Glossary

Gratis demo

Financial Project Management Glossary

TimeLog Project covers the processes within the financial management
of projects. The glossary explains terms and concepts used in TimeLog Project.

Looking for a description?

Milestone

Milestones are project management tools that can be used for various purposed depending on the industry.

On long projects, it may be usefully to add milestones to mark the completion of one or more tasks. The milestone may mark a handover procedure, e.g. in the form of a report or completed tasks for approval. Milestones can also be used for assessing how the completion of the project/task should be done.

Usually, the completion of a milestone requires a formal delivery or approval such as a customer acceptance, initiation of a partial outcome, or approval by the steering committee or board.

Milestones are an important project management tool as they render delays or discrepancies visible.

Milestones in TimeLog Project

An overview of the milestones for each employee can be seen in the Project administration (F8) under Reports – Multiple projects. Milestones can be visualised using the Gantt charts from the project overview for each project, or the Gantt chart report located in the Project administration (F8) under Reports-Multiple reports. Milestones related to each project are added to the project overview using the tab MILESTONES.

Viewing of milestones is enabled or disabled in the System Administration (F10) under Projects -> Settings.

TimeLog is a Microsoft Gold Certified Partner.