Take a picture of your project plan
Picture of project plan - Protected baselines - Performance tracking - Variance reporting
- The best practice pack: Budget planning allows the user to take a picture of the project plan (execution plan) at any time, and store this picture in a seperate plan (budget plan).
- The performance baselines are stored in the BUDGET plan which is managed by the PMO/PSO. In that case, project Managers cannot accidently destroy baseline information (e.g. by deleting a task in the execution plan).
- Budget planning provides performance tracking which is not based on baseline information within the project plan (EXECUTION), but by comparing the EXECUTION and BUDGET plan.
- Budget Planning also provides variance Reporting. Graphical indicators and calculated fields are used to visualize variances between the BUDGET and EXECUTION plan with Project Professional.