The schedule variance and the cost variance provide the amount by which the spending is behind or ahead of) schedule and the amount by which a project is exceeding or less than) its budget.

Question

Quizplus · Accepted Answer

The statement is true. The schedule variance and cost variance are used to measure the deviation of actual project performance from the planned performance. Schedule variance measures the amount by which a project is behind or ahead of schedule, while cost variance measures the amount by which a project is exceeding or less than its budget.

The Schedule Variance and the Cost Variance Provide the Amount