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Perceived utility

Allegedly a contraction of the words value and performance.
The valance of the reward offered was very high.
valance by ch1ptune November 22, 2007

Known Variance Reconciled (KVR) 

1. Variance that is reconciled
2. Variance that is known and reconciled
3. Known variance just because
4. Known variance because we know it is a variance
5. Known variance that will not be resolved
6. Variance that is know and reconciled, however not sure what to do with the variance or clear.
I see a $10,000 variance. Its definitely a known variance reconciled (KVR). I don't know what it relates to so let's KVR it.

Holly Valance 

Holly Valance is an abhorrently untalented "singer" and "actress" who is nevertheless popular because she shows her ass and legs to everyone. Luckily for her, both are quite good, otherwise she wouldn't be famous. Like many famous young women these days, her popularity is not driven by talent, but by the masturbatory fantasies of young men. She is most famous for her video for her single "Kiss Kiss" in which she pranced around naked for four minutes, with only little CGI lighting effects obstructing view of her nipples and pussy. The most recent addition to her resume is the role of a stripper/prostitute on Prison Break. Naturally.
"Ooohhh Holly Valance... that's how I want it baby... oh yeah!!"
Holly Valance by Tom Jac. October 14, 2007

holly valance 

Sexy female singer from Australia, with a sweet body and great voice, also known for her acting skills.
She is a GODDESS!!!
To hard to touch
Is getting to much
you know is just a State Of Mind
holly valance by Dark Chronos January 20, 2005

variance 

a. The act of varying.
b. The state or quality of being variant or variable; a variation.
c. A difference between what is expected and what actually occurs.
2. The state or fact of differing or of being in conflict.
Firmly resolved, after putting his affairs in order in the regiment, to retire from the army and return and marry Sonya, Nicholas, serious, sorrowful, and at variance with his parents, but, as it seemed to him, passionately in love, left at the beginning of January to rejoin his regiment.
War and Peace by Tolstoy, Leo
variance by English Student November 4, 2013

holly valance 

TALENTLESS singer whose voice is so crap, strips to sell records, her version of Kiss Kiss sucked, Tarkans version is excellent, so is the Arabic version by Rida and Nina Boutrous(El Bawsi), Holly Valance can not sing, makes some of the worst music, lucky her record company dropped her.
holly valance by Tina February 10, 2005