This is primarily a performance management tool.The baseline is one of the most popular project management terms among project managers. A baseline is used to measure the performance of the project. There are three baselines in project management. These are –
Schedule baseline
Cost baseline
Scope baseline
Hey fellow project managers!
I wanted to shed some light on the concept of a “baseline” in project management, as it’s a crucial element in ensuring the success of any project. Simply put, a baseline is like our project’s roadmap. It’s a reference point that we establish at the beginning to track and measure our progress.
This baseline typically includes the project scope, schedule, and cost estimates. Think of it as our initial plan, and as we move forward, we use it to compare where we are now with where we should be. It helps us identify deviations, make necessary adjustments, and keep the project on track.
In a nutshell, a baseline is our project’s foundation for success. So, make sure to create a solid one and use it wisely!
For more information please visit the website: https://pmoglobalinstitute.org/