Milestones in Project Management: What are they?

In project management, milestones serve as markers for project initiation, external reviews, budgets, and major deliverables

Project management milestones must indicate the project life cycle phases: initiation, planning, execution, closure

Project Initiation: – Define project objectives and scope – Identify stakeholders and create a project charter

Planning: – Develop a detailed project plan, including schedules and budgets – Define roles and responsibilities

Execution: – Carry out the project activities as per the plan – Monitor progress and manage resources

Monitoring and Controlling: – Track project performance against the plan – Implement corrective actions as needed

Closing: – Deliver the project to the client – Evaluate project success and lessons learned