When managing a project, one is required to make a lot of key decisions. Project managers strive to control costs while getting the highest return on investment and other benefits for their business or organization. A cost benefit analysis (CBA) is just what they need to help them do that….Read More »
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The PMBOK defines a Milestone as, “a significant point or event in a project” (Project Management Institute, Inc., 2017). Typical milestones I have encountered in the past include the beginning and ending of project phases, stakeholder sign-offs that allow the team to move on the next phase, and major deliverables. It has helped me to think of a milestone as a point in time that designates a desired state that the project team is trying to achieve. Read Jason Westland’s blog post for more insight:
A project milestone is a management tool that is used to delineate a point in a project schedule. These points can note the start and finish of a project, and mark the completion of a major phase of work. Milestones can be used to symbolize anything that has started or finished, though it’s primarily used as a scheduling tool.
If a milestone focuses on major progress points in a project, you can see how it is useful in scheduling. Just as tasks break a larger project into manageable parts, milestones break off project phases to help project managers plan, schedule and execute them.
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Project Management Institute, Inc. (2017). A guide to the project management body of knowledge.
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