26 Nov What are Baselines
Baseline is defined as an approved version of plan for a project and can be changed only through formal change control procedure. Once the plan is created and got approved then it becomes the baseline and is used to compare with actual performance to determine if the variances are there or not.
How you use it in your project: At any point of time you compare your actuals with the baseline and then you may find variances. Then you analyze the variance and see if it is within the threshold. If you find that it is beyond threshold limit you have set then you analyze it further and try to control it.
Different type of Baselines
– Schedule Baseline
– Cost Baseline
– Scope Baseline
– Performance measurement baseline etc.
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