What term describes a significant event in a project that indicates progress?

A significant event in a project that indicates progress is referred to as a milestone. Milestones serve as critical checkpoints within a project timeline, marking the completion of important phases or deliverables. They help project managers and stakeholders to assess whether the project is on track, highlight achievements, and facilitate communication among team members regarding the project's status.

Milestones are essential in project management as they not only signify the advancement towards the final goal but also allow for performance evaluation against the project schedule. By setting these key points, teams can manage dependencies and plan subsequent tasks more effectively, ensuring that the project progresses as intended.

While tasks, deliverables, and phases are also important components of project management, they serve different purposes. Tasks refer to specific work items that need to be completed, deliverables are the tangible or intangible products that result from those tasks, and phases represent broader stages of the project lifecycle. In contrast, a milestone stands out as an indicator of progress, marking noteworthy events rather than ongoing work or outputs.