Examlex
What are the four steps in the effective management of variance analysis?
Critical Path
The longest sequence of activities in a project plan, which determines the shortest possible duration for completing the project.
Probability
A measure of the likelihood that an event will occur, expressed as a number between 0 (impossible) and 1 (certain).
Variance
A statistical measure that represents the degree of spread or dispersion of a set of values from their mean.
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