The program manager uses Microsoft's Planning Wizard (or Tools, Tracking, Save Baseline) to set a baseline schedule. When a baseline is created, a backup copy of the project file is created as a permanent archive of the original schedule for later reference and comparison to actuals.
Sometimes it is necessary to create a baseline schedule before the complete schedule and task structure is determined, simply to serve as a basis for capturing actual progress. This is because some work, which is clearly on the critical path, such as mechanical design or long lead-time procurement, must begin immediately to meet key milestones, sometimes before all the details of a schedule are worked out. To accommodate this, when the final schedule is completed, the baseline can be updated by saving an "interim plan." The interim plan saves particular start and finish date changes that are made after a baseline has been saved. Interim changes can be made for the entire project or for selected tasks.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.