Question

What do the following mean in project management:

-positive expenditure variance?

-negative schedule variance?

-negative cost variance?

positive/negative

Answer 1

Positive expenditure variance means that the expense is less than the budgeted amount. Having a positive expenditure variance is a good thing.

Schedule variance tells us whether the project is ahead or behind the time schedule. A negative schedule variance means that the project is behind the planned time schedule.

Negative cost variance means that the expense or cost of the project is more than the budgeted amount. Having a negative cost variance is a bad thing.