Schedule Variance, Essay Example

Schedule variance (SV) is in dollars and does not directly represent time. Why is it still useful?

Schedule variance is basically defined as the deviation that is considered by project managers as they intend to adjust budget schedules for particular projects they are completing. It specifically involves the need to see through the baseline of the plan and from there create a variation that would enable the project manager to compare values between the budgeted cost and the work that is foreseen to be performed by the members of the team as the project is being completed. Although this process of project planning and management is based on dollar valuation, it could be realized that it is considered applicable in general conditions of budget-schedule adjustments. Project managers continue to use it as it sets the balance needed to identify if the work being completed is in par with the goals being reached by the team as they set off to complete a task they have been given to fulfill.

This approach of operation does not include concentration on time measurement to avoid any conflicts and complications during the process of balancing operations with the desired results from the procedures being embraced by the team. Aiming to provide a distinct focus on budget issues, the schedule variance proves to be useful in general conditions and setup of project management as it does indicate a sense of control on how operations are considered in line with the operations completed for the project’s fulfillment in line with the budget allotted for each phase that completes the overall project. It has been proven applicable in the overall concept of completing specific projects that are highly dependent on tight budget scheduling options. With this approach considered, project managers could see how adjustments might be needed or not to determine the course of their project operations as they try to meet the goals that have been set for them to fulfill throughout the project’s completion.