Estimating project costs: To budget the project, you have to estimate how much it'll cost. This is done by using historical data and estimating the specific costs of every resource and the duration of that resource in the project.
Creating a project budget: Once you have the costs estimated, you can create an accurate project budget. This will outline the costs of everything in the project, from start to finish.
Creating a project schedule: The project has a start date and an end date. That's its duration. Between those two points, you must chart each phase and the tasks within it on a timeline that shows the project's schedule.
Completing your project plan: The project plan is a document that outlines the project, including its execution and how it'll be monitored and controlled. Completing the project plan is a milestone.
Getting your project plan approved: Once the project sponsor or client looks over the project plan, schedule, etc., they will sign off on it. Now the project execution can begin.
Project Execution Milestones
Begin the execution phase: This is when the work of delivering the project goals begins. The teams are assigned and tasks are completed.
Producing key project deliverables: There's more than one deliverable. The final deliverable marks the end of the project, but there are other deliverables throughout the project.
Completing critical tasks: The critical tasks are those that must be completed to successfully complete the project. You can identify these by finding the critical path.
Reaching project goals and objectives: The project is all about achieving its goals and objectives. These can be marked off and celebrated as milestones.
Project Closing Milestones
Creating a project punch list: In construction projects, a punch list is used to list the last work that remains in a project. These items must be completed before the project can be considered done.
Getting approval from stakeholders to close the project: Finally, a project isn't done until the project sponsor or client signs off on it. Then all documentation can be signed and archived and the project team released.
Engineering Program Manager • Seattle, WA, United States
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