Name of project Milestone

A milestone is one of a series of numbered markers placed along a road or boundary at intervals of one mile or occasionally, parts of a mile. They are typically located at the side of the road or in a median or central reservation. They are alternatively known as mile markers, mileposts or mile posts (sometimes abbreviated MPs). Mileage is the distance along the road from a fixed commencement point. Commonly the term "milestone" may also refer to markers placed at other distances, such as every kilometre. Milestones are installed to provide reference points along the road. This can be used to reassure travellers that the proper path is being followed, and to indicate either distance travelled or the remaining distance to a destination. Such references are also used by maintenance engineers and emergency services to direct them to specific points where their presence is required. This term is sometimes used to denote a location on a road even if no physical sign is present. This is useful for accident reporting and other record keeping (e.g., "an accident occurred at the 13 mile mark" even if the road is only marked with a stone once every 10 miles). Milestones are tools used in project management to mark specific points along a project timeline. These points may signal anchors such as a project start and end date, or a need for external review or input and budget checks. Milestones can add significant value to project scheduling. When combined with a scheduling methodology such as Program Evaluation and Review Technique (PERT) or the Critical Path Method (CPM), milestones allow project managers to much more accurately determine whether or not the project is on schedule. By constraining the dates associated with milestones, the critical path can be determined for major schedule intervals in addition to the entire project. Slack/float can also be calculated on each schedule interval. This segmentation of the project schedule into intervals allows earlier indication of schedule problems and a better view into the activities whose completion is critical. Milestones are like dashboard reviews of a project. Number of activities which were planned at the beginning of the project with their individual timelines are reviewed for their status. It also gives an opportunity to check the health of the project. Milestones are frequently used to monitor the progress, but there are limitations to their effectiveness. They usually show progress only on the critical path, and ignore non-critical activities. It is common for resources to be moved from non-critical activities to critical activities to ensure that milestones are met. This gives the impression that the project is on schedule when actually some activities are being ignored.