White Paper
AACE Variance and Analysis Reporting
Overview
Variance Analysis and Reporting AACE Recommended Practice: Using ARES PRISM to Conform to the AACE International RP 86R-14.
This white paper explores AACE’s recommended practice 86R-14, which provides guidance for planning, performing, managing, and controlling the variance analysis process. It outlines how to use ARES PRISM project controls software to easily follow the guidelines outlined in the recommended practice.
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“PRISM G2 provides a thorough platform for Variance Analysis Reporting. It provides a useful tool to build your Variance Analysis Report and provides helpful information to lead you to the root cause. PRISM G2 conforms to the AACE Recommended Practice 86R-14.”
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To perform variance analysis you must have an accurate measure of the progress and current costs of each control account. A great deal of the functionality of the Cost Management Modules within PRISM G2 enables you to readily gather progress information for your project. To generate an accurate measure of progress requires information from diverse sources. For this reason there are approximately thirty five progress measurement method codes – each of which represents a different calculation method or source of progress information.
