This workshop provides the student with a thorough understanding of variance analysis reporting. Included are the use of formulae and indices, labor and material variance analysis and performing the Estimate at Completion. Narrative variance analysis, including the required cause, impact, and corrective action and corrective action planning, is a key element of this workshop along with how to isolate the causes of variances. Through examples of both good and bad variance narratives, the student gains an understanding of variance reporting requirements. Since accurate analysis requires accurate data, the fundamentals of performing data traces are also included in this workshop. Case studies are used in the workshop to enhance the learning objectives.