Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated: 1 1 00:00:01,200 --> 00:00:02,660 When we have aggregated all 2 2 00:00:02,660 --> 00:00:04,210 the deliverable costs and decided 3 3 00:00:04,210 --> 00:00:06,670 on the cost accounts, you have a cost baseline 4 4 00:00:06,670 --> 00:00:08,340 that you can add to the project plan 5 5 00:00:08,340 --> 00:00:10,163 and review with the stakeholders. 6 6 00:00:11,430 --> 00:00:12,950 For a small project, the cost baseline 7 7 00:00:12,950 --> 00:00:15,940 is just the total cost, for example $25K, 8 8 00:00:15,940 --> 00:00:17,903 usually broken down by deliverable. 9 9 00:00:19,110 --> 00:00:21,180 For a larger project, the baseline is 10 10 00:00:21,180 --> 00:00:24,340 the cumulative cost curve. 11 11 00:00:24,340 --> 00:00:26,100 This is a graph of the planned spending 12 12 00:00:26,100 --> 00:00:28,760 across time, usually prepared by the finance 13 13 00:00:28,760 --> 00:00:31,292 department by combining the deliverable costs 14 14 00:00:31,292 --> 00:00:33,210 and the schedule. 15 15 00:00:33,210 --> 00:00:35,660 Some Gantt chart tools can do this automatically. 16 16 00:00:36,500 --> 00:00:39,400 It helps everyone understand the rate of spending 17 17 00:00:39,400 --> 00:00:40,683 and manage cash flow. 18 18 00:00:41,770 --> 00:00:43,960 It enables identification of what costs fall 19 19 00:00:43,960 --> 00:00:45,233 in which fiscal year. 20 20 00:00:46,440 --> 00:00:48,960 And it's the basis of earned value management, 21 21 00:00:48,960 --> 00:00:50,430 which we'll take a look at in the monitoring 22 22 00:00:50,430 --> 00:00:51,593 and control chapter. 1823