Project Baseline- defined, extent, etc?

[derek.chase84]

Sarket mentions the term "baseline" frequently however it was never defined. According to Google, baseline can be defined as "...a project baseline is where you store all the scheduled values that were agreed upon during the project planning process and serves as a reference point. It allows the project team to measure their performance against the expectations and requirements that were set."

- So can you please confirm that 'baseline' refers to setting some kind of initial default documentation that could include expected features, risks, timeline, budget, resource requirements (teammates or hard materials), stakeholders, etc?

Further, to what extent should this baseline be developed? How often should it be revisited? If we deviate very far from the baseline, is that good or bad- what are the consequences? What if we are right on target?

Please elucidate further if you have more insight. Thank you!

[seema.sonkiya]

Sorry for the late reply, somehow I missed this thread.
Baseline means latest approved document which is used to monitor further. For example, if you talk about scope baseline, it includes approved scope and you execute work based on that approved version. You monitor execution if it meet as per the expectation of approved baseline. If a change is needed, we follow a formal change procedures to change the baseline.

In agile, changes are taken care using frequent review and accommodating feedback. Changes are managed organically rather formal change control procedures.