Milestones are tools used in
project management
Project management is the process of leading the work of a team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. Th ...
to mark specific points along a project
timeline
A timeline is a display of a list of events in chronological order. It is typically a graphic design showing a long bar labelled with dates paralleling it, and usually contemporaneous events.
Timelines can use any suitable scale representin ...
. These points may signal anchors such as a project start and end date, or a need for external review or input and budget checks. Some contracts for products include a "milestone fee" that may be paid out when certain points are achieved.
In many instances, milestones do not impact project
duration. Instead, they focus on major progress points that must be reached to achieve success.
Using milestones in scheduling
Milestones can add significant value to project
scheduling
A schedule or a timetable, as a basic time-management tool, consists of a list of times at which possible tasks, events, or actions are intended to take place, or of a sequence of events in the chronological order in which such things are i ...
. When combined with a scheduling methodology such as
Program Evaluation and Review Technique
The program evaluation and review technique (PERT) is a statistical tool used in project management, which was designed to analyze and represent the tasks involved in completing a given project.
First developed by the United States Navy in 1 ...
(PERT) or the
Critical Path Method (CPM), milestones allow project managers to much more accurately determine whether or not the project is on schedule. By constraining the dates associated with milestones, the critical path can be determined for major schedule intervals in addition to the entire project.
Slack/float can also be calculated on each schedule interval. This segmentation of the project schedule into intervals allows earlier indication of schedule problems and a better view into the activities whose completion is critical.
Milestones are like dashboard reviews of a project. Number of activities which were planned at the beginning of the project with their individual timelines are reviewed for their status. It also gives an opportunity to check the health of the project.
Milestones are frequently used to monitor the progress, but there are limitations to their effectiveness. They usually show progress only on the critical path, and ignore non-critical activities. It is common for
resources
Resource refers to all the materials available in our environment which are technologically accessible, economically feasible and culturally sustainable and help us to satisfy our needs and wants. Resources can broadly be classified upon their ...
to be moved from non-critical activities to critical activities to ensure that milestones are met. This gives the impression that the project is on schedule when actually some activities are being ignored.
See also
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Benchmarking
Benchmarking is the practice of comparing business processes and performance metrics to industry bests and best practices from other companies. Dimensions typically measured are quality, time and cost.
Benchmarking is used to measure perform ...
*
Deliverable
A deliverable is a tangible or intangible good or service produced as a result of a project that is intended to be delivered to a customer (either internal or external). A deliverable could be a report, a document, a software product, a server upgr ...
References
External links
Articles on Project MilestonesIntegrated Defense AT&L Life Cycle Management Chart the U.S. DoD form of this concept.
Schedule (project management)
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