HKSM

A milestone list is a concise register of significant project events or decision points, showing baseline, forecast, and actual dates with ownership. It helps plan, track, and communicate key commitments without detailing the underlying tasks.

Definition

Refer to the definition at the top of this page.

Key Points

• Milestones are zero-duration events that mark major achievements, decisions, or approvals.
• The list provides a single view of baseline, forecast, and actual dates to highlight variances.
• Sources include the charter, contracts, governance gates, external dependencies, and release plans.
• It complements the schedule by focusing on outcomes and decision points rather than activities.
• Baseline changes should follow integrated change control and be clearly documented.
• Used for status reporting, stage-gate reviews, and alignment with stakeholders and vendors.

Purpose

The milestone list provides a clear, lightweight view of key commitments across the project lifecycle. It enables leadership visibility, supports gate decisions, and anchors schedule discussions on outcomes rather than task detail.

Field Definitions

• Milestone ID: A unique identifier for reference and sorting.
• Name/Description: Brief title that states the event or decision to be achieved.
• Type/Category: Internal, external, contractual, regulatory, or technical gate.
• Success Criteria: Objective conditions that confirm the milestone is achieved.
• Baseline Date: Approved target date set at planning or after change control.
• Forecast Date: Current expected date based on latest information.
• Actual Date: Date when the milestone was achieved, if completed.
• Variance: Difference between forecast or actual and baseline, typically in days.
• Status: On track, at risk, or delayed, with a simple RAG indicator if used.
• Owner: Person accountable for achieving the milestone.
• Dependencies: Key predecessors or external dependencies that affect timing.
• Notes/References: Assumptions, links to contracts, approvals, or change requests.

How to Create

• Review the charter, scope, contract terms, and governance framework to identify required milestones.
• Derive additional milestones from major deliverables, phase transitions, and external approvals.
• Define clear success criteria for each milestone and assign an accountable owner.
• Draft baseline dates aligned with the schedule model and stakeholder constraints.
• Validate the list with the team, sponsor, and key stakeholders; then baseline through approval.
• Publish the list in a shared repository and link it to the schedule and reporting dashboards.

How to Use

• Update forecast dates and status at the agreed reporting cadence and during schedule reviews.
• Escalate risks early when variances emerge and capture actions in the risk or issue log.
• Use the list to drive stage-gate decisions and to communicate commitments to vendors and leadership.
• Align milestone timing with the critical path and release or increment plans as applicable.
• Record actual dates upon completion and archive evidence of achievement for audit or closure.
• Submit baseline date changes through formal change control and record rationale and approvals.

Ownership & Update Cadence

• Owner: Project manager or scheduler maintains the list; each milestone has an accountable owner.
• Contributors: Work package leads, product owners, procurement, compliance, and vendors.
• Cadence: Update forecasts weekly or per sprint review; confirm status in governance meetings.
• Baseline Control: Changes require sponsor or change control board approval before updating.
• Reporting: Include a summary view in dashboards and highlight variances and corrective actions.

Example Rows

• ID: M-01 — Name: Project Kickoff Approved — Type: Internal gate — Baseline: 2025-01-15 — Forecast: 2025-01-18 — Status: At risk — Owner: PM — Success: Sponsor sign-off.
• ID: M-02 — Name: Contract Signed — Type: Contractual — Baseline: 2025-02-01 — Forecast: 2025-02-01 — Status: On track — Owner: Procurement — Dependency: Vendor selection complete.
• ID: M-03 — Name: Regulatory Approval Received — Type: Regulatory — Baseline: 2025-03-10 — Forecast: 2025-03-25 — Status: Delayed — Owner: Compliance — Variance: +15 days.

PMP Example Question

During planning, the sponsor requests a concise, one-page view of key project commitments such as phase gates, contract dates, and approvals. Which artifact best meets this need?

1. Activity list.
2. Milestone list.
3. Issue log.
4. RACI matrix.

Correct Answer: B — Milestone list

Explanation: A milestone list summarizes major events and decision points with dates. An activity list details tasks, while an issue log and RACI serve different purposes.