Are projects delivered within the time and budget agreed?
The gap between the time a project was scoped to take and the time it actually took. Small variances, repeated across a portfolio, account for a surprising share of lost margin.
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Projects landing within 10% of budget is a common target. Persistent overruns beyond that point to estimating or scope control issues.
The difference between what a project was expected to take, in hours or cost, and what it actually took. It can be measured at the end of a project and at stages along the way, so problems are spotted while there is still time to act.
Small overruns across many projects add up to a significant loss of margin, and they rarely show in the headline figures until the year end. Variance shows where estimates were wrong, where scope grew without a fee change, and which types of work are consistently underpriced. It also gives you the evidence to raise fees or tighten scope with confidence.
Time recording needs to be complete and coded to the right project and stage, otherwise variance cannot be measured. Record the reason for each significant overrun, such as scope change, estimating, client delay or internal rework, as the pattern matters more than any single project. Review live projects at agreed milestones, not only at completion, and decide in advance at what point an overrun triggers a conversation with the client.
Most owner-managed businesses don't, or they work it out in a way that flatters the result. We'll calculate it from your own numbers and show you what it's telling you.
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