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VARIANCE BOARD REGULAR MEETING AGENDA Wednesday, May 7, 2014, at 5:30 p.m. Roseville City Hall Council Chambers, 2660 Civic Center Drives The Variance Board agenda and staff reports for the agenda

How to fill out variance board

How to Fill out Variance Board:

1. Start by gathering all necessary information and data related to the project or process being monitored. This may include budgets, timelines, goals, and any other relevant metrics.
2. Create a clear and organized layout for the variance board. This can be a physical board or a digital spreadsheet, depending on your preference and available resources. Divide the board into columns or sections to track different aspects of the project.
3. Label each column or section of the variance board with the relevant categories or variables you want to monitor. This could include items such as planned vs. actual expenses, expected vs. actual timelines, or target vs. actual results.
4. Fill in the planned or expected values for each category on the variance board. This represents the baseline or target you initially set for the project.
5. As the project progresses, update the variance board with the actual values achieved. This includes entering the real-time or current data for each category, such as the actual expenses incurred or the actual time taken.
6. Calculate and record the variances for each category on the variance board. This is done by subtracting the planned or expected values from the actual values. Positive variances indicate overperformance, while negative variances indicate underperformance.
7. Analyze the variances on the variance board to identify any trends or patterns. Assess the impact of the variances on the overall project goals and objectives. This will help you understand the areas where you are excelling and where improvements may be needed.

Who Needs Variance Board:

1. Project Managers: Variance boards are particularly useful for project managers who need to closely monitor the progress and performance of their projects. It helps them track key metrics, identify deviations from the initial plan, and make timely adjustments to ensure project success.
2. Business Owners: Variance boards are valuable for business owners who want to keep a close eye on their financial performance and overall business operations. It allows them to compare actual results with the planned expectations and take appropriate actions to stay on track with their business goals.
3. Team Members: Variance boards can benefit team members who are responsible for specific aspects of a project. By regularly updating the board, team members can see how their individual contributions impact the overall project performance and understand their role in achieving desired outcomes.

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What is variance board?

Variance board is a document used to report deviations from planned values or targets in a project, program, or organization.

Who is required to file variance board?

The project manager or relevant team members are typically responsible for filing variance board.

How to fill out variance board?

Variance board is typically filled out by documenting the planned values, actual values, and calculating the variance for each relevant metric or target.

What is the purpose of variance board?

The purpose of variance board is to track and analyze deviations from planned values and take necessary actions to address any discrepancies.

What information must be reported on variance board?

The variance board typically includes planned values, actual values, calculated variances, reasons for deviations, and proposed corrective actions.