According to the PMBOK® Guide, specifically within the Determine Budget and Control Costs processes, the Performance Measurement Baseline (PMB) is the approved, integrated scope-schedule-cost plan for the project work.
Planned Value (PV): This is the authorized budget assigned to scheduled work. It represents the value of the work that should have been accomplished by a specific point in time.
The Total PV: The sum of all individual Planned Values across the entire project duration equals the Budget at Completion (BAC). This total time-phased budget is formally referred to as the Performance Measurement Baseline (PMB).
Purpose: The PMB is used in Earned Value Management (EVM) to measure project performance. By comparing the Earned Value (EV) and Actual Cost (AC) against the PMB (the total PV), project managers can determine if the project is ahead of or behind schedule and over or under budget.
Composition: The PMB typically integrates the Scope Baseline, Schedule Baseline, and Cost Baseline.
Analysis of Other Options:
A. work breakdown structure (WBS): The WBS is a hierarchical decomposition of the total scope of work. While it provides the framework for the budget, it does not represent the " total of the planned value " in a time-phased manner.
B. schedule target: This is a general term often used to describe a milestone or a specific completion date, but it is not the formal name for the sum of Planned Value.
D. earned value baseline: This is a misleading term. While the PMB is used within Earned Value Management, it is the baseline for Planned Value, not the baseline for Earned Value (as Earned Value is a measurement of actual work completed, not a pre-defined baseline).
