Schedules, just like our lives, rarely occur exactly as planned. In the world of Project Management, the better we are at planning, the better the results. However, there are still variances and unforeseen events which alter a schedule during execution. One way to look ahead is to see how our project has changed over time. A baseline is essentially a snapshot of a project at a given point in time which can be compared to the current project to highlight changes in the schedule. When you look at the trends between the baseline and the current project, you can identify and mitigate trends. A well-designed report can highlight which activities or areas are more prone to slippage, and point the way to prevent similar slippage in the future.
As a project progresses, what was once a planned activity becomes actual work reported on the schedule. This work performed can be tracked in a number of ways, all under the classification of "actuals". This can mean the...