Variance in the context of construction refers to the deviation or difference between the planned or estimated quantities, costs, or timelines, and the actual quantities, costs, or timelines encountered during the construction process. Variance can occur due to a variety of factors, including changes in material prices, unexpected site conditions, design changes, or human error. It is crucial for construction project managers to closely monitor and analyze variances in order to identify potential issues early on and take corrective action to prevent delays or cost overruns.Managing variance in construction projects involves regularly tracking and comparing actual performance against the initial project plan and budget. By identifying and addressing variance in a timely manner, project managers can make informed decisions to mitigate risks and keep the project on track. This may
What is Variance?
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