Most variance reports list every line and bury the few that matter. This template starts with the answer, flags only the lines that breach a stated threshold, and gives each material variance a cause, an effect, a timing call and a next step. Six pages: summary, variance table, explanations, actions, forecast impact and a short guide.

The sample is a February 2027 report for Valemont Holdings: revenue $6.2M against a $6.5M budget, split into price, volume and mix, plus cost of sales, an overhead timing saving and an earned value check on a $22M project. Replace the threshold, the budget and actual columns, and each explanation with your own.