Milestone planning is a core project management technique for freelancers. It involves dividing a large project into smaller, scheduled phases, each with a clear deliverable and a corresponding payment.
What is Milestone planning?
Milestone planning is a project management method where you break a large project into smaller, scheduled phases. Each phase, or milestone, has a specific deliverable and an associated payment. This creates a clear roadmap for both you and your client from start to finish.
Why is this important?
For freelancers, milestone planning is crucial for managing cash flow and reducing risk. It ensures you get paid incrementally instead of waiting for the entire project to end. It also builds client trust by providing regular progress updates and tangible results.
How does it work?
You start by defining the project's major phases, like research, first draft, and final delivery. You then attach a specific deliverable and a payment amount to each phase. These terms are agreed upon with the client before work begins, often formalized in a contract.
Pros and cons
Key benefits include steady income, clear project tracking, and reduced payment disputes. Potential downsides can be the administrative overhead of setting it up and the need for very clear initial scoping to avoid confusion over what each milestone includes.
Conclusion
Milestone planning is a professional standard that protects both you and your client. By implementing it, you create a structured, transparent workflow that leads to more successful projects and healthier working relationships.
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