Using Milestones to Track Project Progress and Accomplishments
- from ITtoolkit.com
What would project planning be like if every task,
decision and event were given the same weight and significance? It
would all just be “noise�?, without a meaningful way to monitor progress or plan
next steps. That’s the point of the project milestone
– to quiet the “noise�? and provide actionable goalposts to manage
by. Read on for more.
What are Project Milestones?
There isn’t one answer to this question. From a practical
perspective, and depending on project circumstances, milestones can
be any of the following:
- The completion of any highly significant task, event,
occurrence or decision. - Reaching a significant checkpoint or phase in the project lifecycle.
- Achieving a specific “percentage complete” for any given
amount of
work. - The production of one
or more planned project or
process deliverables. - The usage of a specific amount of funding,
the passage of a specific amount of time, or the utilization of
a specific number of resource hours. - And, above all, any significant circumstance or event unique to a given project.
But milestones are more than events and circumstances. From a more strategic perspective,
milestones also serve as “management metrics”,
providing the means to define project priorities, monitor progress
and tell a more meaningful “status story”. As metrics, milestones are first
identified and defined during the “project definition phase�?, when
the overall project “concept�? is broken into specific, actionable terms.
These milestone metrics are managed through a series of three (3)
sequential stages:
Stage 1: Defining Project Milestones
The key to milestone use and identification is meaning and
significance. By definition, every task and result cannot be a milestone. To
warrant that designation, tasks and results must be of such significance that
they tell the “status story” in and of themselves, even without any details
relating to the specific, underlying work elements. For example – if you are
developing a new software product, daily coding tasks will not be milestones,
but having sufficient code for usability testing would be. Project milestones
are used to manage the project work effort, monitor results, and report
meaningful status to project stakeholders.
Here’s the questions you need to ask and answer:
- Question: How important is this task, decision or event
to the execution of the overall project?
If your answer is “highly
important”, that’s a milestone. - Question: What is the likely impact if this task,
decision or event is not met on time or as needed?
If your your
answer is “serious impact”, that’s a milestone. - Question: Can this task, decision or event be used as an
indicator of project success?
If your answer is “yes, it’s an
indicator”, that’s a milestone.
Note: As a practical matter, milestone “definition�? is not limited
to the definition phase. In fact, milestone definition occurs
throughout the project management lifecycle. Change is a fact of life in
every project, and as project terms and circumstances change (while the project
unfolds), milestones must change as well. Some milestones may be
eliminated, some may be modified and new ones may appear. The extent to
which “milestone definition” will be required (beyond initial stages) will depend upon the
nature of the project and the extent to which
scope changes are allowed.
Stage 2: Using Milestones to Oversee Progress
Once milestones have been identified and defined, and actual project
work begins, related oversight obligations kick in. As project work is executed,
identified milestones will either be met (in whole or part), missed in entirety,
or will be modified as needed to suit changing project needs and circumstances.
The key to milestone management is to be informed and prepared, so you
can act swiftly if and when problems occur. If you know that one or more
milestones will not be met, the goal is to minimize negative impact while
adhering to all previously approved fast track priorities. Responding to missed
(or about to be missed) milestones will best be determined based on
circumstances, capabilities and fast track priorities. No matter the response,
communication is the key. Stakeholders must be kept fully informed to minimize
negative perceptions, establish realistic expectations, and obtain important
feedback to solve problems and/or re-negotiate previously established
priorities. How does it work?
- Triggering Event: An identified milestone is pending.
- The milestone must be examined to determine likely status. (i.e.
“will be” or “will not be” met). - If the milestone will be met, the project can proceed as planned.
- If the milestone will not be met, a “milestone analysis�? must be
initiated to determine several key factors: Why is the milestone not being
met? What is the impact on the project as it stands today?
What actions can be taken in response?
Stage 3: Telling the “Status” Story
Project milestones are more than scheduling devices (which would
be important enough), they are also communication and credibility
devices, to set expectations and share status information.
As milestones are reviewed for status reporting purposes, the
following questions can be addressed:
- What do your designated milestones say about your project –
i.e. what is important and why? - Which milestones have been met?
- What do these “met” milestones say about project health and
management quality? - Which milestones have been missed?
- What do these missed milestones say about project health and
management quality? - Which milestones are about to be missed?
- What do these “about to be missed” milestones say about project
health and management quality? - What actions will be taken to manage “missed” and “about to
be missed” milestones? - What impact will these actions have on the project and probability
for fast tracked success? - Which milestones are still pending?
- Considering milestone status, can the project still be completed
on time and as planned?
Learn to Fast Track
When it comes to managing, you need more than one approach
to be consistently successful. The way you manage when surrounding conditions are good, is not
the way you manage when time is running short, resources are stretched thin and people aren’t
working together. That’s what fast tracking is for – and we can teach you how it’s done.
Learn More
Here’s a few closing “milestone” tips:
Tip #1: Project milestones are one of the most useful (and used) variables to
establish management benchmarks and quantify progress “to date” once projects
are underway. To maximize the potential value, every
SOW and/or project charter
must incorporate “milestone definitions�?, stated in sufficient terms to set
expectations and allow for informed consent.
Tip #2: At the heart of the matter, milestones set the stage to measure
progress, and as such, they must be defined at the start, before costly work
begins. Without the means to measure progress, your project can quickly get out
of control and you may miss important signals regarding plan viability (or lack
thereof).
Tip #3: When it comes to identifying project milestones, the best advice is to
keep it simple – you’ll know a milestone when you see one. But there are rules
of thumb. In most cases, the dividing line distinguishing “milestone” from
“non-milestone” is significance, impact and value, all influenced by project
specifics. And, when it comes to milestones,
experience may very well be the best
teacher. That’s why the “milestone process�? should always be evaluated as part
of every post-project review – so you can learn from experience and improve
related predictive capabilities.
CHECK OUT THE FAST TRACK PROJECT TOOLKIT.
If you’re looking for a fast, easy way to achieve project planning success, you’ll find it inside
the Fast Track Project Toolkit. This unique, informative online course gives you everything you need to become
a project leader and fast tracking expert. Here’s what you’ll learn:
-
How to plan and govern projects using strategic project fast tracking.
-
How to use strategic project fast tracking to save time and make the most of available resources.
-
How to use strategic fast tracking to overcome project constraints and limitations.
-
How to use strategic fast tracking to negotiate with stakeholders and build shared expectations.
-
How to use strategic fast tracking to become a more productive project manager and team member.
Source: Unless noted otherwise, all content is created by and/or for ITtoolkit.com
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