1.1 Critical analysis – analyses in professions transcript

Cost analysis

A cost analysis examines the cost of something and whether the benefits justify what is being spent. This type of analysis might be completed by professionals such as financial analysts, accountants, project managers, and business analysts working within a range of industries.

Risk analysis

A risk analysis examines the potential for problems which could impact a decision, process, or project. The goal of this type of analysis is to identify the risks and their consequences and figure out whether they can be avoided, and what to do if a problem occurs. Risk analyses can be completed by professionals like risk analysts, risk managers, actuaries, project managers, financial planners, and school safety coordinators.

Environmental impact analysis

An environmental impact analysis looks at how a process or project might damage the environment and ways this impact can be prevented or minimised. It’s crucial to working towards sustainable processes. This type of analysis often informs decision-makers and can guide responsible development. Environmental impact analyses are often completed by environmental scientists, engineers, sustainability officers, urban planners, regulatory compliance specialists, and landscape architects.

Market analysis

A market analysis is used to make decisions related to business, marketing, and strategic planning. It examines different aspects of a market, like its size, audience, current trends, and the key players in the market (the competitors). This type of analysis is carried out by professionals such as market research analysts, marketing managers, social media managers, business development managers, product managers, and strategy consultants.