In project management, what does the term "milestone" refer to?

The term "milestone" in project management refers to a significant event or point in time that marks the completion of a project phase or task. Milestones are critical for tracking progress and ensuring that a project stays on schedule. They serve as checkpoints that indicate when important objectives have been achieved, allowing project managers and stakeholders to assess the progress and performance of the project.

Milestones help in setting goals and timing for project timelines. They can include key deliverables, the completion of important tasks, or approval points, and they are often used as reference points to gauge if the project is on track to meet its deadlines. This makes milestones essential for effective project planning and communication among team members and stakeholders.