Milestones: Benchmark dates over the life cycle of a project. Milestones are tools used in project management to mark specific points along a project timeline. Milestones can add significant value to project scheduling and are frequently used to monitor the progress of the project. It gives an opportunity to check the health of the project. Milestones can do more than just show progress — they can help you to communicate what’s happening with your project.… The keywords ‘stages’, ‘milestones’ and ‘indicators’ play a very important role in displaying the performance of a fund.
- Stages refer to the division of the life cycle of a project (Beginning to End). For e.g. Review & Approval of a project, Disbursement, Audit & Closure; three stages in the life cycle of a project.
- Milestones refer to the benchmark dates which define a significant event that happens within a stage. There can more than one milestone defined for a stage. For e.g. Implementing Partner’s signature on the Grant Agreement is an important milestone in the Review & Approval stage.
- Indicators refer to the duration's between certain milestones, allowing management to track progress, identify lags. For e.g. #days from Project Proposal (PP) Submission until IP Signature of GA is an indicator for the Implementing Partner’s signature on the Grant Agreement milestone in the Review & Approval stage.
The Milestones and Indicators are meant to highlight achievements and mark performance of each country based pooled fund (CBPF). They are split between Standard and Reserve Allocations, highlighting the two very different timelines and duration's around which each Allocation Type is founded. At any point, the Country Office management can have access to how the office is performing in order to inform the Humanitarian Coordinator and Advisory Board. FCS will use this module to report on global-level OCHA performances and amalgamated averages. Some of the features of the milestones module are:
- Fund overview at the Country level (individual CBPF) and Global level (multiple CBPFs)
- Provides with the Global and country averages for indicators.
- Review of individual project progress during various stages such as Review, Implementation, Reporting, Closure.
- Zoom-in Stages which provide detailed information on the path and progress of a project in the selected milestone.
Click here for a more detailed overview on the Milestones module