• An Exception Report is produced when costs and/or timescales for an approved Stage Plan are forecast to exceed the tolerance levels set. It is sent by the Project Manager in order to appraise the Project Board of the adverse situation.
   

Contents:

• Description of Deviation from Stage Plan
• Consequences of the Deviation
• Available Options
• Effect of Options
• Business Case
• Risks
• Project Tolerances
• Stage Tolerances
• Project Manager’s Recommendation