• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Project Management Knowledge

Simply explained by a PMI-certified Project Manager

  • Home
  • Acronyms and Abbreviations
  • Definitions
  • About the Author
  • Deutsch
  • Show Search
Hide Search
You are here: Home / Definitions / W / Weighted Milestone Method

Weighted Milestone Method

The Earned Value provides a snapshot of the work progress at a certain point in time. It also reflects the amount of work that has been accomplished within a given period of time and it is expressed as the planned value for a particular work. The key to having a good Earned Value Method is to have an accurate estimate of the Earned Value. To determine this, project managers need to estimate how much task the project team needs to complete within a specific time and how much of the budget for the task should be spent for the work.

The Weighted Milestone Method is a type of earned value method that allows project managers to divide work packages to measurable small segments each ending with an observable milestone. The project manager assigns a weighted value to every milestone achieved. For this particular method, the earned value is zero until an activity is completed. Once it is completed, the total activity budget becomes 100%.

In project management, the concept of the weighted milestone method is that is often used by project managers to divide tasks the take longer time periods to complete. With this particular technique, the tasks have intermediate and tangible outcomes even if they are not fully completed yet.

This term is defined in the 5th edition of the PMBOK.

Related Articles:

 
  • Fixed Formula Method  The fixed formula method in project management is a type of earned value method to measure the performance. It is an...
  •  
  • Arrow Diagramming Method (ADM) [Technique]  The arrow diagramming method (ADM) refers to a schedule network diagramming technique in which the schedule activites within a given...
  •  
  • Milestone  Throughout the entire life cycle of a project, there are going to be a number of natural time gradients that...
  •  
  • Milestone schedule  When the project team is conducting all of the individual components of the project throughout the project life cycle, it...
  •  
  • Schedule Milestone  Within the confines of project management, a schedule milestone, also known as a milestone activity, is an event of great...
  • Primary Sidebar

    Dear Visitor, I am a PMP (Project Management Professional), certified by the Project Management Institute since 2004. I have been managing dozens of projects, small and huge, successful and unsuccessful. This site is supposed to help you learn the required vocabulary of the project management world. Please feel free to check my certification status or to learn more about me.

    Copyright © 2021

    • Privacy Policy