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