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Procurement · Definition
The difference between the price paid and the expected or standard price.
PPV compares actual purchase prices against a standard, budget or last-paid price and reports the gap. Favourable variance means you bought below expectation; unfavourable means above.
Analysed by supplier and item, PPV exposes price creep, off-contract buying and inconsistent pricing between sites — the leakage that spend totals alone hide.
PPV = (Actual price − Standard price) × Quantity purchased
A negative result is favourable.
See it in AWRA OpsHub
Procurement Insights
Procurement runs on this vocabulary every day in AWRA OpsHub — 40 of our 257 glossary terms describe things the platform actually does.