What is variation?

Question

What is variation?

Accepted Answer

Variation refers to the degree of difference or deviation from a standard or expected value.

Variation can be caused by factors such as changes in materials, labor costs, or market conditions.
It is important for cost managers to analyze variation in order to understand the reasons behind cost fluctuations.
Examples of variation include price changes for raw materials, unexpected delays in project timelines, and fluctuations in exchange rates.

Accepted Answer

Variation refers to the degree of difference or deviation from a standard or expected value.
Variation can be caused by factors such as changes in materials, labor costs, or market conditions.

It is important for cost managers to analyze variation in order to understand the reasons behind cost fluctuations.

Examples of variation include price changes for raw materials, unexpected delays in project timelines, and fluctuations in exchange rates.

What is variation?

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