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The completion of a project has a lot of factors to consider such as opportunities, feasibility study, resource management, collaboration, and budget. It gets difficult for a project manager to handle all these factors. And in big companies, many projects run simultaneously. To aid the project manager, the role of the project analysts come out. Project analysts are persons who aid the project managers by processing all project information, creating reports, and developing strategies. They act as the right hand of the project manager.
In this article, we’ll discuss the responsibilities of a project analysts, the required skill set, the payment system, and finally how to become a project analyst.
A project analyst is the one who provides data support to help project managers plan and manage the projects.
They need to do research and get data before designing new projects, help plan after completing the phase of data collection and research, and provide improvement suggestions after analyzing the projects.
Project analysts play a great role in making crucial decisions for a project. The project managers will turn to the project analysts for suggestions.
The project analysts are not a dying necessity for small projects. But for large projects, it is a must. Depending on the complexity of the project, there may be more than one project analyst.
The main task of project analysts is to help the project managers develop strategies based on data analysis. They through all the data relevant to the project and processes and analyzes those data. After the processing, they provide the project managers with the summarized data to help them make decisions. The project analysts contribute to the whole project and help the project managers make effective use of available resources, deal with employees, improve their productivity, set up priorities, and more.
Project analysts may also act as the project managers in their absence as they are the ones with the most knowledge about the project. They need to attend meetings with both clients and supervisors of the project and present the opportunity, progress, and cost estimation reports. They will check how well the project is progressing, the current difficulties, the problems that may arise in the future, and the necessary steps to solve those difficulties.
The project analysts play a great role in resolving internal problems. They figure out how to apply the skills of each individual in the most productive manner with the data analysis. They need to analyze all the data to track progress and suggest a change of plan if things are not going as expected.
Project analysts deal with the project finances as well. They need to schedule a budget, keep track of the expenses, suggest the most effective approach with low cost, and provide analysis reports.
Skilled project analysts should be equipped with various abilities. Here, we’ve collected some key abilities that any project analysts should have. Anybody with these abilities can be a good candidate for turning into one professional project analyst.
Various companies offer different amounts of salary. This depends mainly on the job requirements and the working experience. It may also vary depending on geo-location. But you can know the range via the salaries standard from some companies. Here is a list of offered salaries to project analysts from some renowned companies
|Company Name||Average Salary of a Project Analyst(Yearly)|
|Intel Corporation||134,319 USD|
|Pacific Gas & Electric Company||105,326 USD|
|Jaguar Land Rover||37,506 USD|
|HCL Technologies||98, 316 USD|
First, you need a bachelor’s degree and you need to major in computer science, management information systems, finance, business administration, public administration, or any relevant subject.
After completing your Bachelor’s degree, you may also look for certifications in related items. This will make you more capable of the role. The fact is, there is no end to learning in this field. You become more and more qualified, as you keep studying more relevant subjects.
The different industry has a big difference in the requirements for project analysts. You need to choose a specific industry you want to be an expert in and have the basic knowledge of the industry. And you need to improve the relevant skills required in that industry.
There may be software that is used almost every day for project purposes like keeping records or creating reports. You need to learn those tools in your free time.
And the fastest way to succeed in one industry is to join a company as an intern after graduation. You can gain a lot of experience valuable for your career during the internship.
With all the above preparations, you are sure to be a project analyst.
Here are some job descriptions so that you may have a better understanding of the requirements.
To write a good project analyst resume is not easy. You can get some ideas by checking these templates.
If you are seeking for project analyst jobs after you are ready to be a project analyst, you can use these popular sites.
A project analyst is a crucial position in project management. In this article, we’ve tried to give you a good idea of the roles of a project analyst and how to become one. Hope it can help you pursue your goals much more easily.
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