"Approved as Noted" is one my favorite things. You turn in a submittal, they don't like everything - but enough is ok it is "Approved as Noted" which means you will "should" fix those things in the next update. But can you use that on a baseline? and if they do, do they have to re-submit the baseline, or can they just fix the items on the first update? I can see it being ok if it is "Spelling or terminology issues", but what if it is review time durations? How much say do you really get over procurement durations - isn't that getting into "means and methods" issues. If they 2 weeks and you think it will take 4, isn't that their problem?
using "Approved as Noted"
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The 1st part of the 2 words is Approved so it is officially Approved but you are expected to incorporate the "AS|NOTED" part in your next submittal. As far as the 2 weeks vs 4 weeks durations if it is YOUR activity then they can not dictate the duration. If it ia an owner activity then they can comment and say this will only take them 2 weeks instead of 4 weeks. Activities that are installation activities usually have a quantity to install. Then depending on the number of men doing the installation determines the duration. So the 4 week duration may represent 2 men working for 4 weeks or you can use 4 men working for 2 weeks. Thsi can not be dictated by the owner and is part of the means and methods.
"Approved as Noted" means it is approved providing you complied on the notes (which usually minor issues that would not stop from using it with the guidance or subject to complied on the notes stated). Yes, you can use that as a baseline subject to complied on the notes stated. It will not be approved if a major issues has been found and will returned as "revised and re-submit" instead.