When you need it
Use this analysis when an observed project result differs materially from its approved comparison basis and management needs to understand the cause, likely consequences, corrective options, and effect on the remaining forecast.
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Project Variance Analysis
Explain a material performance variance and the corrective action supported by evidence.
How to use this templateThis Word template contains prepared headings, tables, project fields and completion notes. Add your information, review the completed document and remove the notes before issue.
The form prepares a separate brief; it does not fill the Word or Excel file.
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Learning
How to use this template
What it helps you decide
It turns a reported deviation into a decision, separating measurement issues from genuine performance problems and connecting recommended corrective action with the evidence, baseline, and future outcomes that justify intervention.
How to complete it
- Define Variance and comparison basis and reconcile Baseline and observed result so the comparison uses consistent scope, units, dates, and source evidence.
- Investigate Cause and consequence analysis, distinguishing demonstrated drivers from hypotheses, then compare Options and recommendation against feasibility, interfaces, and expected recovery effects.
- Record Corrective actions and Forecast and unresolved uncertainty, identifying what evidence will confirm effectiveness and whether a separate baseline or contractual decision is required.
Who prepares and reviews it
A project controls analyst usually prepares the analysis with the affected package lead, planner, cost specialist, and technical contributors. The project manager reviews options, while the appropriate authority approves actions that change budgets, baselines, or commitments.
A mistake to avoid
Attributing every variance to poor productivity before reconciling scope, reporting dates, and measurement methods can trigger corrective action against the wrong underlying cause.
Illustrative example
Illustrative example: concrete productivity falls below the planned basis on a basement package. The analysis compares equivalent work quantities, finds repeated access conflicts, and evaluates revised delivery sequencing. Management selects a coordination change and updates the forecast while retaining the original baseline for transparent comparison.
Document contents
- Variance and comparison basis
- Baseline and observed result
- Cause and consequence analysis
- Options and recommendation
- Corrective actions
- Forecast and unresolved uncertainty
Required inputs
- Project name, location, company, document number and revision
- Actual project scope, source records and responsible roles
Practical tools.
Professional judgment.
Confirm the adopted edition, local amendments, National Annex where relevant, and contract requirements.
Prepare project brief