Do you have a head for business and strong collaboration skills?
If so, working as a project analyst may be your ideal career. This role mainly involves working closely with a project manager and supporting a company’s project team.
You need to understand the various steps of each project and the best ways to execute them. It is necessary to be able to put the needs of the project first, no matter what is happening within the team.
To find out if this could be the perfect job for you, check out my in-depth…
Project Analyst Job Description
The job description should begin by providing an overview of the company you would work for. This is likely to include details of typical projects and the size of the project team. It could include details of the type of contract, the working hours, and the base salary.
There should be details of the types of tasks you will be charged with regularly. You are likely to find details of the education, experience, and training candidates need to have. There could also be details of any specialist skills and attributes the employer is looking for in the perfect candidate.
Duties And Responsibilities
The types of projects you work on will vary depending on where you work. However, the way you approach different projects is likely to be fairly similar. Here are some of the main duties and responsibilities you are likely to have when doing this job.
One of the main responsibilities of this job is gathering the data needed to support the project team. This is likely to involve conducting financial forecasting and budget tracking as well as project evaluation and monitoring. You will analyze critical performance indicators and regularly create variance reports for the project manager.
You need to be able to create clear and detailed plans for different projects. To do this, you need to have a detailed understanding of the project and the needs of the client. This can include working out deliverable timetables and identifying any potential issues that could arise.
You could also be charged with conducting feasibility analyses to make sure projects meet client demands.
You need to handle various operational features of projects to support the project team. Be able to work out the workflow and assign different tasks to various employees. This can include helping to streamline the overall workflow so that projects are completed more quickly and efficiently.
Evaluating and Monitoring Progress
During each stage of the project, you need to make sure that the plan and schedule is being followed. You will also need to monitor the cost of the project and specific details that have been highlighted by the client. When possible, you must be able to identify ways to improve the project and methods of implementing them.
You will be charged with creating and maintaining a range of different types of project documentation. This is likely to include resource plans, timelines, and meeting minutes. You also need to create regular status reports to keep external teams and clients fully informed.
Skills And Attributes
You need to have a lot of business knowledge and experience to do this job well. However, there are also soft skills such as people skills that will help you to excel. Let’s check out the skills and attributes that you need in order to work as a project analyst.
It is essential to have a deep understanding of the basic principles of business. These will vary slightly according to the industry you are working in. you will be responsible for keeping your business knowledge up to date.
You will need to be able to juggle a large number of tasks to properly assist with a particular project. Prioritize different tasks to make sure they are all completed on time. You may also be charged with working on more than one project simultaneously.
You are likely to work alongside a large team of people when working on different projects. Identify the core skills of each person and find ways to utilize them. You need to make sure that you work well with the project manager and be able to resolve conflicts easily.
You need to be able to explain complicated business strategies and details as clearly as possible. This includes writing reports for both clients and project managers. You may also be asked to deliver presentations from time to time.
Tools Of The Trade
There are certain types of tools that will help you do this job more effectively. It is important to master these tools and know which ones to use at which times. Here are some of the main tools you are likely to use when doing this job.
- Documentation software like Microsoft Word, PowerPoint, and Excel.
- Project management software like Microsoft Project, JIRA, Asana, and Basecamp.
- Diagramming software like Microsoft Visio, draw.io, Creately, and Lucidchart.
Education And Training
You need to hold a bachelor’s degree in business, finance, or computer science to secure this role. Many managers prefer candidates to have a certain amount of experience managing or collaborating on projects. However, new employees are usually provided with on-the-job training once they start work.
The International Institute of Business Analysis offers certification that can boost your career. This body also regularly hosts networking events where you can make important connections.
Obtaining a PMI Professional in Business Analysis is another great way to take your career to the next level. You need to have a secondary degree and have completed 7,500 hours of business analysis experience to qualify. You also need to complete 2,000 hours of project work and 35 contact hours of business analysis education.
Renew it every three years…
Once you have met all the course requirements, you will have to sit and pass a multiple-choice question exam. Once you have passed the exam and gained certification, you have to renew it every three years. This requires completing sixty professional development units in specified business analysis topics.
Master’s Program for Project Analysts
After getting certified, gaining a master’s degree is another great way to boost your career prospects. This will teach you advanced skills and practices that can be very useful and give you the edge. In many cases, you can complete this master’s degree in your spare time while you are already working.
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If you have a head for business and strong analytical skills, this job could be for you. The starting salary is typically around $46,000 per year. Once you have gained experience and specialist skills, you could earn up to $84,000 per year.
You can maximize your earning potential by gaining a Master’s Degree and specialist certification. This will allow you to earn more than $95,000 per year.
This specialist knowledge can also earn you a promotion to the role of Project Specialist.
All the very best working as a Project Analyst!