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The IMP is a collection of milestones (called "events") that form the process architecture of the program. This means the sequence of events must always result in a deliverable product or service. This means the sequence of events must always result in a deliverable product or service.
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. Some contracts for products include a "milestone fee" that may be paid out when certain points are achieved.
Project milestones; In order for a project schedule to be healthy, the following criteria must be met: [7] The schedule must be constantly updated (weekly works best). The EAC (Estimation at Completion) value must be equal to the baseline value. The remaining effort must be appropriately distributed among team members (taking vacations into ...
Product-based planning is a fundamental part of the PRINCE2 approach to project management, and is a method of identifying all of the products (project deliverables) that make up or contribute to delivering the objectives of the project, and the associated work required to deliver them. The documents which define the Project itself are also ...
3. Better Productivity. Project management is important because it ensures there’s a proper plan that outlines a clear focus and objectives to allow the team to execute on strategic goals.
A deliverable differs from a project milestone in that a milestone is a measurement of progress toward an output, whereas the deliverable is the output delivered to a customer or sponsor. [5] For a typical project, a milestone might be the completion of a product design, while the deliverable might be the technical diagram or detailed design ...
Management process – is a process of planning and controlling the performance or execution of any type of activity. Process – ongoing collection of activities, with inputs, outputs and the energy required to transform inputs to outputs. Project – A temporary endeavor undertaken to create a unique product, service, or result. [3]
The PBS is identical in format to the work breakdown structure (WBS), but is a separate entity and is used at a different step in the planning process. The PBS precedes the WBS and focuses on cataloguing all the desired outputs (products) needed to achieve the goal of the project.