Before we execute a project, we must baseline our project. Search the Internet and ascertain what we mean by “Baselining” our project. And specifically, which items are baselined? Stated another way, what items are in the basline? Describe them. Text ISBN: 9780134730332 Authors: Pinto Publisher: Pearson
Baselining a project is an essential step in project management that involves establishing a reference point to assess and measure future progress and performance. In simple terms, it is the process of defining initial values for various project elements, which will serve as a benchmark to compare and evaluate the actual progress made during project execution.
When baselining a project, several important items and elements are typically included in the baseline. These items can vary depending on the nature and complexity of the project, but they generally encompass the following key components:
1. Scope: The scope baseline provides a clear definition of the project’s objectives, deliverables, and boundaries. It outlines what activities and features are included and excluded from the project, ensuring a common understanding among all stakeholders.
2. Schedule: The schedule baseline establishes the project’s timeline by identifying the start and end dates for each activity or task. It includes the sequence of activities, their dependencies, and the overall project duration. The schedule baseline helps monitor progress and identify any deviations from the original plan.
3. Cost: The cost baseline outlines the estimated budget for the project, including the allocation of funds for various activities, resources, and materials. It serves as a reference point for measuring and controlling project expenses, enabling stakeholders to identify and address any cost overruns or financial discrepancies.
4. Quality: The quality baseline defines the expected standards and requirements that must be met to deliver a successful project. It encompasses quality objectives, criteria, and metrics to assess the performance and effectiveness of project deliverables. The quality baseline guides the implementation of quality assurance and control measures throughout the project.
5. Resources: The resource baseline specifies the types and quantities of resources needed to complete the project successfully. This includes human resources, equipment, materials, and facilities. By establishing a resource baseline, project managers can ensure that the necessary resources are available and effectively utilized throughout the project’s lifecycle.
6. Risks: The risk baseline identifies potential risks and uncertainties that may impact the project’s success. It includes an assessment of the likelihood and potential impact of each identified risk, as well as the corresponding mitigation and contingency plans. The risk baseline serves as a reference for monitoring and managing project risks.
These six items constitute the primary components of a project baseline. They provide a comprehensive and structured foundation for project planning, execution, and control. By setting clear baselines for these items, project managers can measure actual performance, track deviations from the original plan, and make informed decisions to keep the project on track.
In summary, baselining a project involves establishing reference points for key project elements such as scope, schedule, cost, quality, resources, and risks. These baselines serve as benchmarks to assess progress, measure performance, and ensure successful project delivery.