PC 1.09 Baselines question with complete solution rated A+ 2023

PC 1.09 Baselines question with complete solution rated A+ 2023Baseline - correct answer The *approved* version of a work product that can be changed only through formal change control procedures and is used as a basis for comparison. Various baselines - correct answer cost, schedule, scope, performance, product, cash, technical (last 3 less common). Help you measure and monitor your project Cost Baseline - correct answer Specific time-phased budget. Used to compare actual to planned expenses. Indicates if preventative or correction action required. Schedule baseline - correct answer Approved, specific version of schedule model, used to compare actual schedule to planned schedule. Comparison indicates if preventative or correction action required. Also says when costs will be incurred. Scope baseline - correct answer Approved specific version of the Scope statement, the Work breakdown structure and the WBS dictionary. Used to compare actual results to the plan to determine if preventative or corrective action is required. Why baselines? - correct answer Draw lines in the sand. Analyze actual against planned. Accepted and approved plan. Approved by PM team and stakeholders. Measure and control various project activites. Baseline Characteristics - facts - correct answer Cannot simply be changed. Output of planning processes. Help understand project progress. help in forecasting. Important input to processes. Updating a baseline is called re-baselining. Baselines in the project management plan. - correct answer The cost, scope and schedule baseline are part of the project management plan.