Variance Analysis

Variance analysis is the practice of comparing actual project results to what was planned or expected. It's a reporting method to quantify how well ― or how poorly ― a capital project is progressing.

Variance Analysis

For capital PMs, Variance Analysis is an essential tool to pinpoint deviations from expected outcomes. Before you can use variance tracking and reporting though, it is important to establish starting baselines for your project: specifically cost and schedule targets. Without these in place, you will be attempting to control a moving target and will struggle to effectively monitor performance or identify issues that require corrective action.

Once project scope and baselines are established Variance Analysis provides the means to:

  • Identify potential problems in a timely manner
  • Determine inefficiencies that cause unanticipated costs or delays
  • Enable proactive responses to mitigate issues early

Our state-of-the-art software puts Variance Analysis at your fingertips. With its real-time reporting capabilities, you can monitor the project's progress and financial performance accurately, carrying out Variance Analysis dynamically. Further, its integrated risk management features make tracking and addressing deviations efficient and straightforward.

Trust our cutting-edge technology to strengthen your way towards consistent project success.