What is baseline variance in project management?

Baseline variance in project management refers specifically to the difference between the baseline schedule and actual performance dates. The baseline represents the planned schedule that outlines the expected start and finish dates for project tasks. When the actual dates deviate from this planned schedule, it indicates a variance, which can provide critical insights into project performance and timing issues.

This measure is essential for project managers as it helps in identifying delays or accelerations in the project timeline, allowing them to make informed decisions about corrective actions. By analyzing these variances, project managers can effectively manage stakeholder expectations and ensure that project objectives are met on time.

The other options relate to aspects of project management but do not accurately define baseline variance. For instance, budget variances involve financial metrics rather than schedule dates, while discrepancies in resource allocation refer to resource management issues. Variances in stakeholder agreements concern the alignment and communication with stakeholders rather than schedule adherence. Thus, while all these concepts are critical to project management, they fall outside the specific definition of baseline variance.