and at least two years of experience in the industry.
Project Analyst Tasks
Develop and maintain project schedules, goals, and communications.
Develop and manage project documentation and reports.
Identify user needs and verify the data to meet those analytic needs.
Analyze, track, forecast, and report on project metrics and shortfalls.