How to Calculate Cost Variance for a Project (Formula Included)
When project managers have this earned value analysis information, they can make the necessary adjustments to stay on track. Solving for a complete cost performance index (TCPI) is extremely helpful, especially if you’re experiencing a high (negative) project variance. Thankfully, there are cost management tools that make keeping your eye on variances effortless so that you don’t have to manually crunch the numbers. ProjectManager fills formulas with the correct values automatically and prevents any human error that can lead to major budgeting mistakes. The ProjectManager project dashboard updates automatically, so you’re always looking at the most current figures and making the smartest budgeting decisions.
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