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The (PMB) performance measurement baseline is essential to overall project control. It is a time-phased schedule of all the scope which is to be performed, the budgeted cost for this scope, and the organizational elements that produce the deliverables from this scope. This will provide the measurement basis for the project.
The Performance measurement baseline should be approved and signed off by all stakeholders to instill ownership and accountability.
Items to review:
- The project meets the agreed upon project milestone dates.
- The project budget equals the proposal estimate.
- All project scope has been identified as per the WBS (100% rule).
- The activity Logic is sound.
- The critical path logic looks achievable.
- The resource plan looks realistic.
- Any additional risks have been allowed for.
Once all internal stakeholders are satisfied with the dates, resources required, and activity logic, the schedule has to be sent to all external stakeholders for approval. Upon approval the schedule is baselined. This forms our performance measurement baseline which consists of:
After this point, the management of change process can start.
- The budgeted hours and dollars.
- The agreed-upon milestones.
- The deliverables.
- 100% of the scope.