Which of the following best describes a project schedule?

A project schedule is fundamentally a timeline that outlines the sequence and timing of project activities and tasks. It serves as a roadmap for the project, detailing when specific tasks should start and finish, as well as how these tasks interrelate. This timeline is crucial for ensuring that the project progresses efficiently and stays on track, allowing project managers and team members to understand the project's pace and manage their time effectively.

In contrast, the other options do not encapsulate the essence of a project schedule. A list of team members focuses solely on human resources rather than the tasks or timeframes. A budget outline pertains to financial aspects of the project rather than its scheduling. A report on completed tasks reflects on past performance rather than providing a forward-looking plan that helps guide project execution. Therefore, the description of a project schedule as a timeline for activities and tasks precisely captures its role and function in project management.