Knowing the Difference between Cost and Schedule Variance
A crucial part of running a business is ensuring a project is done within the projected timeframe. If a company fails to deliver within a specific timeframe, it will cost money and time. This is why variance analysis is done.Variance analysis is a way to determine the degree to which the figures deviate from the projected figure. A variance will be low if the actual results are closer to the projected potential. The more the exact figure differs from the projected figure, the higher the variance.
