Variance Analysis types and importance.pptx

variance analysis
types
importance

1. SPM [email protected] Its importance in project management Presentation - 2024 Variance analysis &

2. Variance analysis Variance analysis refers to comparing actual project performance to planed performance. It is done to identify difference or variance to ensure project remain on track . Cost variance & Schedule variance

3. Types Cost variance Schedule variance Schedule variance measures the difference between the work planned to be completed by a certain time and the work actually completed by that time. Cost variance means comparing earned value to actual value of work performance completed by that time.

4. Importance Early Problem Detection : Variance analysis allows project manager to identify deviations from the project plan early. Budget Control : By analyzing cost variance, project managers can track whether the project is staying with in a budget.

5. Schedule Management : Schedule variance analysis help in monitoring the project’s timeline. Quality Assurance : Quality variance analysis help in maintaining the desired quality standard for project deliverables.

6. Variance analysis is an essential tool in project management that ensure project are completed within budget, on time, and to the desired quality standard . Conclusion

7. SPM Dikshant Acharya Thank You For Your Attention