A milestone is a control point in a project with zero duration that triggers a reporting requirement or requires sponsors or customer approval before proceeding with a project, At one instance, that I mentioned milestone, I told you then that it is an important event in your project.
Take for example, you are an undergraduate in your forth year in the University. The day you gained admission into the university was a milestone in your life. The day of your graduate was also another milestone in your life.
As a Project Manager, there is the need for you and your project stakeholders to set milestones for your project. Once you have reached a stage in your project, you need to come back to the stakeholder so that they can assess how far you have gone with your project .
This will enable the project stakeholders to assess what has been done so far on the project. They will also be able to determine whether the project can move to the next level or not.
The milestone also serves as markers and are defined by the Project manager or customers or both.
A milestone list is a document that contains the project milestones. The document indicates if achieving the milestone is mandatory or optional for the project to move to the next phase. Milestone lists are used as indicators of a project’s progress and the goals that must be reached.
You have to prepare a list of all milestones that must be reached in your project. You must have stated it as well whether it is compulsory to achieve the milestone or not.
The milestone list must also list the scheduled dates for the achievement of each of the milestones.
They can also be presented in form of a chart in order to show whether you are achieving your milestones or not. This will help you to know whether your project is on, above or behind schedule.
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