Learn what analysis of variance (ANOVA) is, how it works, and when to use it. See how it helps compare means across multiple data groups in statistics and research.

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 ...

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.

When a project is running exactly as predicted, there is no time variance to worry about. When events are happening ahead of schedule or behind schedule, you have a variance, which could pose ...