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Project Variance Report Checklist

 

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Project Variance Report Checklist Project Variance Report Checklist is created for project managers who wish to derive variance between actual and planned values of the critical project parameters. With a help of this checklist you can create worksheets for creating project variance forms and learn algorithm of using them.


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Formatting the Project Variance Report:

  • Identify a project matter which you would like to measure and report in terms of variance (time, budget, effort, etc);
  • Identify items you would like to appraise and report in terms of variance (usually they are tasks, project deliverables or some other working items);
  • Create or select appropriate template for preparing your Project Variance Report – usually it is a tabular worksheet where you can list items to be analyzed and their related fields;
  • Ascertain your template of Project Variance Report has the space (a special column) to record Description or Name of the items to be attributed and reported, let’s say a task name;
  • Make sure it has a column of fields to record planned values of the targeted attribute (e.g. costs, duration, etc) – blank fields should go in line against every field for item name;
  • Check if it also has a column of fields to capture actual values of this attribute(s);
  • Ensure it has a column for recording calculated values of variance/slippage (can be computed as equal to planned values minus actual values);
  • Additionally you may have a column of fields to record personal responsibilities for each task;
  • Check whether you have a place for Comments and anything else you may need in your report;
  • Create a paper copy of the template, or develop electronic spreadsheet-based solution;

Filling the Project Variance Report:

  • Identify frequency and time periods when you would like the reports to be filled and submitted for analysis (for example every week or since certain project stage is over);
  • Record the planned values into appropriate fields in your Project Variance Report;
  • Measure the actual values and record them into appropriate fields against the planned ones;
  • Derive the variance.......





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