Project baselining is the process of developing baselines for each of the triple constraints: scope, budget, and schedule.
A baseline is effectively the approved version of each, representing a consensus of the estimates that are embedded in each.
Baselines are developed in the planning phase of a project and will be continuously useful as the project progresses to evaluate variance of actual performance. If there is a change in the project that affects any of the triple constraints, the project team will have to adapt. Depending on the complexity of the project and how it is being managed, this process might be reprioritizing the backlog, or rebaselining the project.
Suffice to say, baselines are set in the planning stage but are continuously revisited – and potentially updated – over the course of a project.
Want to learn more about Project Management? See my Project MGMT publication for these 30 key PM topics:
Projects, lifecycle, management, manager, methodologies, the triangle, stakeholders, deliverable, team, charter, scope, budget, schedule, planning, baselining, milestones, dependencies, resources, risk, procurement, communication, ceremonies, integration, backlog, whiteboard, closure, software tools, office(r), code of ethics, body of knowledge
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