Project Cost Management for PMP : Cost Baseline: The Time-Phased Estimate - Episode 40 #4

In this video, we dive into the concept of the Cost Baseline 🧮, explaining why it’s more than just a single number. Many professionals think their project budget (e.g., $500,000) is the cost baseline, but that’s actually called the Budget at Completion (BAC). The Cost Baseline is a time-phased estimate, showing how much you should be spending at different stages of the project ⏳💵.

You'll learn: 🔹 How the cost baseline is connected to the project schedule 🗓️
🔹 Why it’s crucial for tracking project expenses and variance analysis 📊
🔹 The role of rebaselining when project costs change significantly 🔄
🔹 Why the cost baseline is especially important in predictive life cycles 🔍

This video is essential for project managers who want to ensure accurate tracking of project costs and manage deviations effectively ✅. Understanding and managing your cost baseline is key to delivering successful projects! 🚀

👉 Watch now to master this fundamental project management concept!