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Working on a project is like running a race. You begin at the starting line, and you know you’ve completed the race once you cross the finish line. But before you get there, you have to cover the full distance.
In a 5K run, you tackle the first kilometer, then the second, the third, the fourth, and then the final kilometer.
In a project, you complete the first few steps, then begin the next ones until every task or activity is done -- and milestones track what you’ve completed so far, what’s left to complete, and where you’re headed next.
In this guide, we’ll talk about project milestones, their benefits, and some project management tips for milestone setting.
A milestone is like a roadside marker indicating your progress toward a particular location. Milestones also refer to significant or landmark events in a person’s life, such as:
Milestones keep people motivated and help ensure their lives stay on track. The same applies in project management.
A project management milestone is a marker in the project schedule. Milestones have no duration and are scheduled around significant points throughout the project, such as the conclusion of a project phase or the delivery of a product or other deliverable.
Milestones keep project team members and stakeholders focused on the project’s end goal, including the steps and smaller, intermediate goals that have to be achieved to get there. They also indicate that your project is inching closer to completion.
Examples of project management schedule milestones are:
On a Gantt chart, a project management tool that outlines project tasks along a timeline, milestones are often symbolized by a diamond.
Milestones can be categorized as:
Milestones are critical for project planning and schedule management. Below are just a few of their uses and benefits.
Losing track of major tasks and deliverables can happen if they’re not apparent in your project schedule. With milestone management, you take advantage of the tracking and mapping capabilities of milestones so nothing critical falls through the cracks.
With deliverable due dates represented by milestones in your schedule, it’s easy to track when deliverables and high-priority tasks are due.
You may also use milestones to remind you of payment schedules (especially if a missed payment causes a late supplies delivery, for example), project performance reviews, and so on.
Everyone wants their efforts rewarded, and knowing that a project is progressing as planned is motivation enough for many project teams -- more so if it’s a huge project you’re tackling. Milestones can also be used as proof of completion when providing project management reports.
Project management relies on effective communication, and milestones communicate how the project is faring against schedule expectations. Be sure team members have easy access to the project milestone chart, since it shows critical dates.
Project management software, which is one of the basics of project management, provides teams with a central workspace for important project files and documents, such as your project timeline chart. This software will eliminate scheduling ambiguities that can lead to delays or misunderstandings later.
Milestones mark the end of one phase and the start of a new one. If different teams are responsible for different phases, Team B knows they can start when Team A has completed its assigned phase.
Milestones allow project managers to step back and evaluate what has been completed so far. Missing milestones indicates the project isn’t tracking as planned, and corrective measures may be necessary.
By comparing actual progress vs. the plan, you can:
Not all project tasks or events are created equally, which means not all completed deliverables or met deadlines will represent milestones. When setting milestones, remember that each one should be significant to achieving the project’s overall goals.
Your milestones should represent:
Additional things to remember when selecting your schedule milestones:
Remember, if certain aspects of the project change, milestones may have to be adjusted.
A well-structured project schedule is essential to predict the time, work, cost, and the resource types and quantities required for the project’s success.
Milestones denote significant events or points in a project. Project managers should use them to keep track of the project’s progress, divide the project’s timeline into manageable phases, monitor important dates and events, and recognize team achievements.
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