Brief Summary
This video explains the concept of a project baseline in project management. A project baseline is a starting point for a project plan, serving as a fixed reference point to measure and compare project progress. It helps assess project performance over time and identify if the project is on track or requires corrective action. The video also discusses the three main components of a project baseline: schedule, cost, and scope. While it's possible to change the project baseline through change control procedures, it's not recommended to do so frequently as it can make performance measurement meaningless.
- A project baseline is a starting point for a project plan.
- It helps assess project performance over time.
- It has three main components: schedule, cost, and scope.
- Changing the baseline frequently can make performance measurement meaningless.
What is Project Baseline?
This chapter introduces the concept of a project baseline. It explains that a project baseline is a fixed reference point used to track and compare project progress. The video uses an example of a project estimated to be completed in four months. If after one month, the project is not on track to meet the baseline, corrective action is needed. The main advantage of using a project baseline is that it allows for early identification of potential problems and the ability to take corrective action to ensure project success.
Components of a Project Baseline
This chapter discusses the three main components of a project baseline: schedule, cost, and scope. It explains that these components are typically monitored, controlled, and reported separately to ensure that each aspect of the project is on track.
Changing the Project Baseline
This chapter addresses the possibility of changing the project baseline. While it's possible to change the baseline through change control procedures, it's not recommended to do so frequently. The video explains that frequent changes to the baseline can make performance measurement meaningless, as it becomes difficult to track progress against a constantly shifting target. However, if major changes to the project necessitate a baseline adjustment, it can be done through the appropriate change control processes.
