In project management, what does the term "baseline" generally refer to?

The term "baseline" in project management refers to the approved project plan that encompasses three critical components: scope, schedule, and cost. Establishing a baseline is essential as it serves as a reference point against which the project's progress and performance can be measured. This means that any deviations from the baseline in terms of budget, timeline, or project deliverables can be identified and analyzed.

By having a clear baseline, project managers can effectively monitor progress, control changes, and ensure that the project stays on track. It acts as a benchmark for evaluating actual performance and managing any variances that may arise during the project's execution. This aligns project execution with the original goals and aids in making informed decisions about changes or adjustments when necessary.