A baseline is a time-phased plan.
Once we have an achievable plan that has been committed to by all key stakeholders, we are ready to set a baseline. A baseline is set for schedule, cost, and scope.
A baseline should only be set on a schedule that can meet the project objectives. For example, if a schedule has an initial plan that shows a completion date (Early Finish) of the project that is later than the due date, this must be resolved before a baseline is set. Or, if a schedule has significant resource overallocations, it is not likely to be successful, and this must be addressed prior to baselining.
We measure progress against the baseline the work takes place on the project. As the project progresses, the baseline must also include any approved changes.
The baselines should be version controlled and should only be changed through your organization’s defined change process. Changes to to your schedule and cost baselines should typically only be driven by scope changes. Just because you are behind schedule or over budget, doesn’t mean you get to rebaseline!
The baseline, and any changes to it, must be communicated to all key stakeholders.
Guidelines for baselining and rebaselining should be part of your Schedule Management Plan.