Variance analysis

Variance analysis is a form of measurement that can be used by management to determine where differences are acceptable and where more focus should be placed to improve overall performance of the business. As a future business owner or manager, you need to understand how one could use variance analysis as a daily management tool.

For this module’s project piece:

In a 1-2 page Word document, describe how you would use variance analysis against this project’s previously defined cost objects, drivers, budget, and decision making framework.

Specific attention should be placed on how this analysis would be used as a tool by management to correct issues that might arise.

 

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