The scope of this document covers project schedule and cost performance management which is part of the contract management business domain. Project schedule and cost performance management data exchange occurs once a contract for a project has been approved, funded, and authorization to proceed has been given by a client. This data exchange continues throughout the life of the project until the project naturally concludes or it is cancelled. The project schedule and cost performance management international standard focuses on exchanging the relevant data for the four main purposes listed below. - Establishing the schedule and cost performance management baseline. The baseline is established as quickly as possible after contract award. This baseline provides the basis for measuring work performance over the life of the project. - Providing schedule progress and cost performance data on a periodic basis (such as weekly or monthly) for the purpose of reporting the work progress in schedule and cost terms in comparison to the schedule and cost performance measurement baseline. This periodic schedule and cost information is used to determine if the project is ahead or behind schedule, or if the project is over or under running the cost plan (the budget). It can also be used to identify high risk or problem areas for the project and for planning future work based on project performance to date. Providing a means to incorporate changes to the schedule and cost baseline (contract changes) as well as other changes required to keep the current working schedule and future cost plan up to date. Capturing end of contract schedule and cost data. Historical project performance data can be used as a basis for estimating the schedule and cost of future projects.