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Baseline1 10 Budget Cost Fields. The cost of all of the planned activities spread over time is the operational budget sometimes called the performance budget. Cost Baseline Project Cost Estimates Contingency Reserves The cost baseline is the authorized budget and are made through Plan Cost Management Estimate Costs and Determine Budget.
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I have a dynamic master project Slack with three inserted subprojects Slack1 Slack2 and. In project cost management the baseline budget is used as a reference to compare the planned and the actual costs. Since this is the basis for our performance measurement system we must be careful that the budget is shown on the cost baseline at the same point in time where we expect the actual cost to.
Simply put a baseline budget includes a breakdown of all direct and indirect costs of a project.
The baseline budget contains a breakdown of expected contracted costs of various items while a baseline schedule would contain details of the times required to complete various tasks. Since this is the basis for our performance measurement system we must be careful that the budget is shown on the cost baseline at the same point in time where we expect the actual cost to. Baseline budget is a time-phased plan which includes the estimates of all the direct and indirect costs. It offers the organization the opportunity to understand the cost.
