Project Budget Analyst
- Metro Manila, Philippines
- 25,000.00 - 34,973.00 PHP / month
Project Budget Analyst Job Description
The ENDEC, Inc. Budget Analyst helps organize the project finances. He/she prepares budget reports and monitors organizational spending per the budget and Work Breakdown Structure (WBS) objectives. The ENDEC, Inc. Budget Analyst prepares weekly, monthly, quarterly, annual and special reports and evaluates budget proposals. The ENDEC, Inc. Budget Analyst uses cost-benefit analyses to review financial requests, assess program tradeoffs, and explore alternative funding methods. The Budget Analyst also may examine past budgets and research economic and financial developments that affect the project's income and expenditures. The Budget Analysts may recommend project or program spending cuts or redistribute extra funds.
Throughout the project, the Budget Analyst oversees spending to ensure compliance with the budget and determine whether changes to funding levels are needed for certain Work Breakdown Structure elements. The Budget Analyst also evaluates projects and WBS elements to determine whether they are producing the desired results.
In addition to providing technical analysis, Budget Analysts must effectively communicate their recommendations to officials within the organization. For example, if there is a difference between the approved budget and actual spending, the Budget Analysts will write a report explaining the variations and recommend changes to reconcile the differences.
Project Budget Analyst typical work activities
Work activities vary depending on the nature of the project but typically involve:
- Work with program and project managers to develop the organization's budget
- Review managers' budget proposals for completeness, accuracy, and compliance with policies, contracts, laws and other regulations
- Combine all the program and department budgets together into a consolidated organizational budget and review all funding requests for merit
- Explain their recommendations for funding requests to others internal to the organization and external to the organization
- Assist the project management to analyze projects and find alternatives if the projected results are unsatisfactory
- Monitor organizational spending to ensure that it is within budget
- Inform project/program managers of the status and availability of funds
- Estimate future financial needs
- Analytical skills. Budget analysts must be able to process a variety of information, evaluate costs and benefits, and solve complex problems.
- Communication skills. Budget analysts need strong communication skills because they often have to explain and defend their analyses and recommendations in meetings and presentation with project/program and corporate management.
- Detail oriented. Creating an efficient budget requires careful analysis of each budget item.
- Math skills. Budget analysts must have excellent math skills and must be able to use certain software, including spreadsheets, database functions, and financial analysis programs with ease.
- Writing skills. Budget analysts must present technical information in business English writing that is understandable and acceptable for the intended audience.
Education and Training
A bachelor’s degree in a course such as accounting, finance, business, public administration, economics, statistics, political science, or sociology is required although a master’s degree is preferred. Because developing and managing a budget requires strong numerical and analytical skills, courses in statistics or accounting are helpful. If selected, to maintain employment the Budget Analysts must take and complete an 40 hours of continuing education every year.
Candidates must have a minimum of 3 years of professional-level experience in financial management, specifically budget analysis.
Project Budget Analyst Knowledge, Skills and Abilities
- Principles and practices of organization and management
- Thorough understanding of budget principles
- methods and techniques for conducting research and analysis
- various sources of revenue available from governmental contracts;
- of typical expenditures required to support governmental contracts for services;
- of the principles and practices of governmental accounting and budgeting;
- of project/program evaluation techniques;
- Small team coordination skills
- Self-starting and able to self-manage workload to achieve management goals
- Highly effective communication skills
- Computer Literacy/Use skills
- Review and analyze financial data
- Plan, estimate, to establish realistic budget goals and assist with management of project budgets
- Develop, read, understand and interpret contract language and reporting requirements
- Use appropriate computer programs/software to manage and communicate project progress, issues, status and other management issues.
- Clear, professional and concise written and verbal reporting skills in English and to organize and present facts and opinions accurately
- Analyze and understand project/contract/program goals and objectives
- Establish and maintain effective working relationships with others
- Report Writing
- Financial Reporting
- Business Analysis
- Attention to Detail
- Critical Thinking
- Microsoft / MS Excel
- Accountancy and BS Political Science
- Applied Economics [Financial Economics] and BS Business Management
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About ENDEC, Inc.
Engineering, design, construction and program management services throughout Philippines and SE Asia for demanding clients. 16 year firm that is well established and is growing.