The schedule variance and the cost variance provide the amount by which the spending is behind or ahead of) schedule and the amount by which a project is exceeding or less than) its budget.

Schedule Variance

Schedule variance is a project management metric that measures the difference between the planned and actual progress of a project, used to assess project health and performance.

Cost Variance

The difference between the budgeted cost of a task or project and the actual cost incurred.

Spending

The act of utilizing financial resources to purchase goods, services, or assets, or to cover operating costs.