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Variance analysis, trend analysis, and earned value techniques are: ?

A. Process analysis techniques B. Quality control tools and techniques C. Performance reporting technique D. None of the choices are correct E. Cost-benefit analysis techniques

Web Development Variance Analysis Earned Value Management Project Management
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Question added by Muhammad Farooq , QA-QC MANAGER , AL Bawani contracting co.
Date Posted: 2018/12/19
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Saiyid Maududi-Oracle Applications Consultant
by Saiyid Maududi-Oracle Applications Consultant , Entrerprise Architect , US Technomatrix, Inc

Hi Team,

Variance analysis is the variation between plan and actual project performance. It further helps to identify causes and assess severity of deviation. Moreover, the planned performance is any project performance metrics like schedule, cost, scope and risk.

A well structured variance analysis should include the following aspects.

  1. Identify the affected key performance indicators?
  2. Assess the quantum of deviation?
  3. Estimate the degree of impact on project performance?
  4. Identify the causes of variation?
  5. Establish the corrective action?
  6. Estimate the resources required to implement the corrective action?
  7. Establish time schedule required to implement the corrective action?
  8. Recommend preventive action?

Muhammad Farooq
by Muhammad Farooq , QA-QC MANAGER , AL Bawani contracting co.

C. Performance reporting technique

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