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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
 
 
 
 
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

Money Management Action Plan
 
 
 
Home » Glossary » What is Task Variance?
What is Task Variance?  

What is Task Variance?



 
 

Task Variance refers to the difference between actual and expected performance of a task. It is a measure that shows how task performance is changed throughout a certain period of time. The measure of task variance serves as a convenient way of performance control through identifying changes happened with a task.

Task variance can be identified and measured by carrying out variance analysis. Such an analysis aims to compute the difference between reached and targeted levels of task performance and to identify variance causes. The analysis is of fundamental importance to effective task management because it helps determine performance variation threshold which triggers a remedial action or warning.

There are several common factors that may cause variation (decrease) of task performance:

  • Changes in HR structure. Example: employee dismissal, insufficient competencies, lack of training.
  • Changes in management structure: lack of supervision, poor leadership, unmotivated employees.
  • Changes in finance structure: irrelevant cost allocation, lack of finance control, larceny.

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