Milestone
What is a Milestone in Portfolio Project Management?
Fundamental markers that indicate major accomplishments, pivotal events, or the completion of key deliverables within a project's timeline are known as milestones. Understanding milestones and how to use them to track performance is essential in your role as a project manager.
The purpose of this article is to provide an in-depth understanding of project milestones, including their definition and some key examples.
Milestone definition
Measurement of progress towards the ultimate goal is achieved by using a milestone, which is a specific point within a project's life cycle. The use of milestones in project management serves as indicators for the project's start or end date, external reviews or input, budget checks, submission of major deliverables, and so on. A milestone is a reference point that indicates a significant event or a decision-making point in a project.
Examples of milestones
Although the final deliverable or product is important, there are other milestones that can help you reach your goal with ease. The following are examples of milestones in project management:
The project phases' start and end dates.
Obtaining the necessary approval from a stakeholder to proceed to the following stage.
Key deliverables, meetings, or events
How to visualize milestone
Gantt chart milestones are points you establish within the timeline of your project that help you keep track of important tasks. You can use these milestones to determine if you're on schedule to finish your project by its ultimate deadline.
Pro tip: Quick Milestone Creation
For a more convenient method, locate the task that you want to convert to a Milestone, then right click on it, you have an option to Convert to milestone and vice versa
Manage milestone with Portfolio Project Management
PPM is the ideal solution for managing project milestones. Featuring a user-friendly interface and project tracking features including Portfolio management and Gantt charts. PPM enables project managers to efficiently create and track milestones, creating a strong sense of transparency with your team.
If you have any further questions or need assistance with any aspect of Portfolio Project management, please don't hesitate to reach out to our support team. We're here to help you make the most of Portfolio Project management!
Happy planning and organizing! ♥️