variance analysis and corrective measures

Variance analysis refers to the process of comparing actual results with planned or expected outcomes in order to identify and understand differences or discrepancies. It involves analyzing deviations in performance, such as deviations in revenues, costs, or other key metrics, to determine the reasons behind the variance. Corrective measures, on the other hand, are actions taken to address these identified variances and bring actual performance back in line with the desired or planned objectives. These measures involve making adjustments, changes, or improvements to operations, processes, or strategies to mitigate the negative effects of the variance or to capitalize on positive variances. The aim is to effectively manage and control performance, optimize resources, and drive the organization toward its goals.

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