IT Project Cost Analyst

Overview

Job Summary:

The IT Cost Analyst is responsible for the financial planning, budgeting, forecasting, and analysis of IT spend and expense within our organization. This role collaborates between technology and finance, ensuring that IT initiatives are managed cost-effectively, aligned with business objectives, deliver measurable returns on investment, and meet corporate finance expectations. The successful candidate will provide analytical support to project management teams and be a subject matter expert on the creation of technology implementation costs driven by IT projects.

Key Responsibilities

• IT Project Budget Development & Management:
• Collaborate with IT project managers to create detailed project budgets.
• Effectively monitor spending throughout the project lifecycle.
• Track actual expenditures versus forecasted budgets and provide variance analysis.
• IT Spend & Reporting:
• Prepare financial reports that summarize the status of IT projects.
• Conduct ROI, cost-benefit, and risk analyses to support decision-making processes.
• Assist in forecasting project expenses.
• IT Expense Cost Control & Optimization:
• Identify areas for cost reduction and recommend opportunities to optimize financial resources.
• Stakeholder Collaboration & Communication:
• Work closely with cross-functional teams, including IT, finance, and operations, to ensure the integration of financial planning with project execution.
• Communicate complex financial insights understandably to non-financial stakeholders.
• Process Improvement & Compliance:
• Assist in developing and continuously improving IT cost identification processes and tools used in IT project management.
• Ensure all IT project budget activities comply with internal policies and external regulatory requirements.
  
  

Qualifications

Education

• Bachelor’s degree in Finance, Accounting, Business, Information Technology, or a related field.
  
  

Experience

• 3 years of experience in financial analysis, budget management, or project control, preferably within an IT or technology-focused environment.
• Proven experience working with medium to large IT project budgets.
  
  

Technical Skills & Tools

• Advanced knowledge of Microsoft Excel.
• Experience with data visualization tools is beneficial.
  
  

Core Competencies

• Strong analytical and problem-solving skills.
• Excellent communication and presentation abilities.
• High attention to detail and strong organizational skills.
• Ability to work collaboratively, manage multiple projects, and meet deadlines.
• A proactive mindset that can identify financial risks and implement mitigation strategies.