Project Milestone:
A milestone is a point that has no duration itself, but identifies an important event in a project task or group of tasks. In addition to assist project team members and other stakeholders keep updated about the project status, milestones are often used to determine when payments are to be made to vendors and service providers. Mile stone in any project is the initial approval that permits the project to move ahead. For internal projects, this milestone often comes in the form of an approval from a department head or other high-level participant. For other projects, this milestone is usually known by the completion of a sales contract and scope of work.
Purpose
Firstly, we should determine that they as a rule do not have any influence on project duration. On the contrary, they draw attention to all important actions in special and to progress in general. All those actions and events are to be achieved in order to successfully complete a project.
What Can Be a Milestone
• Significant dates
• External events and dates
• Deadlines
Why Need Project Milestone
• To see all important events at a glimpse
• To not miss any essential event
• To successfully finish a project
Benefits of Milestone
1: Monitor Deadline
2: Make it Easy to track Important Dates
3: Identify Potential Project Hindrances
4: Creates Effective communication
5: Effective scheduling
Milestones that speed up project work:
• Entertainment
• Network plan
• IT support