Putting a project baseline in place is an important management practice to allow you to measure each project against specific criteria. The baseline gives the project manager a working tool to assess each individuals projects performance but further, it also allows the business owner to understand which aspects of projects are going well and/or badly and to improve further.

Project cost estimates are a must to get right in order to generate and accurate project budget. Depending on when they are required to be given though, an estimation can be a little like black art and may not be as accurate as needed. Ensuring that the client is aware that the project costs can be finalised after a fuller understanding of the project scope is available is effective management that will protect your project and business.