Question

question 5
2 points
the cost or time difference between the actual project performance and the planned project performance is the definition of what?
a cost code
b variance
c escalation
d actual costs

Explanation:

To solve this, we analyze each option:

• Option A: A cost code is a classification for costs, not a difference between actual and planned performance.
• Option B: Variance in project management is defined as the difference (in cost or time) between actual and planned performance, which matches the given definition.
• Option C: Escalation refers to the increase in cost or time over time, not the difference between actual and planned.
• Option D: Actual costs are the real costs incurred, not the difference from planned.

Answer:

B. Variance