How to calculate Schedule variance and Effort Variance in a project?
Schedule variance and effort variance are the values which the corporate management wants to see in a project. This will help them analyse the performance of the project. Variance calculation is trickier but is very easy. Basic inputs are derived from the task planner or the task tracking sheet. This is the sheet that you maintain within the WBS. WBS has tasks and their respective start date and end dates which are estimated in the project initiation phase. Project Manager or team members have to update this sheet regularly…