Project Baselines
A project baseline is the starting point or a standard by which the project scope, schedule and costs are measured. Keeping these baselines in mind helps control scope creep by setting the standards against which project performance is measured. A baseline can be a benchmark for the whole project or individual tasks. Any deviation beyond the baseline must be justified and approved through the change management process. This way, it ensures that any required changes or additions align with the project goals and objectives, keeping scope creep in check.
Guide to Project Baselines in CAPM
What is Project Baselines:
A Project Baseline is a point of reference in project management from which deviations are measured. It comprises three key components: scope, schedule, and cost. These are set at the initial phase of the project and serve as a compare point for the actual performance of the project.
Why Project Baselines are Important:
Project Baselines are crucial for effective project management. They allow monitoring and comparison of actual project performance against planned objectives. They help identify deviations, evaluate risks, and initiate corrective actions when needed.
How Project Baselines Work:
During the planning phase, the project manager establishes baselines considering project scope, budget, and timeline. As the project commences, the manager tracks the project's deliverables against these baselines, helping to identify deviations and to take appropriate actions.
Exam Tips - Answering Questions on Project Baselines:
For the exam, understand clearly the components of Project Baselines. Be aware of how and when they are set, and the impact of changes in these baselines on the overall project performance. When answering questions, think in terms of the practical application of baselines in project tracking, project evaluation, and implementing corrective actions.
Remember:
In any exam scenario, 'change' is a common theme. In regards to Project Baselines, any change will need to undergo a formal change management process. This could be an aspect that your examination might revolve around.
Go Premium
Certified Associate in Project Management Preparation Package (2024)
- Earn 15 PDUs needed for your CAPM certification
- 4454 Superior-grade Certified Associate in Project Management practice questions.
- Accelerated Mastery: Deep dive into critical topics to fast-track your mastery.
- Unlock Effortless CAPM preparation: 5 full exams.
- 100% Satisfaction Guaranteed: Full refund with no questions if unsatisfied.
- Bonus: If you upgrade now you get upgraded access to all courses
- Risk-Free Decision: Start with a 7-day free trial - get premium features at no cost!