Project Budget Variance Calculator

Calculate Project Budget Variance step by step: Budget variance = budget − actual (or forecast).

In short

Formula: Budget variance = budget − actual (or forecast). Variance % = variance ÷ budget.

Complete the required fields to see the result.

What this calculator does

Calculate Project Budget Variance step by step: Budget variance = budget − actual (or forecast). Worked example, questions and limitations included.

Use it to turn Currency (symbol only, never converted), Approved budget, Actual or forecast cost into a checked result you can compare, copy, or rerun with different assumptions.

The page shows the formula, a numeric worked example, and the assumptions that affect this pmo calculation.

Inputs and what they mean

Currency (symbol only, never converted): — choice value.
Approved budget: — number value.
Actual or forecast cost: — number value.

How to use it

Enter each value in the unit shown next to the box (use the unit converter first if your numbers are in other units).
Check the breakdown to see every intermediate step.
Read the limitations before relying on the result.

Formula

Simple budget-versus-actual reporting used in PMO dashboards.

Unlike EVM cost variance, it does not account for progress, so under-spending can simply mean the work is late.

Use forecast cost (EAC) instead of actual to report expected variance at completion.

Budget variance = budget − actual (or forecast). Variance % = variance ÷ budget.

Inputs used: Currency (symbol only, never converted), Approved budget, Actual or forecast cost.

Worked example

Budget 250,000, actual 270,000

250,000 − 270,000 = −$20,000.
−8% (over budget).

Reading the result

The headline figure is the main answer. Any breakdown underneath shows the parts that make it up, so you can check the working and see what changes when you adjust an input.

Limitations and assumptions

Ignores progress.
Single line; no category breakdown.
Timing differences can distort mid-project figures.
Results are planning estimates built only from the figures you enter. They are not a guarantee of cost, schedule or delivery, and they do not replace your organisation's own project controls.
The result depends on the values you enter for this project budget variance calculator; it does not supply missing rates, rules, prices, dates, or assumptions for you.

Common questions

How is this different from cost variance?

Cost variance compares the cost of work done with its budget (EV − AC). Budget variance compares total spend with total budget, regardless of progress.

Is under budget always good?

No. It may mean work has not happened yet.

What sign convention is used?

Positive = under budget, negative = over budget, matching the EVM convention. Check the formula, example, and limitations on this page before using the result for a real pmo decision.

How do I use the Project Budget Variance Calculator?

Enter the required values for Currency (symbol only, never converted), Approved budget, Actual or forecast cost. The calculator applies the formula on this page and shows the main result with any supporting breakdown so you can check the arithmetic.

What formula does the Project Budget Variance Calculator use?

Budget variance = budget − actual (or forecast). Variance % = variance ÷ budget. The visible formula section above lists the calculation path and the edge cases the page handles, so the result can be checked without relying on the form alone.

Can the Project Budget Variance Calculator be used for exact decisions?

Use it as a calculation aid, not as a substitute for checking the underlying rule, contract, policy, or professional advice that applies to your situation. When a result depends on local rules, personal details, prices, or dates, enter those values yourself and confirm them before acting.