Schedule baseline
After all this effort and work to put together a comprehensive schedule, it is now time to get a formal version of your schedule approved as a baseline.
Note
There will be three significant baselines: the schedule baseline, the cost baseline, and the scope baseline. All these baselines are used to track performance and will have to be updated through formal change control.
You will need to present your schedule to your sponsor, customer, and other key stakeholders in order to gain approval and acceptance on the dates/duration of the project. Once you get that approval (after multiple revisions and some tears), you will have your schedule baseline. The schedule baseline is a formal, approved version of your schedule and will be used to manage schedule performance during execution and to determine if you need to make corrections.
The baseline will reside in the formal integrated project management plan and be used to compare planned schedule performance...