Variance report
A document that compares actual project performance with planned performance, highlighting any deviations.
Variance reports compare actual project performance against planned objectives, identifying deviations in cost, schedule, or scope. They are crucial for monitoring progress, managing risks, and supporting corrective actions. By providing insights into project health, variance reports facilitate transparency, accountability, and informed decision-making, enabling project teams to address issues proactively, optimize resources, and maintain alignment with project goals and stakeholder expectations.
Used in a sentence
The variance report showed a delay in the schedule.
Synonyms/variation
Deviation Report
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