Definition
A Performance Measurement Baseline (PMB) is a set of approved project plans for scope, schedule, and cost used to measure project performance. It serves as a reference point for tracking progress, deviations, and forecasting outcomes.
The PMB consists of:
- Scope Baseline: Defines project deliverables.
- Schedule Baseline: Establishes approved timelines.
- Cost Baseline: Determines the estimated budget.
Advantages
✔ Provides a Clear Benchmark – Helps track progress against approved goals.
✔ Enhances Risk Management – Identifies deviations early.
✔ Improves Stakeholder Communication – Offers transparency on project performance.
✔ Supports Data-Driven Decision-Making – Uses real metrics for adjustments.
Disadvantages
✖ Can Become Rigid – May not allow flexibility for unexpected changes.
✖ Requires Ongoing Updates – Needs frequent adjustments to remain accurate.
✖ May Be Difficult to Define at the Start – Requires detailed planning early on.
