Learn something new every day
More Info... by email
A construction analyst has three areas of responsibility: review construction plans, produce cost analysis, and provide analysis reports to management. A construction analyst typically has a university or college degree in accounting, management, or civil engineering. A construction analyst can find employment opportunities in construction or renovation companies, government agencies, and financial companies.
People who enjoy working with numbers, are focused on details, and understand the importance of accuracy report the greatest satisfaction in this role. A construction analyst provides two important functions: analyzing the construction plans to identify areas of cost overruns and ensuring the project stays on track at the appropriate level of expense. The failure of any construction company to meet these two requirements will quickly result in financial losses for the firm.
The primary role of the construction analyst is to review construction plans. Only someone with experience and knowledge in this field can review both the project plan and the drawings to identify costing issues. This combination of financial and construction related skills are very valuable, and as a result these positions are typically well compensated.
Cost analysis is typically considered a business or accounting function, but is part of the job requirements for a construction analyst. The areas of analysis are usually focused on trade services, contract compliance, and purchase agreements. Many service contracts are extremely complex, requiring significant administration and management to complete accurately.
Providing cost and drawing analysis reports is an important part of this job. These reports are used by management to negotiate contracts with suppliers, decide what type of projects to complete, and review the quality of architectural firm services. The detailed analysis of the drawings and blueprints is critical to implementing improved designs, resulting in better quality products for a lower price.
A career as a construction analyst requires dedication to continuing education. Technology is constantly changing, and it is necessary to invest time and effort to stay current. Career advancement in this field typically requires further education in management or certification in a specific software program or tool. This career is forecast to have a greater than average growth in the next five to ten years.
Many people who become construction analysts have years of experience working in a skilled construction trade. This career is an excellent way to leverage that specialized knowledge into a job that does not require as much outside, physical work. A strong background in the construction industry will result in more accurate analysis, due to the enhanced understanding of business practices and challenges.
One of our editors will review your suggestion and make changes if warranted. Note that depending on the number of suggestions we receive, this can take anywhere from a few hours to a few days. Thank you for helping to improve wiseGEEK!