What is Cost Variance?
Cost Variance is defined as: Difference between budgeted and actual project costs. Positive variance indicates under-budget delivery.
What data source is used to measure Cost Variance?
Cost Variance is typically measured using data from a Job Costing System. This system of record provides the transactional and operational data required to calculate and monitor this metric accurately and in real time.
Typical Data SourceJob Costing System
Which industries track Cost Variance?
Cost Variance is a key performance indicator used across the following sectors:
How does Firehawk Analytics measure Cost Variance?
Firehawk Analytics connects directly to your Job Costing System and delivers a live Cost Variance dashboard. Configuration is completed within 48 hours — no data analyst required on your team.