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*Cost Analyst*
Career Insights for Cost Accountant
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Based on Maryland data
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What they do
A Cost Accountant analyzes the cost of company products or services, determines factors affecting costs, and makes recommendations for managing costs. Analyzes financial processes within a company or organization and develops internal cost reporting and accounting systems.
$97,874 / year median in Maryland
-6% projected decline
Job Description
- Cost Analyst
- Cost Analyst
- OverviewJob specifications are intended to present a descriptive list of the range of duties performed by employees.
SUMMARY:
The Cost Analyst performs cost estimation and analysis in support of assigned programs, developing and analyzing cost estimates, performing risk analysis, and preparing cost analysis reports, briefings, and supporting documentation. This role prefers a B.A. or B.S. degree from an accredited university in mathematics, business, economics, science, engineering, or other cost estimating related field, along with five (5) years of experience in cost estimation and analysis, including broad knowledge of cost estimating data sources, tools, methodologies, and risk analysis. This position requires a DoD Secret or higher security clearance, or the ability to obtain and maintain a Secret clearance; U.S. Citizenship is required.ESSENTIAL DUTIES AND RESPONSIBILITIES
- Develop and analyze cost estimates in support of program budgets, proposals, and contract requirements.
- Utilize cost estimating data sources, tools, and methodologies to support program decision-making.
- Perform risk analysis related to program cost estimates.
- Prepare cost analysis reports, briefings, and supporting documentation.
- Coordinate with program management, engineering, and finance staff to gather cost data and validate assumptions.
- Track and analyze actual costs against estimates and approved budgets.
- Support development of Basis of Estimates (BOEs) and other cost documentation.
- Identify cost trends, risks, and opportunities for efficiency.
- Perform other duties as assigned.
EXPERIENCE, EDUCATION, AND LICENSURE
- B.A. or B.S. degree from an accredited university in mathematics, business, economics, science, engineering, or other cost estimating related field is preferred.
- Five (5) years of experience in cost estimation and analysis to include broad knowledge of cost estimating data sources, tools, methodologies, and risk analysis.