The Integrated Planning Milestones window provides activity work-in-progress assessment capability. Milestones for each WBS element are represented graphically in a Gantt chart. You can 'status' the milestones and review the resulting changes in the updated fields.
Each milestone is assigned a unique identifier, making it possible to export and import data keyed to specific milestones.
When you define milestones for a WBS element, you select an Earned Value Method (EVM) that you want MPM to use to calculate the Budgeted Cost of Work Performed (BCWP). You can select a different EVM for each WBS element, but the EVM you choose for a WBS element applies to all milestones assigned to that element.
As a project progresses and milestones are met, you can status the project in MPM to generate a percent that represents the work that has been completed. You will usually status a project at the end of a fiscal period. The method you use to status the project depends on the earned value method you selected for each WBS element.
Entering milestones is described in Tracking the Project Milestones.