Performance Measurement Baseline Guide
What is Performance Measurement Baspline (PMB)?
It is a key tool in project management that combines scope, schedule, and cost baselines to form a performance measure against which project execution is compared. It also helps to identify variances in the project plan.
Why is it important?
The PMB provides an 'anchor' against which project performance can be measured. It helps the project manager to identify if the project is on track, ahead or behind schedule, over or under budget. Without a PMB, project control and project decision-making would be subjective.
How does it work?
The PMB compares actual project results against planned or expected results. If the actual results deviate significantly from the planned results, the project manager may need to take corrective action.
Exam Tips: Answering Questions on Performance Measurement Baseline
When answering exam questions about the PMB, it's important to understand the relationship between the scope, schedule and cost. Remember, a positive variance indicates that the project is under budget or ahead of schedule, while a negative variance means the opposite. It's also helpful to know how to calculate variances and how to interpret the results.
Expect scenario based questions requiring analysis of project performance against the PMB. It's critical to understand the actions a project manager might take in response to variances. In some cases, the project manager might need to adjust the baselines to reflect changes in the project scope or schedule.