Definition
Milestones represent a special event in the course of a project. They are stages in project management by means of which achieved interim goals can be reviewed and thus the project progress can also be monitored. As a rule, milestones are located where
- a phase is completed,
- phases are begun,
- or important decisions about the further course of the project need to be made.
But milestones can also lie within a project phase.
Milestones have the advantage that the project progress can be better monitored and certain risks can thus be minimized. They serve as reference points for what has been achieved up to that point or what should possibly be adjusted in the project planning. They also serve employees as a goal orientation and create a sense of achievement.