Question

The cost baseline is developed during which process?40

Answer 1

Project Management

The cost baseline is developed during which process?



Abdel Fattah Ibrahim
CDT Director - Colgate Palmolive

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by Jahabar Sadiq Ifthikar Procurement and Tendering Specialist - 3 years ago

The Cost Performance Baseline is an “authorized time-phased budget-at-completion (BAC) used to measure, monitor, and control overall cost performance on the project” (PMI’s fourth edition PMBOK®). All the minor budgets are added together to create the overall Cost Performance Baseline, which is displayed as a graph of cumulative funds to be spent over time. The periods of time are on the x-axis and the funds are on the y-axis. The periods of time could be days, months, years, etc. Because spending is generally less at the beginning and end of the project, the line on the graph representing cumulative funds tends to be in an S-shaped curve.