Variance Flashcards
1
Q
Define variance
A
What you think you are going to spend but not what you actually spend
2
Q
What is positive variance
A
Better than expected
3
Q
What is it when you get worse than you expected ?
A
Adverse variance
4
Q
What can we do with a variance
A
- Investigate the cause
2. Act to remedy the problem (if appropriate)
