On complex projects, there is often a lot of detailed work to do to maintain project documentation, manage requirements, assimilate and communicate vast amounts of data – and all these are tasks that a project analyst excels at.
What is a project analyst?
You might not have heard of the project analyst role before, either as a career option or as a valuable member of your PMO team. It is a specialist role, and sometimes smaller companies don’t have someone with this job title. However, you probably have someone doing the job, and as your project management maturity grows, smaller firms will want to add analysts to the team.
The larger and more complex your projects, the harder it is to run them without someone specifically focusing on data analysis and project support.
A project analyst normally reports to the project manager and is responsible for the production of data-driven reports and assessments. This can include proposals, presentations, monthly status reports and board reports.
Aspects of a project analyst job description
On a project analyst job description you’ll commonly see the following expectations.
Data analysis skills
Data analysis stretches from extracting timesheet data for monthly reporting to full earned value management reporting, or running risk simulations to see what the data predicts for the project.
Analysts in a project environment need to be comfortable with budget tracking and handling financial data as well as working with key performance metrics to assess project status.
Data analysis at the enterprise level relies on software, so the project analyst should be comfortable using computers. You will also see the specific type of software listed in the job description, as employers will want to know if you already have experience with the tools they use. If you don’t have experience of those exact systems, you can still apply for the role. Technical skills can be taught, and if you are computer literate and willing to learn, you may still be a good fit for the organization.
Communication skills
All that data is no good if it can’t be turned into information. People on the team need to understand what the data is telling them, so project analysts need excellent communication skills. They will often be involved in presenting the data via reports or slide decks, and may also present the data. Good written and spoken communication skills will be important for securing the job.
Planning skills
You’ll need a good understanding of the project planning process in order to make recommendations as a project analyst. The role is often responsible for using project management software to enter schedule information and carry out resource allocation and planning. As a result, you might pick up issues to escalate to the project manager.
Business analysis
In roles where the project analyst is also taking on the responsibilities of a business analyst, employers might be looking for evidence that you have business acumen and organizational knowledge that will help you elicit, manage and facilitate the delivery of requirements.
Projects can only be successful if they deliver something of value to the business, which makes requirements planning and management key to achieving your goals. The project analyst can take on this responsibility, working with business stakeholders to uncover their wants and needs, and making sure this is fed into the project plans.
Employers may also look for a certification in business analysis.
Project Support
Finally, the job description might list other support activities the analyst is expected to carry out. This can involve anything from document management to maintaining the lessons learned database, escalating issues to process improvements or financial reviews. The exact requirements will depend on what the project team expects from the role, but you may find the job evolves as you work with your colleagues. As they see what you are capable of, they will most likely find more challenging tasks to help you learn and develop your skills.
Project analyst salary expectations
Analyst salaries depend on your level of experience and the organization itself. And because all project delivery roles differ between employees and countries, there will be some variation in salaries. One employer’s project analyst is another employer’s admin assistant, and yet another will expect the analyst to lead projects.
Read the job description carefully and make sure it is in line with your personal career expectations, especially if you hope the job will give you the background and experience to go on to lead projects in the future.
According to Payscale, you can expect a median salary of $60k in the United States.
Training for project analysts
Project analysts typically need project management training so they can work within the project environment and contribute to the project’s goals. However, they also benefit from technical training. As they’ll be in and out of your project management software, they need to be competent users of Primavera or whatever tools you use. They’ll need to interpret data in the system and extract it for reporting purposes, as well as input data accurately.
There are several career paths for people entering project management as an analyst. As the profession is set to grow, it’s a great time to be considering adding a project analyst to your team – or applying to be one.
If you’re ready to add a project analyst to your PMO, learn more about project staffing augmentation and your next steps for finding the right person for the team.