Track financial progress and variance
Altus enables you to monitor financial performance by comparing:
- Budget (planned cost)
- Forecast / EAC (Estimate at Completion)
- Actuals (realised cost)
Variance tracking helps you understand whether a project is:
- On budget
- Overspending
- Underspending
and supports proactive financial decision-making.
Where Variance Is Displayed
Variance is calculated and displayed directly within the:
- Project → Information → Financials tab
In the Financials grid, you will see:
- Rows for:
- Budget
- Forecast
- Actual
- Variance
👉 The variance appears as a calculated row in the financial grid, providing immediate visibility of financial performance.
How Variance Is Calculated
Altus calculates variance dynamically based on the current fiscal period, ensuring that both actual and forecast data are used appropriately.
Time-Based Variance Calculation
The variance formula automatically changes depending on the period:
- Past months / periods
- Variance = Budget − Actual
- Current and future months / periods
- Variance = Budget − Forecast
👉 This ensures:
- Past periods reflect actual financial performance
- Current and future periods reflect projected financial outcomes
Additional Variance Calculation Options
Altus also supports alternative variance calculation methods based on configuration.
1. Budget vs EAC (Estimate at Completion)
- Variance = Budget − EAC
This compares:
- Original approved budget
- Latest projected total cost
✅ Used to measure the overall expected financial outcome at completion
2. Budget vs Forecast
- Variance = Budget − Forecast
This compares:
- Planned budget
- Current forecast over time
✅ Used to track ongoing financial performance during delivery
What Variance Indicates
- ✅ Positive variance → Costs are below budget (favourable)
- ⚠️ Negative variance → Costs exceed budget (unfavourable)
Variance helps identify:
- Cost overruns
- Forecast misalignment
- Shifts in delivery assumptions
Using the Financials Grid
The Financials grid provides a consolidated view of:
- Budget
- Forecast
- Actuals
- Variance
This enables you to:
- Track performance across time periods
- Monitor trends by category (e.g. Opex / Capex)
- Identify issues early and adjust forecasts
👉 The finance grid is designed as the central location to manage and analyse project financial performance.
Tracking Variance in Insights (Power BI)
Variance is also surfaced in Insights reports, providing higher-level analysis.
Project Level
- Compare:
- Budget vs Forecast vs Actual
- Track variance trends over time
Portfolio / Program Level
- Aggregate financial performance
- Identify:
- Portfolio-wide cost overruns
- Financial risk areas
Insights dashboards include:
- Forecast vs Actual vs Budget comparisons
- EAC tracking and variance indicators across portfolios.
How This Impacts Altus
Tracking variance enables:
- Early identification of financial risks
- Improved forecast accuracy
- Better decision-making at project and portfolio level
It supports:
- Governance reporting
- Financial oversight
- Stakeholder confidence
Key Considerations
- Variance depends on:
- Accurate budget setup
- Up-to-date forecasts
- Regular import of actuals
- Variance values update based on:
- Forecast changes
- Timesheet actual imports
Tips
- Review variance regularly as part of:
- Status updates
- Financial reporting cycles
- Use Insights dashboards for:
- Executive-level reporting
- Trend analysis
- Combine:
- ✅ Resource and Non-Labour Forecasts (planned cost)
- ✅ Timesheet and Non-Labour Actuals (actual cost)
- ✅ Variance (performance insight)
👉 This provides a complete lifecycle view of:
Budget → Forecast → Actual → Variance