Definition:
In project management, a baseline is the authorised plan for scope, cost, and schedule used as a benchmark for project performance evaluation. It provides a standard by which to monitor deviations and guarantee responsibility.
Key Aspects:
- Scope Baseline: Defines project deliverables and work breakdown structure.
- Schedule Baseline: Establishes planned timelines for key milestones.
- Cost Baseline: Sets the approved budget and financial allocations.
- Performance Measurement: Used in Earned Value Management (EVM) to assess deviations.
Example:
A building project can have a baseline stating, with a $200,000 budget, that foundation work should be finished in two months. Should delays or cost overruns arise, managers evaluate actual development against this benchmark to pinpoint areas needing correction.
Challenges & Solutions:
- Frequent Scope Changes: Implementing a change control process minimizes disruptions.
- Unrealistic Baselines: Ensuring initial planning is realistic prevents constant revisions.
- Lack of Monitoring: Using project management tools enhances baseline tracking.
Conclusion:
A well-maintained baseline enhances control, improves forecasting, and ensures project stability.
