Related Resources
Scope Baseline: How to Manage Project Scope In a Structured Way
Schedule Baseline: How to Create a Realistic Project Schedule
Transcript
The question of the day is: Why baselines are Crucial in Project Management?
That is a good question. And it is of utter importance to understand. I believe it is the number one reason why project managers fail projects.
So, there are three baselines in project management: scope, schedule, and cost baselines.
What is a baseline in the first place?
A baseline is a fixed and approved version of project schedule, budget or project scope. Notice that I don’t say final just a fixed version.
So, what does it mean?
During project initiation and planning you and your team will be working to define the project scope. Depending on an approach you use, at some point you will say, “OK, we detailed the scope as a far as we could, the further efforts will be fruitless.”
If stakeholders agree with you, that version of the project scope will be a baseline. So, now you will define how much time it will take to implements that scope of work. Based on that you will create a project schedule, and the final and approved version will become a Schedule Baseline. The same goes for the costs and budget.
I want to stress this one again. Baselines should be approved by key stakeholders.
Then, based on the baselines you will create the whole project management plan.
When you are executing the project, you will measure your progress against these baselines. If the variations between baselines and your progress, become too big, and you can’t do anything about it you need rise the red flag. You need to reconsider project goals and whether it is rational to continue the project.
It might happen due to your faults in estimation and planning. Likewise, stakeholders may not be willing to keep to the project objectives. They may want to change requirements too much and too often.
In the end, you will be able to show them, what they asked initially and what you had to do in the long run.
OK, that’s all for today, if you want me to answer your question, please put it in the comments below. And do not forget to like this video. See you in the next Q and A session!
The post Q&A: Why baselines are Crucial in Project Management? appeared first on PM Basics.