Cost and schedule variance data are part of earned value analysis, which is a tool that small and large businesses use as an early-warning system to identify and manage problems in ongoing projects.

Small businesses often estimate their inventory. If you operate your business on the basis of inaccurate inventory figures, however, you may experience stock outs -- running out of products when ...

Identify budget overages and savings to forecast future costs more accurately. Use variance analysis to pinpoint operational areas needing financial adjustment. Regularly update budgets based on ...

Daniel Jassy, CFA, is an Investopedia Academy instructor and the founder of SPYderCRusher Research. He contributes to Excel and Algorithmic Trading. David Kindness is a Certified Public Accountant ...