Learn about Baselines and their role in Project Controls and updating.
So what's a baseline? The baseline is like the reference when we measure ourselves, our performance to it. The baseline can be defined as the original approved plan for a project including approved changes. It usually includes the Baseline Budget and Baseline Schedule. It's used usually as a benchmark for comparison with actual performance.
So let's define the Baseline Budget and Baseline Schedule. The Baseline Budget is the project's original approved budget, including any approved changes. So let's assume the original budget was $25 million. But however, later on, there was another change order approved for a million and a half.
Now the baseline is $26.5 million, no longer $25 million. Whatever approved changes, we have to add it. Now the Baseline Schedule is a schedule prepared by the contractor before the start of the project and usually approved by the owner, typically used for performance comparison.
Also in the baseline schedule, we have to implement any changes if the baseline schedule says that we have to complete the project on the 20th of July and then we got an approved change order from the owner that says, "Yes, we can move that completion date by two weeks," then the baseline would be adjusted.
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