PMB performance measurement baseline(The Cumulative PV Over Time)

The Performance Measurement Baseline (PMB) is a project management tool that is used to track and measure the project's progress against its original plan. It is typically created during the planning phase of the project and is used throughout the project to identify and address any variances from the plan.

The PMB includes three key components:

• Scope baseline: This defines the work that needs to be completed in order to deliver the project's scope.
• Schedule baseline: This defines the project's schedule, including the start and end dates for each task, as well as the dependencies between tasks.
• Cost Baseline: This defines the project's budget, including the estimated cost of each task.

The PMB is created by the project manager and is typically approved by the project sponsor and other key stakeholders. Once the PMB is approved, it becomes the standard against which the project's progress will be measured.

The PMB is used to track the project's progress in a number of ways. For example, the project manager can compare the project's actual scope, schedule, and cost to the PMB to identify any variances. The project manager can then use this information to take corrective action, if necessary.

The PMB is also used to communicate the project's status to stakeholders. For example, the project manager can provide the stakeholders with regular reports on the project's progress against the PMB. This helps the stakeholders to understand how the project is progressing and to identify any potential risks.

The PMB is an essential tool for any project manager. It helps to ensure that the project stays on track and that it is completed within the budget and schedule that were originally planned.

Here are some of the benefits of using a PMB:

• Improved project performance: The PMB helps to improve project performance by providing the project manager with a clear and concise way to track the project's progress against its original plan. This allows the project manager to identify and address any variances from the plan early on before they become major problems.
• Increased visibility and communication: The PMB helps to increase visibility and communication between the project manager and the project's stakeholders. The project manager can use the PMB to provide regular updates to the stakeholders on the project's progress, and to identify any potential risks or issues.
• Reduced risk: The PMB helps to reduce risk by providing the project manager with a way to identify and mitigate potential problems early on. The project manager can use the PMB to develop contingency plans and to make sure that the project is on track to meet its goals.

In summary, a Performance Measurement Baseline (PMB) is a comprehensive set of project parameters, schedules, costs, and performance metrics that serve as a reference point for managing and measuring a project's progress. It provides a structured framework for project management, helping ensure that a project stays on track and meets its objectives.