Understanding Cost Variance in Project Management

In the world of project management, understanding the financial metrics that drive success is vital. One such metric is cost variance (CV), which indicates how well a project is adhering to its budget. So, if you’ve ever asked, “Am I overspending?” or “How far off am I from my budget?” this article is for you! Today, we’ll dive into a practical example of calculating cost variance and why it’s crucial for your project’s overall health.