Variance analysis is the process of comparing the planned project results with the actual project
results and identifying the causes and impacts of any deviations. Variance analysis helps project
managers to monitor and control the project performance, identify and mitigate risks, and
implement corrective actions or changes if needed. Variance analysis can be applied to various
aspects of the project, such as scope, schedule, cost, quality, and resources. Reference:
A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition, Chapter
4.5.3, p. 123
Planned vs. Actual Progress Explained - SmartPM
