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How to Calculate Cost Variance for a Project (Formula Included)
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How to Calculate Cost Variance for a Project (Formula Included)
Throughout the life of a project, project managers check in on progress and compare it to the project plan—comparing their predictions to reality. If they don’t do this regularly, odds are the budget will suffer and their project will fail. Luckily, these deviances from the plan, such as cost variance, don’t have to sink a project. In fact, they can strengthen it. The key is spotting them and making adjustments to stay on the right path. One of …
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