Using Milestones to Inform Decisions
Milestones are critical for measuring progress from start to finish in any project. They represent key points along the project timeline where specific objectives should be achieved, providing a structured way to track progress, assess performance, and make necessary adjustments. Milestones help in breaking down a project into manageable phases, making it easier to monitor.
One effective milestone method is the Go/No-Go event. This binary, yes or no measurement is used to evaluate whether specific criteria have been met at a particular stage of the project. If the criteria are met, the project proceeds (Go); if not, the project is stopped (No-Go). This approach ensures that only viable projects continue, preventing wasted resources on initiatives that are unlikely to succeed.
Go/No-Go events are particularly valuable for managing project risks. They act as checkpoints where the project’s status is thoroughly reviewed. If significant risks have emerged that cannot be mitigated, or if the project is no longer viable due to changes in scope, budget, or external factors, the Go/No-Go evaluation allows for a strategic decision to either pivot or terminate the project. This decisiveness helps avoid the pitfalls of perpetually struggling projects that drain resources without delivering value.
When finalizing a project’s deliverable, the Project Manager should use an Acceptance Checklist. This checklist is an essential tool to ensure that all project requirements have been met before the deliverable is considered complete. It includes criteria such as adherence to specifications, quality standards, and stakeholder expectations. By systematically verifying each requirement, the Acceptance Checklist helps in identifying any gaps or issues that need resolution before the project is officially closed.
